Reasons to speak to a financial adviser

Reasons to speak to a financial adviserA new study carried out by the insurer Aegon has found only 8% of people currently speak to a financial adviser before making important financial decisions.

Aegon found that most make financial decisions on their own, with 41% saying they involve a partner or spouse in their decision making.

This finding comes despite previous research which indicated low confidence levels around pension and retirement specific decisions.

That study found that only 14% of people were confident about planning their retirement goals and investing themselves, with just 20% comfortable deciding how to access their pension pot independently.

According to Steven Cameron, Pension Director at Aegon,

“The low take-up of financial advice is very worrying.

“Greater personal responsibility for retirement planning combined with increased levels of economic and political uncertainty, mean people need professional financial advice more than ever.

“In fact there are few people who wouldn’t benefit from financial advice at some point in their lives, especially since the introduction of pension freedoms.

Cameron went on to explain that the findings emphasised the scale of the task currently facing the Financial Advice Market Review, which aims to make advice and guidance more accessible.

Cameron continued:

“In the meantime, people shouldn’t feel they have to make financial decisions on their own.

“For some people, the support they need may be relatively simple and there are free sources of guidance available, for example from Pension Wise on pension freedoms. Providers and possibly their employers can also provide basic information.

“But for the more important or difficult decisions people should seriously consider paying for financial advice and in many cases, the benefits of getting things right can far outweigh the costs. It might be money well spent to ensure they are doing the best they can with their finances for their financial futures.”

Aegon published some helpful tips that you might want to consider when seeking financial advice:

Not sure where to start.

For those who have never sought advice before, it can be quite overwhelming to know where to start looking.

While friends and family might be the first choice of where to turn for help, don’t forget guidance is available from Pension Wise as a starting point while services like can connect people with a financial adviser.

Fear of cost.

Don’t rule out advice before finding out the cost, as it might be more affordable than you think. Make sure you check out the options.

The trust factor.

Unfortunately there are conmen out there and people should be very sceptical about unsolicited calls from people claiming to offer a free pension review or other forms of financial advice.

Here are 7 reasons to speak to a financial adviser when planning for retirement

  • Selecting a pension product
  • Planning your retirement goals and where to invest your money to meet them
  • Deciding how to access your pension
  • Consolidating your pension saving into one pot
  • Transferring a pension from one provider to another
  • Reviewing investment performance or changing funds
  • Inheritance tax planning

If you are approaching retirement, we would welcome the opportunity to meet with you and discuss how our services how help you make the most of your finances in later life.

We offer an initial meeting which is at our expense and without any obligation.

Do give me a call on 01483 274566 or email to arrange a meeting.


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