Financial planning involves thinking about and planning for a broad range of current and future financial needs. It can be complicated, often calling for expert knowledge.
Doing it yourself Choosing appropriate financial products yourself can require considerable research, an understanding of the charges, risks and any tax implications, which aren’t always straightforward. Without knowledge of the market you may not fully appreciate the options available to you, which could result in buying something that doesn’t meet your needs.
Taking financial advice Financial advisers have specialist knowledge and usually have a broad understanding of the financial services market. Through studying and committing to professional development an adviser can help you to identify your financial priorities and then put together a plan to help you achieve them. Financial advisers have access to the latest product research and will be able to recommend a range of potential options and help you choose the most appropriate financial products to match your specific needs. But it doesn’t stop there: Regular reviews are necessary to ensure the plan is working and to adjust it to reflect changing circumstances, incorporate any new priorities or to account for changes to legislation.
Finding an adviser you can trust As with most professions practicing financial advisers require a minimum level of qualification. All those listed on this website are qualified to give financial advice. Click here for more information. Experience is important too as the application of knowledge is a skill built up over time. Advisers often study for higher qualifications to demonstrate specialist knowledge and regularly refresh that knowledge throughout their career. Chartered Financial Planners are widely recognised as having attained, and maintain, the highest and most prestigious level of professional achievement. Members of the Personal Finance Society commit to the utmost standards of ethical behaviour and can be trusted to act in your best interests with absolute discretion.
www.findanadviser.org for financial advice you can trust
