What are the benefits of getting advice?
Everyone has different goals in life. But whatever your goals, getting advice from a qualified financial adviser can help bring you closer to achieving them. When it comes to managing your money, trying to build wealth, securing your future and drawing up an effective plan for fulfilling your investment objectives, it can be well worth hiring professional help. Many people will also face big financial decisions during their lifetime, having an experts opinion can help make those decisions easier.
Here are some of the top benefits of a financial adviser:
Industry knowledge
They are professionals who will be able to offer you a wealth of knowledge, qualifications and experience that is difficult or impossible to achieve yourself. They will have years or even decades of experience working with and for other professionals in the world of investment and financial management. They will understand how complex financial products work and how these products may be able to benefit you.
Certified
They must be properly qualified to give financial advice. All financial advisers must have attained ‘Level 4’ qualifications such as a Diploma in Financial Planning before they can provide financial advice. They must also be able to prove they keep their knowledge up to date by having an annual Statement of Professional Standing.
Tailored & Suitable solutions
Good advisers will understand every investor is different and has their own specific financial issues and goals. They will be able to provide you with a range of solutions tailored to your individual circumstances.
Exclusive products
Independent financial advisers can review the whole of the marketplace to provide their customers with impartial advice and recommendations, they often have access to exclusive products and deals from a variety of providers which the general public would not.
Research all options
Research is a huge part of investing and financial advisors usually spend much of their time on research – They can do all the hard work for you! When considering your particular investment needs, they will research the best opportunities. If they don’t already have the answers to any questions you may have immediately to hand, they will establish the right answers.
Protect your family and assets
Financial Advisers are good at ensuring their clients have the appropriate policies in place to protect their family should anything happen to them or their money. They will discuss with you the most appropriate level of cover and the different types of plans that are available.
It is dangerous to assume that all protection plans are the same but as a lay person without assistance it would be easy to take out a plan that is not a perfect match for your circumstances. A financial adviser once they know your details is able to identify the best type of plan to provide an income or lump sum to suit your circumstances at the most competitive price.
Peace of mind
The chance to relax when it comes to your finances. You can feel safe in the knowledge that an investment professional is taking care of a wide range of challenges and questions you would have otherwise have to deal with.
You’re protected if things go wrong. Whilst you won’t be able to complain if an investment you signed up for doesn’t perform as well as you’d hoped, you can complain if you’ve been given misleading information or bad advice. If you don’t feel your complaint has been answered satisfactorily by your adviser, then as long as they are authorised by the Financial Conduct Authority, you can take your complaint to the Financial Ombudsman who has legal power to put things right.
Even if you have your financial house in order, a financial adviser provides the comfort and peace of mind of a well thought out plan, a plan that ensures you are better prepared for the future. But also, advice can extend beyond measurable financial gains, to improved physical health, stronger relationships and personal happiness.
That’s the true value of advice!