One of the most common questions people ask when you bring up the topic of financial advice is: “What do financial advisers do?”

A good way to understand the role of an IFA is to compare the way you manage your money with the way you look after your car.

Most of us can sort the basics like checking the tyre pressure, renewing the wiper blades and topping up the oil and fluids.

But when it comes to the annual service or if something goes wrong with the electrics then we take our vehicle to an experienced qualified mechanic we trust.

In a similar way, while we may can deal with our basic day to day finances, when you talk about pensions, tax, investing and the more complex and critical financial decisions it makes sense to seek expert independent advice.

An IFA is professionally qualified in a wide range of areas and can help you in various ways including the following:

– Investment Planning
– Retirement Planning
– Pension Transfers
– Taxation
– Equity Release
– Protection
– Inheritance Tax

Financial advisers tend to be with you and your family through all stages of your life, so picking a financial adviser in which you feel comfortable with is important. Most financial advisers offer an initial consultation free of charge for this reason.

If a Financial Adviser is classed as “independent” this means that they are able to advise you on all types of products, from any provider across the whole market, thus their advice will be tailored to your independent needs and objectives.

Examples of when you made need advice:

If you aren’t sure what to do for the best for you and your family ‘s financial future – seek help from an IFA and don’t leave it all to chance.

Maybe you’ve had the same investments and pension products for many years, if so it’s worth speaking to an IFA to find out what they are worth now and if they still fit with your current needs.

You want to retire in 3 years, however, your unsure if you can afford to do so, an IFA can produce a detailed retirement planning report to see if it is possible.

This article aims to supply general information but it is not intended to constitute advice. Every effort is made to ensure that the law referred to is correct at the date of publication and to avoid any statement which may mislead. However, no duty of care is assumed to any person and no liability is accepted for any omission or inaccuracy. Always seek specific advice.