Five Reasons to Talk to a Financial Advisor

‘Pensions’, ‘investments’ and ‘savings’ are words we hear every day. We are faced with so many different options regarding these that it can often be confusing to distinguish which ones will work best for our personal circumstances.

Whether you want to set aside a small amount of money each month or want to increase your capital, it is important that you are well informed about the options on the market that are relevant to you. One way to find some clarity is to seek some unbiased advice from an IFA (independent financial adviser). Independent financial advice can offer guidance on a number of important financial issues.

Other financial problems may also require the help of professional advice, from getting out of debt to comprehensive mortgage advice.

In this article, we’ll explore five key reasons why seeking advice on financial matters can be beneficial to all of us in today’s climate.

Impartial advice.

The role of an independent financial adviser is not to sell products, but to offer advice on the options that best suit your circumstances.

They have extensive knowledge of the financial market without bias, so no matter what the query or how complex it is, they can help you find the solution to suit your needs without obligation or big sales.

The ethical nature of seeking independent financial advice provides peace of mind and gives consumers the opportunity to have their financial queries answered by experts in the field.

Decoding myths.

There are many common misconceptions surrounding financial problems. A recent report from Prudential showed that one in six retirees have not saved for their retirement and intend to rely on their state pension despite not knowing how long to expect.

Prudential’s retirement income expert, Vince Hughes-Smith, explained that the state pension should be viewed as a “safety net” that contributes a mix of “company pensions, savings and investments” to form a retirement package. general. Despite the slight increase in the state pension to £107.45 for all single people, this only provides a fairly low single income for retirees.

Independent financial advice can help simplify pensions, retirement planning and many other relevant areas by providing clear, concise and up-to-date information and answers to any questions consumers may have.

Are you protected?

Life insurance is something that is often overlooked. Consumers may feel that they are too young to think about it or people may feel that it is too expensive for them.

However, there are many different options available on the market to secure the future of families in the event of the worst, ranging from a Family Income Benefit that provides a stable income for the continued protection of families to Life Insurance. personal accident that offers payments for the loss of the use of limbs or sight. .

Independent Insurance Advice can provide advice on all of these, many of which start from as little as £4.99 per month. Independent financial advice can also offer a no-obligation review of current life insurance packages to see exactly how protected your family would be in a worst-case scenario.

Debt management.

The four letter word that no one wants to hear or talk about. However, with figures for outstanding debt in the UK alone reaching almost £1.5 trillion, it’s clear that dealing with debt is a real cause for concern.

Getting into debt can often happen quickly, however getting out of debt can take years; it can often seem so daunting that there may seem to be no way out. However, to get rid of debt, it is important that clear debt management plans are drawn up and that credit ratings and scores are recognized to avoid bankruptcy. There are a number of charities that can offer ethical debt management advice on a not-for-profit basis.

This can come in the form of helping improve your credit score, managing student debt, creating monthly budgets, and most importantly, avoiding additional debt in the future.

Mortgage help.

Buying a property is usually a key milestone in people’s lives. However, getting a mortgage can often be a lengthy and somewhat confusing process, especially in today’s times when the different options on the market can seem endless.

Whether you’re a first-time homebuyer or looking to re-mortgage, speaking with a mortgage advisor can provide details on the best mortgage rates and help you find the best mortgage options for your personal circumstances.

Speaking with an expert in the field without obligation can help make a life-changing step seem significantly more manageable.