Many people, when they think of a financial adviser, bring to mind someone who helps people organise their vast sums of money and invest it to make even more. Really, though, this is a pretty inaccurate image, and financial advisers help a lot more people than just the rich.
In fact, there are plenty of situations where getting independent advice from an expert on financial matters is incredibly useful. So, even if you've never considered financial advice as being something you need, you might want to rethink if you fall into one of these groups.
If you have children, you'll want to make sure they're financially supported at least until they reach adulthood. A big part of this is ensuring there's money available for them to pursue whatever educational or career aspects they might have, which can add up to a pretty large sum.
A financial adviser can help you find the best ways to save for your children's future, whether it's dealing with a lump sum or gradually building a stash of money or investments. They may be able to advise you on products you wouldn't find by just going to your bank, and being independent, they'll know about a much wider range of options.
People with an inheritance
When people inherit a lump sum of cash, they don't always make the most of it. Typically, it either gets spent or stuck in a standard savings account for a rainy day.
If you come into an inheritance, seeing a financial adviser is a very good idea. Unless you're an expert yourself, it's the only way to make sure you're making the most of the money you've inherited, and you could be missing out on serious growth if you don't.
Small business owners
With any business, it's a good idea to have some funds stored away so you're ready for any eventuality. An adviser can help you work out the best way to organise your business finances so you won't be short on funds when you need them. They can also help you grow a strong monetary backbone to keep you afloat in slow times.
There's a sad lack of people who actually take the time to think about retirement, but those who do can always benefit from external advice. If you choose to see an adviser, they can check through your pension plans and highlight any improvements. They may be able to help you move your savings to a product with greater benefits.
If you haven't started planning for retirement, then perhaps it's time to start, and a financial adviser can help you get set up with a robust plan.Share
15 August 2017
Hello, my name is David and this is my new money blog. My old grandpa always used to tell me to look after my money because the bank wouldn't do it for me. I didn't believe him. But after leaving school and getting a job, I realised that as an adult, I would need to look after my own finances. I had a look at the different savings and investment options out there, but to be honest, they just made me confused. In the end, I called up a financial advisor who helped me to plan everything out and to find the best way for me to save and invest money.