Four reasons to use a financial adviser

By | February 1, 2020

One of the biggest concerns about engaging a professional financial adviser is the cost. It’s difficult to know if the fees they charge are too much in comparison with the financial savings or returns you may see as a result of their advice.

Different advisers have different fee structures, and advice website Money Saving Expert offers tips on how to make sure you’re not paying more for advice than necessary. That said, professional advisers are more expensive when compared with fees charged by automated ‘robo’ advice accounts, but the services they provide go so much further.

Financial advice is not only needed by the very wealthy, everyone can get advantage from it. It can assist you to safeguard and set up your assets and help you in making the most of your speculations and securing the permanent future of you and your family. Here are just four benefits for using an independent financial adviser.

A personalised financial plan

Meeting with an independent financial adviser (IFA) helps you focus on what you want to achieve. For example, you may be looking to retire early or need funds to help your children through university. With the help of an adviser, you can put together a realistic financial plan to reach your goal. To secure your permanent future, you need to set up some possessions – firstly to get you through the bad days and then to pay for holidays and luxuries. First is to schedule your investment so that you start to save, and second is to schedule that saving so that you can set up your wealth as useful as possible. Regardless of amount, a financial adviser can look at your condition and discover the best starting point for you.

Regular reviews

Even if it’s just annually, a financial adviser will discuss your finances with you regularly, to see how your investments are doing, and adjust them to suit any change in your personal circumstances to ensure you’re getting the best from your portfolio..

Specialised technology

A financial adviser’s role carries with it a great responsibility, and is subject to tight rules and regulations. They need to make sure their advice keeps up with changes in both tax and legal areas, and they need to make sure their advice is fair and appropriate for each of their clients. Vendors like Intelliflo provide software for financial advisers that supports everything they do, from researching the best products to maintaining customer details, and from providing online portals for their clients, to performing basic back office tasks, so that the adviser can devote more time to providing the best advisory service possible.

Product knowledge

The huge number of products available and the way they work is where your adviser’s expertise comes to the fore. Armed with specialist software for financial advisers, they can pinpoint the most appropriate products for your financial portfolio so that you have the best opportunity to achieve your goals. Every new investment chance or product is possibly to be accompanied by a specific amount of publicity but that doesn’t importantly mean it is correct for you. Investors will continue to be disposed by market ‘illusions or high charges because they rush headfirst in.

Many advisers offer a free consultation to help you decide whether you might benefit from their services. Remember to check that they’re regulated by the FCA. If any of the points are of interest or you would prefer to discuss your own scenario in more detail, please do get in touch with our team.