Article
What can a Financial Adviser do for you?
5 min read 27 Nov 24
Have you ever thought about engaging the services of a professional for financial planning? Navigating financial decisions can often feel overwhelming, especially when faced with key life events such as buying a home, planning for a child's future, or preparing for retirement. Engaging with a financial adviser can provide the professional guidance you need to make informed choices that align with your personal goals.
Never thought of using a financial adviser before?
A lot of people might not think that a financial adviser is for them. Having a professional adviser might be perceived as the reserve of those with expansive investment portfolios and the like. This is not the case as our advisers can help with a whole range of financial decisions. All of life’s events and planning stages involve some kind of saving. Specialised help can go a long way to putting you on the path to financial security. Now might be the time to think about engaging the services of a financial adviser.
Whether you are considering how to secure a suitable pension or how to organise savings for your first child, there are numerous ways in which a financial adviser can assist you. Let’s look at the benefits of working with a financial professional, particularly during significant life transitions.
The key things a financial adviser can help with?
A financial adviser plays a crucial role in helping you manage your finances effectively, ensuring your money works harder for you. They provide tailored services that align with your long-term goals, assisting in various areas such as optimising tax allowances, making smart investment choices, and building a robust pension plan. This support is invaluable as you navigate different stages of life, enabling you to achieve financial security and peace of mind.
- Organising your pension
A financial adviser ensures your pension is well-structured and aligned with your retirement goals. They will assess your current pension arrangements and recommend adjustments to maximise your savings. By considering factors like your desired retirement age and lifestyle expectations, they can help create a personalised plan that meets your specific needs, allowing you to plan for the long-term.
- Saving in a tax-efficient way
Optimising savings is another essential service provided by financial advisers. They utilise tax-efficient strategies and investment vehicles to help you make the most of your hard-earned money. By advising on various tax allowances and reliefs, they ensure you are not paying more tax than necessary, ultimately increasing your overall savings potential.
- Setting long-term financial goals
Setting long-term financial goals can be daunting, but a financial adviser can help simplify this process. They assist in defining, prioritising, and achieving your financial objectives through tailored planning and regular reviews. This ongoing support ensures you stay on track, adapting your plan as your circumstances change over time.
To further illustrate the role of a financial adviser, we spoke with Ryan Milne, an adviser with M&G Wealth Advice. Ryan emphasised the importance of understanding a client's unique situation and objectives, especially for those seeking professional advice for the first time;
Understanding a client's financial goals, their attitude towards risk, and their individual circumstances is essential for me to provide tailored financial advice. It allows me to create strategies that align with their needs and aspirations to help them get on track for a more financially secure future.
This personalised approach enables our team to provide comprehensive strategies that cater to individual needs.
How much could you save by using a financial adviser?
The financial benefit of taking advice from a professional can be significant. Research* from the International Longevity Centre (ILC) found that individuals who engage with financial advisers could be as much as £47,000 better off over a decade compared to those who do not seek professional guidance. This figure underscores the importance of expert advice in maximising your financial potential. For more details on the research findings and the impact of financial advice, please visit our Why Advice Matters page.
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Regardless of your circumstances or life stage, everyone can benefit from some form of financial advice, and M&G Wealth advisers are well-equipped to assist you. Whether you are looking to optimise your savings, plan for retirement, or navigate any significant life event, our team is on hand to help you every step of the way.
Take the first step towards a more financially secure future and book your no obligations chat.
*ILC-UK, (International Longevity Centre -UK) 'The value of advice' report, 2017. The research explored the impact of financial advice between 2001-2006 on financial outcomes in 2014-2016. Due to the fact this study was carried out over such a long period, it is the latest data available.
