Why use a Financial Advisor

The financial services industry moves quickly. So it’s almost impossible for the man in the street to keep pace with new products, services and special deals.

That’s where your financial advisor comes in. Not only can your advisor find a ‘one off’ solution for you, they can also prepare a long term financial plan on your behalf which they will implement, monitor and change in line with your circumstances. In that situation, your financial advisor becomes almost a one-stop-shop for your financial needs.

Why should you use a financial planner or adviser?

The world of financial services can be a confusing and daunting. Even if your circumstances and financial arrangements are relatively straightforward there are lots of options to consider. Because independent financial advisors trawl the entire market for solutions, they can often negotiate preferential deals on your behalf.

Buying the wrong products at the wrong time can often be a waste of money. A good advisor will assess your financial circumstances, find out what your short-term and long-term aims are, and the – and only then – advise you on the best way to achieve your objectives.

Seeking expert financial advice can help minimise risk and squeeze the most value out of your available finances, whatever stage of life you’re at.

The benefits of Independent Financial Advice

One of the big advantages of taking financial advice through a qualified practitioner (click here to find out more about qualifications) is that it gives you access to all the products on the market. An IFA will ask their client a whole range of questions about their circumstances and financial goals: the advisor will also establish the client’s attitude to risk.

Once they have that information, the IFA will make recommendations drawn from the ‘whole of the market’. IFAs are answerable to the FSA (Financial Services Authority) and as such, must they adhere to very strict rules. And as they act on your behalf, advisors must always spell out – in writing – the reasons why they recommended a particular product or course of action.

Financial planning involves thinking about, and planning for, a broad range of current and future financial circumstances and needs. For those reasons alone, preparing a sound financial plan can be difficult and calling on expert knowledge can do much to ensure that the plan is successful.

Do it yourself v. professional advice

Going it alone…
Finding the most appropriate financial products involves considerable research, an understanding of the implications of charges, assessing the risks and identifying any potential taxation issues. Even with a relatively thorough and up to date knowledge of the market you may not identify all the available options and ultimately buy a financial product that doesn’t meet your needs or is entirely inappropriate.

Working with an expert…
An IFA has an up to date and broad understanding of all the most important aspects of the financial services market. Through study, and a commitment to their professional development over the long term, an advisor acquires the skills to identify your financial priorities and put together a plan to help you achieve them. That knowledge and experience backed up by the very latest research enables an advisor to identify and shortlist the most appropriate options for your specific needs. Once a plan has been established it should be reviewed regularly to ensure it is working as intended. As and when circumstances or priorities change, the plan should be adjusted to reflect those changes.

Finding an advisor you can trust

In common with other professions, independent financial advisors must, by law, be qualified. All the advisors on this website are formally qualified to provide financial advice. And as the application of knowledge is a skill that’s built over time, extensive personal experience is also an important attribute.

In addition, many advisers study for further qualifications which enables them to advise on highly specialised aspects of personal financial planning. Chartered Financial Planners for example are recognised as having attained the highest and most prestigious financial planning qualifications. Members of the Personal Finance Society commit to the highest standards of ethical behaviour and can be trusted to act in your best interests with the utmost discretion.

What our customers say…

Read More