PUBLISHED: 05:06 15 December 2014
It’s often over Christmas and New Year that we think about our financial futures, but few people really have the time or inclination to understand the hundreds of financial products currently on the market.
It’s often over Christmas and New Year that we think about our financial futures, but few people really have the time or inclination to understand the hundreds of financial products currently on the market and the best options to suit their particular needs – to do so would be a full time job.
The great news is that professional advice is easily available to guide you in selecting the right investment products for you. Not sure? Well, a study by the Association of British Insurers found that independent financial advisers (IFAs) are the most trusted source of advice. Here are some of the reasons why we always recommend seeking advice from a financial adviser such as Lovewell Blake Financial Planning Limited.
To navigate the sea of financial products and offers.
Considering the busy lives we all lead, it can be difficult to find the time to keep fully up to speed with everything that’s going on. Especially when you consider that the financial world and tax legislation are unlikely to remain the same throughout your lifetime. A good financial adviser will discuss your investment objectives and tailor advice specifically to you.
To help understand the world of finance.
Fluent in the language of finance, financial advisers can act as excellent translators. So whether you want to understand the implications of a decrease in interest rates, or of a change in pension legislation, a financial adviser will be able to discuss how each directly affects you.
To find the right balance.
Investment is as much about managing the potential downside as it is about targeting potential gains. Generally, higher returns come with higher risk and a financial adviser can help you think about your attitude to risk and then help you to achieve the right balance for you.
To help you spend and save.
A financial adviser will help you consider how much you spend and how much you can afford to put aside now. Whether you can save £10 or £1,000 a month, they will help you make the most of your money and put achievable goals in place.
To keep you on track.
As time passes and your lifestyle changes, it is important to keep a regular check on your financial goals. A financial adviser will regularly help you review your current position to make sure you are still on track to achieve your goals.
For peace of mind.
Money is a complicated subject and there are many things you need to think about. Stockmarkets can be volatile, and any information you gather from the media can often be exaggerated, whether positively or negatively. Taking advice from a financial adviser takes the emphasis from you and puts it into the hands of an expert.