Naturally, everyone can benefit from professional advice on their finances.
So the question is, If you're not working with a financial advisor or planner, will you really do it yourself?
From busy executives and business owners, to working parents, you have a lot to deal with. It is hard finding the time to research your financial options, do the maths, evaluating your options and acting. More often than not, people don’t focus on their financial life. It tends get be pushed to the side and the thought “I’ll go through it later” creeps up.
Mostly, we tend to see clients who are looking to retire early and need to get their finances in order so they can keep the lifestyle they are accustomed to. We also see business people who are either looking to sell their business or have sold their business and need someone to help planning and implementing a financial strategy for their money.
We also have an article that explains how we add value to our clients lives here
Can I google my way through it?
Google is an amazing resource of information. But there is A LOT of information and it is not always accurate, up to date (we will get to this later) plus it can be very time consuming. Another problem with this approach to DIY finances, is that everyone is trying to sell you their investments, pensions etc.
The UK government regularly changes the rules when it comes to finance.
Let’s say you have a surplus of savings, you know you have an ISA account, but you read an article that says your annual limit is £15,000 and you therefore invested just £15,000.
That misreading alone could mean a great deal as £15,000 was the ISA allowance for the Tax 2014/15. The current ISA allowance is £20,000 for the Tax year of 2020/21, which means you’d have missed out on £5,000 of your allowance (which can’t be carried forward to future years)
It can get confusing we know, but this is where we are able to add real value, not just to your finances, but also peace of mind that your money is working hard in your favour in professional hands.
*Investments carry risk. The value of your investment (and any income from them) can go down as well as up and you may not get back the full amount you invested. Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.
Please note: This blog is for general information only and does not constitute advice. The information in this article and all others in The Learning Hub is aimed at retail clients only.