April 21, 2023
As with everything else in life, healthy finances don’t just happen, especially when the cost of living keeps rising.
Achieving the lifestyle you want – whether in retirement or earlier – takes careful planning. With all the resources available online these days, it can be tempting to go it alone, but the right professional advice can make all the difference.
A qualified independent financial adviser can help you to plan ahead, not just looking at how much you can afford to invest in your future, but also by taking into account factors like inflation, market fluctuations and your financial protection needs. They can help you get a much more accurate forecast, making the goals you set more realistic and achievable.
Another upside to working with an IFA is one that we find a lot of people tend to forget about. Emotions play a bigger part in our financial decisions than some people realise, and can cloud our judgement, making it more likely that we’ll make illogical or irrational decisions; decisions which could have a significant impact later on.
We often see examples of confirmation bias, for example – where people seek out information that reinforces their existing beliefs. This can lead to over-confidence when making investment decisions – or make us over-cautious.
At Talis all our qualified IFAs take a completely objective view of the financial world. Since we are independent, we aren’t tied to any particular product portfolios, so your IFA will look at the market with you from your perspective, and make recommendations on what’s best for you. It’s completely transparent
They’ll be able to show you opportunities you may not have considered, and identify any possible risks you may not be aware of. They’ll help you to clarify your objectives – for example, how you want your future to look, what your plans might be for helping out your family, either during your lifetime or in your will, and how to protect your family’s finances if the unexpected happens.
When you decide to talk to a financial adviser, it’s important to speak to someone who will get to know you and your circumstances, and guide you towards decisions about your finances based on an understanding about how you want to live your life.
Having an experienced professional by your side can help you to set and manage your financial goals, creating and executing an investment plan tailored to your individual goals and circumstances.
There’s a huge choice of potential investment and savings opportunities out there, making it essential that you consider your options carefully. It also means that detailed knowledge of pension allowances, how to save in the most tax-efficient way and factors like inheritance planning have become even more important.
Perhaps most important of all for some people, the ability to give straight-talking advice in plain English helps you to make clear decisions.
Investment portfolios can become more complicated over time – for example many people have multiple pension pots.
It may benefit you to simplify your portfolio, bringing different investment pots together to make it easier to keep track, and minimise administration costs.
Your professional IFA will help you do this, constructing a streamlined portfolio with a clear strategy suited to your specific needs and risk tolerance and with an understanding of how to minimise your tax burden.
Here at Talis IFA we have been providing straightforward, fully independent financial advice for over 30 years, and now look after more than £180m of our clients’ money.
We’re a safe pair of hands, basing our advice on long-term outcomes rather than ‘get rich quick’ schemes. Equally, when the unexpected happens, we don’t go for knee-jerk reactions, but take time to explain our recommendations.
Whatever your stage of life or your dreams for the future, our focus is on making your money work for you and your family.
You can find out more about our professional financial advisers here.
site by motley.co.uk