7 ways a Financial Adviser could help you
Many think that Independent Financial Advice is only for the rich.
Everyone can benefit from Independent Financial Advice.
An Independent Financial Adviser (IFA) can help you protect and build your assets, help you make the most of your investments and help secure you and your family’s long term future.
- 1. Help you plan for retirement
Pensions have come a long way in terms of flexibility and transparency in recent years and now offer a wide range of savings and investment options. A financial adviser will not only help sift through the many rules and product options but also help construct a portfolio to maximise your long-term prospects.
- 2. Help meet your investment goals
As you progress through life, you begin to build your assets and your income begins to increase. You then start considering how you can enhance your position rather than simply consolidate it. This could mean anything from looking to retire early through to paying school fees for private schools or investing in overseas property.
- 3. To find the right combination of assets
Investment is as much about protecting the potential downsides as it is about targeting maximum growth. High returns are often associated with high risk – and not everyone is happy if their investment falls by a third or more overnight.
A financial adviser will make a detailed assessment of your attitude to risk before making any recommendations. They will also ensure you don’t put all your eggs in one basket by helping you diversify not only across asset classes but also across accounts, individual funds and product providers.
- 4. Help you protect your family
There are a lot of people trying to sell you insurance of one type or another but an adviser can tell you which one is actually worth buying. They will assess your position and guide you through the best options to protect yourself and your family regardless of whether you are single, married, have children or they have long left home.
- 5. Help to save money
An important area a financial adviser can help with is to look at your tax, even the most basic overview of your position could help. It may simply mean using ISAs or a pension plan to benefit from Government incentives or it could mean choosing growth assets over income to use capital gains allowances rather than pay income tax. Alternatively, for more complicated arrangements, it might mean moving assets to your spouse or children to make full use of their personal allowances.
- 6. Help to keep you on track
Even when you have every product you need taken care of and your investments are set up and running to plan, someone needs to keep an eye on them in case changes in markets or abnormal events push them off course.
- 7. Help you gain peace of mind
Money is a complicated subject and there are many things you need to think about to both protect it and make the most of it. Markets are volatile and the media is prone to exaggeration of both the risks and the rewards.
Employing a good financial adviser can take the emphasis away from you and move it into the hands of an expert.
Whether you need general, practical advice or a specialist with dedicated expertise, the money you invest in taking advice could be paid back many times over in the long term.