Financial advice isn’t just for those with complex offshore accounts. Whether you’re pondering pension options, looking into life insurance, or considering investments, financial advisers are dedicated to securing optimal financial outcomes for you and your loved ones.
Who is financial advice for?
Financial advisers serve a wide range of individuals. With access to a broader array of products than online platforms, they can tailor recommendations to your budget, no matter its size.
Perhaps you’re eager to start a pension, seek insurance for your first home, consolidate pensions, or upgrade to a larger residence. No matter your life stage or financial needs, there’s an adviser ready to assist.
Selecting the right adviser is crucial. They should transparently agree upon fees upfront to avoid unwelcome surprises down the line.
How Can a Financial Adviser help?
Personalized Advice: A financial adviser crafts a solution tailored to you, rather than offering a one-size-fits-all approach. They delve into your background, job, family, and lifestyle to understand your true needs—be it for a first-time homebuyer, business owner, growing family, or impending retiree.
Market Research: Financial advisers can explore the whole market to pinpoint the right product for you. This gives them access to options better suited to your needs than those available online.
Beyond Cash Payouts: Not all insurance plans solely provide cash payouts. Some include added benefits, like support from a nurse or bereavement counseling, accessible without making a claim. These unique plans are often exclusive to advisers, ensuring you obtain a product tailored to your specific requirements.
Peace of Mind: Advisers scrutinize your current policies and employer-provided support, as well as state entitlements. This reveals financial gaps, guiding you to only purchase what you truly need.
Investment Guidance: Where your money is invested and the positive impact your savings can generate are as vital as returns. Advisers assist in critical areas like responsible investment, mutuality, and where to invest, ensuring you save for the future and create a meaningful life ahead.
Holistic Consideration: Engaging with an adviser guarantees that all your financial needs are thoroughly assessed—both now and in the future.
Ongoing Support: Advisers offer lifelong support, adjusting your cover as your circumstances evolve due to changes like moving, having children, or switching jobs.
Pension Planning: Advisers help maintain your pension’s trajectory, offering advice on contributions, projecting its value, and suggesting withdrawal amounts once you retire.
Claim Assistance: When making a claim, your adviser will guide you through the process, from initial calls to paperwork. They’re your partners, ensuring support even during emotionally challenging times.
When’s the Right Time for Financial Advice?
Certain life events tend to prompt people to seek financial advice. Some opt for one-time guidance, while others prefer an ongoing approach. It all hinges on their individual needs.
Retirement: Ensuring your pension pot lasts as long as you do.
Wealth Building: Saving and investing to achieve your goals.
Bereavement: Navigating finances after the passing of a loved one.
Divorce: Deciding how to manage the settlement once it’s received.
Passing on Wealth: A majority of over 55s wish to pass on their wealth, but a significant percentage haven’t made plans yet.
Receiving a Lump Sum: Bonuses, windfalls, and inheritances. A substantial portion of the UK population expects to receive an inheritance, but what’s the best course of action?
