Who needs an Independent Financial Adviser?
Here's what they can do for you.
Whether you are just beginning your journey in the working world, are coming to the end of your career and heading into retirement, or are somewhere in between; the appointment of an Independent Financial Adviser (IFA) can help you to realise both your financial and personal goals.
Why appoint an Independent Financial Adviser (IFA)?
Appointing an IFA means that you gain access to their specialist knowledge and are able to utilise their skills to ensure you are best placed to achieve your objectives in the future; these could be long term goals such as being able to retire early, or retire with a particular annual income that you have in mind; or more short term whereby you are looking to save for a new car, or you have inherited a sum that you would like to invest etc.
Often sitting down to run the rule over your own finances can lead to further uncertainty as to the current state of your affairs; particularly if you have a multiple sources of income, debts to clear and pension pots here, there and everywhere. An IFA is able to come in with an outside perspective and can see more clearly where you are sat financially and how amendments to your spending behaviour, savings habits and general lifestyle can make achieving your financial goals.
Unlike particular advisers that are attached to a company or bank for example, any advice given by an IFA is based upon whole of market independent research. You as a client are viewed as an individual with your own needs and personality; as such any advice given is also given in the same vein. An IFA has no ties a particular product or provider so you can be safe in the knowledge that the advice given is based on what is best for you, rather than being biased by the interests of the adviser, or the provider they work for. They can for example be pushed to sell the products of their own company, or partners.
How do IFAs work?
Dependent upon your needs, an IFA can be appointed on a one time only basis, as a transactional service or to provide an ongoing review and analysis of your financial position and any investments. The following cycle is a typical example of the processes undertaken when working with one of our IFAs.
What can an IFA help you with?
IFAs can advise you on a number of different products and investments, as well as helping you with tax and estate planning. Please see the below list for a non-exhaustive list of the areas that an IFA could assist you with, with a couple examples for each:
- Investments (General Investment Accounts, Individual Savings Accounts)
- Pensions (Personal Pensions, Group Personal Pensions, Income Drawdown)
- Bonds (Onshore, Offshore)
- Tax Planning (Inheritance Tax, Estate Planning)
- Protection (Income Protection, Group Death in Service)
This list is just a small sample of the areas that we as IFAs can assist you with, and in your meetings and correspondence, the most tax efficient and suitable products and strategies will be chosen for you.
If you are looking for financial advice, please call us on 01733 355120 or email us at enquiries@hensoncrisp.com