Making sure your money is working hard for you is one of the best ways you can set yourself up for a secure future.
But in many cases, we can’t do it alone. After all, the financial world is complex and ever-evolving, so keeping up with it all and making decisions with confidence can be very difficult.
That’s why more and more of us are choosing to get independent financial advice.
In fact, figures from Bovill show that the number of clients receiving ongoing financial advice has risen by more than 50 per cent since 2016 – up from 2.6 million in 2016 to 3.9 million in 2022.
That takes ongoing client numbers to a record level – a clear measure of the value that people feel they are currently getting from their financial advisers.
So what benefits can speaking to a professional expert offer you?
Personalised financial planning
A specialist financial planner will tailor their advice to your specific circumstances, priorities and objectives, rather than adopt a clumsy one-size-fits-all approach.
They’ll also make a point of acting in your best interests, and making sure they understand your tolerance to risk before suggesting a course of action.
That means you can be confident you’re making informed financial decisions that align with your goals.
Specialist knowledge and expertise
A professional financial adviser will receive extensive training and education throughout their career, and work hard to achieve certifications in various fields and disciplines.
In other words, you can be sure they meet certain standards and are up to date with the latest market developments, regulations, product offerings and investment opportunities.
Help you set clear and realistic goals
You can only create a strong financial plan if you have specific objectives in mind.
A financial adviser will work with you to make sure that your goals are realistic and achievable, so your plan is on a much firmer footing and likely to deliver the results you want.
Help you manage risk
It’s easy for an investor to make costly mistakes, so it’s well worth speaking with a professional financial planner who can assess your risk tolerance and advise accordingly.
That can help you avoid expensive losses, safeguard your assets and set you up to achieve healthy returns in the longer term.
Help you reduce your tax bill
Nobody wants to be paying more tax than they have to, but identifying and understanding strategies that can minimise your tax liability can be extremely difficult.
Thankfully, financial planners have extensive knowledge and expertise in this field, so they can advise you on steps you can take to reduce your tax bill, such as using tax-efficient savings and investment accounts and arranging your assets to ensure you pay less inheritance tax.
*The Financial Conduct Authority does not regulate Tax advice. Levels and reliefs from taxation may be subject to change and their value depends on the individual circumstances of the investor.
Peace of mind
Getting your head round the complexities of the financial world can be overwhelming and time-consuming.
Working with a financial adviser takes this pressure away, as you can trust them to oversee your financial affairs while you get on with living your life.
That can be invaluable as you make important financial decisions, and allows you to move forward with a degree of confidence, certainty and assurance that you’re doing the right thing.
If you have any questions about managing your finances and setting yourself up for the future, feel free to contact us and we’ll be happy to speak with you.
*Your capital is at risk. The value of your investment (and any income from them) can go down as well as up and you may not get back the full amount you invested. Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.