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Why Do I need a Financial Advisor?

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The Benefits of Having a Financial Advisor

Many of life’s biggest decisions are of a financial nature, and having to make these without the necessary information and guidance can be challenging and stressful. Appointing a financial advisor means you do not have to make these choices alone and instead have the reassurance of knowing a qualified professional is there to help you reach the conclusion that is best for you. Most people are likely to need financial advice at some point in their life; there may be a trigger for this often due to a key life event such as buying a home, coming into an inheritance, changing job roles or having a child; but you can benefit from receiving financial advice at any point in time. 

Finding the right financial advisor is important to ensure they meet your needs and objectives. A financial advisor should be telling you more than just where to put your money; they should be able to not only assist you in achieving the goals you have outlined but also identify vulnerabilities that you may not even be aware of and provide a comprehensive solution to address these. To do this, a good financial advisor should be looking as your circumstances as a whole, offering holistic advice and working with you over the long term as your lifestyle evolves and requirements change to ensure the advice remains suitable and you continue to be able to achieve your objectives. 

What Services Can Financial Advisors Provide?

Financial advisors are often associated purely with investments, but many advisors can provide a range of services far beyond the likes of pension advice, many of which you may require to build, maintain and optimise your financial portfolio. These services may include Pensions, Investments, Savings, Insurance, Tax Planning, Mortgages, Estate Planning and more. 

Not only are financial advisors a source of guidance, both for one off financial transactions or long term support, they are also seen as life-long financial coaches, a sounding board for important decisions, an ear to bend and someone to bounce ideas off. 

All regulated financial advisors should be registered with the Financial Conduct Authority, who ensure their actions and advice are ethical and only ever in the client’s best interest. A financial advisor’s expert knowledge and industry experience can keep you up to date with any changes in legislation and regulations that may impact your future. They can also make sure that your finances work the way they should; structuring your income and investments to minimise your current and future tax liability, helping you make and save money or to just give you peace of mind on your financial position. Whatever your circumstances, the guidance of a financial advisor offers endless benefits. 

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