5 Ways an Independent Financial Adviser can help you.
Many people think financial advice is only required by the rich. However, everyone can benefit from an Independent Financial Adviser.
An Independent Financial Adviser (IFA) acts on your behalf, working for you, not an insurance or investment company and not restricted to a panel of providers.
An IFA can help you protect and build your assets. They can help you make the most of your investments and help secure you and your family’s long-term future.
Here are the top 5 ways an IFA can help.
To protect your family.
Many people always try to sell you insurance of one type or another, but an Independent Financial Adviser can tell you which one is worth buying without bias.
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 have long left home.
To help plan for your retirement.
Once you have sorted your short-term saving needs, you can start thinking about the long-term and most people these days realise they cannot rely on the state for more than the basics.
However, planning for retirement is a complex business, and many options are available.
Your workplace auto-enrolment scheme is a start. Pensions have come a long way in terms of flexibility and transparency in recent years and now offer a wide range of investment options.
An IFA will help sift through the many rules and product options and help construct a portfolio to maximise your long-term prospects.
Securing your house with an Independent Financial Adviser.
The mortgage market was complicated enough already, with its discounts and variables, AERs and caps, and early redemption fees.
Then, the credit crunch and the pandemic hit, and with recent inflation and interest rate increases, things became more complicated.
However, buying a house is still one of the most expensive decisions, and most of us need a mortgage.
An Independent Financial Adviser could save you thousands, particularly at times like this. Not only can they seek out the best rates, but they can also help you assess sensible borrowing levels.
They can show you how to make the most of your deposit and find lenders otherwise unavailable to you.
Obtaining you valuable options like portability and over and underpayment facilities.
To save money.
Once your risk and investment assessments are complete, the next step is to look at tax, and even the most basic overview of your position could help.
It may mean using ISAs or a pension plan to benefit from Government incentives. 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 use their allowances fully.
They will help you keep track of all the most competitive saving rates for your cash or investments. An IFA will always consider your tax position when making recommendations and can help point you in the right direction, even in complicated situations.
An Independent Financial Adviser can bring 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 the risks and rewards.
Employing a good Independent Financial Adviser will aim to keep things simple and 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.
Please don’t hesitate to contact us today if you need help.