Make & Save Money at Home

Make & Save Money at Home

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Do you need a financial advisor?

Do you need a financial advisor?

In this post I am going to look at some of the reasons you may find yourself in need of a financial advice service, and the benefits of using a trusted financial advisor.

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To give you an idea of some of the reasons you might seek the services of a financial advisor they may include-

  • Securing a mortgage or equity release
  • Setting up or transferring pensions
  • Investments
  • Insurance
  • Planning for retirement

I personally have found a financial advisor very helpful after being gifted a sum of money from my grandparents and did not have much of a clue on how to put it to the best use.

After speaking to an expert who really knew what they were talking about I had a much better idea on how to invest, and will definately seek out a financial advisor again if I ever find myself needing advice on more complicated money matters.

What is a financial advisor?

A financial advisor can help you create a financial plan, set achievable financial goals, start or grow an investment portfolio, and help you make the most of your assets.

There are many different types of financial advisors with a range of specialities, some will focus on specific portfolios such as insurance, investments, or mortgages and equity release, others such as Macbeth will cover a broad range of Financial Services and products.

It is important to find an independent financial advisor to ensure you are getting the best advice tailored to your personal needs.

All financial advisors work on a non commission, fee-basis since 2012. This works to protect clients, and ensures there is no incentive to sell a product unless it is in the clients best interests.

The fee an advisor will charge could be made in several different ways,

  • Hourly rate -
  • This can vary wildly but better advisors are not cheap.

  • Set price -
  • For a body of work, this might be a flat fee or a percentage of the money you want to invest.

  • Monthly Fee -
  • For ongoing, long term work.

Make sure you seek out information from your advisor about ways they charge and find one that fits in with how you want to pay.

What are the benefits of using a financial services advisor?

A financial services advisor will be able to offer expert advice and guidance, and will often have access to a wider range of investment options that are only available within the industry and cannot be purchased directly from the provider.

Information from the internet or books can also be outdated or contain advice only suitable for people from a certain country.

Although it can be tempting to utilise free advice only an advisor will be able to produce a plan tailored to your individual circumstances.

Financial service advisors are regulated by The Financial Conduct Authority (FCA) and are expected to adhere to strict regulations, this offers peace of mind that you are protected if things do go wrong.

I hope this short guide is helpful.

This is a collaborative post and may contain affiliate links.

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