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A little advice can go a long way


Knowing when to speak to a financial adviser is often a hurdle for people to jump.

There is no hard or fast rule in deciding when is the right time to seek professional advice about your finances, but it can be a good idea to do this when you begin to consider using more complex financial products, or if you are not confident about doing the research yourself.

The time to think about speaking to someone may be when you decide to start paying in to a pension scheme, or when you are reaching retirement and need to organise turning your savings into an income. It could be when you buy a home and need to arrange a mortgage, or when you start a family and need to arrange a financial protection policy. It can help to steer you safely towards investing for your future, for school or university fees or to invest for a significant life event.

A good financial adviser will help you to define the goals that are important to you and put the arrangements in place to help you achieve your objectives.

Here are five reasons why using a financial adviser can be of benefit;

  1. Avoid paying tax unnecessarily. Whether it’s making sure you use your ISA allowance, ensuring you take advantage of the tax incentive of a pension or to reduce your inheritance tax liability, a financial adviser will help you to manage your money in the most tax efficient way.
  2. Ensuring you have proper protection. This could be an insurance policy relating to your business if you are self-employed, or to protect your family’s financial position against the impacts of ill health or death. Whatever the need, a financial adviser can help you to put the most appropriate and affordable policies in place. Those with pre-existing medical conditions can benefit from taking advice as financial advisers often have extensive knowledge of insurer’s specific underwriting criteria.
  3. Maximising your income in retirement. Whether you choose to buy an annuity or you have an alternative investment strategy for taking an income at retirement, your financial adviser can ensure you make the right decision and receive your best possible income. Whether it be shopping around all annuity providers to see which will offer the highest income in light of your health  or helping you to invest in line with  your attitude to risk, an advisers knowledge  at this point is invaluable. 
  4. Helping to turn wishful thinking into reality. Too often people go through life and find themselves disappointed when there isn’t the money available to fulfil the plans they had made. Using a financial adviser can help to focus your thinking by setting goals and putting in structured plans to work towards.
  5. Helping you out of difficulty. Whether it is a long-term care issue for you or elderly loved ones, or an income issue because too much of your wealth in locked into a property, a financial adviser can often help. It is not uncommon for wealthy people to find themselves in financial difficulty because their assets are not accessible or their life needs change. A good financial adviser can help you to review your investments and restructure them if required to meet your changing needs. 

If you’d like to talk to us about your future please get in touch, we’d love to help.   

Date issued: 10.12.15

Please remember any views or facts expressed above are based on information received from a variety of sources which we believe to be reliable, but are not guaranteed as to accuracy or completeness. Any expressions of opinion are subject to change without notice. None of the information should be regarded as advice. Past performance is not a reliable indicator of future results. Investing involves risk and the value of investments and the income from them may fall as well as rise and is not guaranteed. Investors may not get back the original amount invested. Any tax treatment is dependent upon individual client circumstances and may be subject to change.

Sanlam is a trading name of Sanlam Wealth Planning UK Limited (Reg. in England 3879955) and English Mutual Limited (Reg. in England 6685913). English Mutual Limited is an appointed representative of Sanlam Wealth Planning UK Limited which is authorised and regulated by the Financial Conduct Authority.

Registered Office: St. Bartholomew’s House, Lewins Mead, Bristol, BS1 2NH.

Investing involves risk and the value of investments and the income from them may fall as well as rise and are not guaranteed. Investors may not get back the original amount invested.