Reasons you might choose to seek financial advice

You don't have to have complicated offshore accounts to benefit from the expert help of a financial adviser.

Whether you're looking for pension advice, buying life insurance, or looking at investments - financial advisers are focused on delivering the best financial outcomes for you and your family.

Is financial advice for me?

Lots of people benefit from advice from a financial adviser. Because an adviser can choose from a much bigger range of products than is available to you online, they can tailor their recommendations to suit your budget - whatever that is.

Perhaps you're keen to start a pension or need insurance for your first home? You might have been working for a while now and want to put all your pensions in one place, or perhaps you're buying a bigger home. Whatever stage of life you're at and regardless of what you need help with, there'll be an adviser that can help.

It's important to find an adviser who is best placed to help you with what you need. They should agree any fees with you upfront so you don't get any nasty surprises further down the line.

How can a financial adviser help me?

  • Personal advice – a financial adviser will find a solution that’s right for you, rather than just hand you an off-the-shelf, one-size-fits all product. They’ll ask you questions about you, your job, family and lifestyle to get a full picture of who you are and what you really need – whether you’re a first-time buyer, a business owner, starting a family, or preparing for retirement.

    A financial adviser can also research the whole market to find the right product for you. Because of this, they could have access to products that are more suitable for you than those available to you online.

    And, when it comes to insurance, not all plans are just about a cash pay-out. Some also include extra benefits - things like support from a qualified nurse, or bereavement counselling that you can access without making a claim. Plans like these are commonly only available through a financial adviser, so it can be useful to use their expertise to make sure you’re getting a product that suits your specific needs.
  • Peace of mind – a financial adviser will be able to look at the policies you already have. They’ll also look at the financial support your employer provides, and confirm what you’re entitled to from the state. This information will show where the gaps in your finances lie so you only buy what you need.

    Where your money is invested, and the positive impact your savings could have, may be as important as the returns you make. An adviser can guide you on important topics like where to invest, responsible investment and mutuality, helping you to both save for the future and build a future worth living in. 

    Discussing your finances with a financial adviser should reassure you that all your financial needs have been considered. Whatever they are both now, and in the future.
  • Proactive support –a financial adviser can provide life-long support to make sure the cover you have is still right for you.

    Things change so you might need to adjust your life insurance if you move house, have children or change jobs. Rather than leaving you to manage this yourself, your adviser can make the relevant changes so your plans are always valid and up-to-date.

    An adviser can also help to keep your pension on track. They can make suggestions about how much to pay in, project the value of your pension as well as make suggestions about how much to withdraw, and when, once you reach retirement.
  • Practical help – if you ever need to make a claim, your adviser will help you with this. Whether that’s making the initial phone call or following up with any paperwork for you. It’s a financial adviser’s job to support you throughout your partnership with them – and that includes the aspects that can often be more difficult for you during an emotionally challenging time.

Questions to ask your financial adviser

How much am I likely to pay?

Reason: An independent financial adviser must tell you how much they charge before you commit to anything (it’s part of the rules that all advisers have to stick to). The adviser might not be able to tell you exactly what you’ll pay, but they should be able to give you an indication and perhaps even an upper limit.

Do you have many clients who are in a similar position to me?

Reason: It’s always worth finding out if an adviser has a lot of experience advising clients in a similar position to yours.

How risky are the investments you’re suggesting for me?

Reason: You'll want to understand how much risk you're taking with your retirement savings. Your adviser will run through a risk questionnaire to understand what your attitude to risk is. They'll then recommend products that match this level of risk. You need to ask yourself whether you're comfortable to take this risk or not.

The value of advice

It’s true that we can buy so many things ourselves online now, from flights to holidays to pizzas and fridge freezers, without having to go through a middle man. But when it comes to something as important as our finances, it pays to go to an expert.

Find out more about our insurance and pension products available through a financial adviser.