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Why do you need financial advice when considering your pension?

ByDave Stopher

Jan 4, 2021

Retirement continues to take an ever-increasing slice of our lifespan. This is largely thanks to an enhanced medical knowledge and healthier living styles. Many people in the generation which is now reaching their mid-sixties have failed to prepare properly for their years post -work and are subsequently suffering because they will not have enough funds. You can dream about your retirement as much as you like but if you have not got the money to get on the bus – you are going to miss out big time.

As we all know, pensions advice uk are a lot more complex than savings. With the advent of pension reforms – which have added great flexibility to how you use your pension funds, it can all seem a bit of a minefield. So good advice is needed. The advisor needs to have financial expertise, knowledge and networking capabilities to create a plan which is just right for you and your family.  A good place to start looking is the internet which offers a wealth of information, but a financial advisor is able to discuss your specific needs.  But what should you expect from a financial advisor?

  1. Your interests at heart

That can sound a little romantic, but it is true. All financial advisors in the UK have to be registered by the Financial Conduct Authority. Therefore, they are continuously monitored to ensure that any advice given is appropriate for their clients needs. A good financial advisor therefore has your needs central to his analysis of your funds and your future. To step outside of these boundaries will put themselves and their clients at risk. The goal of a financial advisor is to guide you through appropriate options. You always make the final decision which leaves you firmly in control.

  1. Advice tailored to your needs

The internet can offer excellent general advice. However, this information can only go so far. In order for advice to be of any real use it must take into account your circumstances as well as your vision for the future in detail. A financial advisor will take on board your needs and aspirations in order to tailor a retirement plan which will take into account risk and the greatest benefits. To understand how financial advisors construct personalized financial plans to achieve the financial goals of clients visit this site.

  1. Long-term support

The great thing about a financial advisor is the longer you are with them the more streamlined guidance will get. The more you will get to know each other hence it is likely the more efficient any financial plans will be for the future. You can always go back to your advisor when circumstances change and easily tweak any plans which are in place.

  1. Everybody’s goal: saving and making money

At the end of the day everyone wants to see their money work in the most efficient way for their future.  A financial advisor will have access to funding networks which will allow them to create the most beneficial plan for you. This factor married with a highly professional understanding of the financial and economic market, is indispensable.

  1. Peace of mind

If you go it alone, you will never be sure if you have taken the most appropriate path. Indeed, you may not be aware of all the options open to you. Also, you never have that facility of being able to discuss your position with someone who has the knowledge and can see where you are trying to get to. A financial advisor will show the options, guide you through the choices and allow you to make the decision.

Before looking at options for your pension, consider using a regulated financial adviser like Portafina or, view the info at Pension wise.