Whatever your circumstances financial planning is essential to make sure you are making the best decisions.
It is hard to reach your destination when you do not know where you are going. A financial adviser helps you to plan by setting goals and keeping you on track to meet those goals.
We combine this with our understanding of your current situation to give you a starting point.
Regular reviews help you to know where you are on your journey, and whether you need to make changes to stay on track.
Statistics prove that having a financial adviser can have a significant benefit on your wealth and financial security. This has been named the “Adviser Alpha”.
A Vanguard Investments study defines the adviser’s Alpha as “the difference between the return that investors might achieve with an adviser and the return that they might have achieved on their own”.
According to a range of research studies, Advisers add value in many ways:
- Optimising the use of tax-advantaged wrapper such as ISAs and Pensions can add 0.2% annual growth
- Reducing product or investment charges can add 0.6 – 0.9% annual growth
- Behavioural coaching, such as not panicking in a falling market, can add 1.5% annual growth
- Creating a spending strategy to withdraw money from the right product at the right time can add 0.3% annual growth
Finally, knowing someone is there, keeping an eye on your long term financial well-being, can’t be quantified.
As part of the Personal Finance Society Forces MoneyPlan we provide a free financial guidance report for serving and retired Armed Forces personnel. You can find out more about this initiative here.
For others, below is a list of useful websites that may be able to provide some of the assistance you are looking for:
- You can find Debt counselling help at StepChange and the Money Advice Service
- You can get free Legal advice and assistance at Citizens Advice
- If you are a First-time buyer you can find homebuying help at the UK Govt Help to Buy website