An interesting article, found on LinkedIn recently, nicely illustrates the added value that a good Financial Adviser can offer.
At EISFS, we take pride in the fact that we offer truly independent financial advice to EIS members and their family.
“Recent research has shown investors who take financial advice before investing their money made substantially more than those who invest on their own.”
Five benefits of having a financial plan
As well as growing your money faster, having a tailored financial plan in place brings a number of other important advantages.
Sitting down with an adviser will make you think hard about what it is you want to achieve with your money beyond your ISA investment returns. Do you have dreams of buying a boat, or retiring abroad? A financial planner will look at your overall goals and help you devise a realistic, achievable plan to turn them into a reality.
Whether you are the type to keep a close eye on your investments or you would rather simply invest and forget, taking advice from a professional means you will have annual reviews to keep track of your finances and progress towards your goals. The benefits are twofold; first it allows you to adapt your plan as your situation and needs change, and it refocuses your mind on what it is you are trying to achieve and allows you to make changes if you don’t feel you are on the right course.
A good financial planner will make sure your money is working as hard for you as possible. This includes minimising your current and future tax liability. The UK’s tax system is complex and difficult to navigate. A small oversight could cost you thousands of pounds in unnecessary tax. A financial adviser will be aware of the traps and will be able to make your finances as tax-efficient as possible.
There are seemingly endless investment and pension solutions available and each comes with their own rules, regulations and nuanced complexities. An adviser will do the time-consuming research for you and narrow down the range of investment options that are most suitable for you.
While you don’t have any guarantees that an investment will perform as well as you hope, your adviser can discuss options that suit your circumstances and make sure that you are not taking more risk than you need to.
For a review of your finances, call us on 0345 355 3242 to arrange a meeting.
The value of investments may go down as well as up and you may not get back as much as you originally invested.