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5 Signs it’s Time to Speak to an Independent Financial Adviser

The world of finances can sometimes feel like a minefield, but with financial management services you don’t have to face it alone

Whether you’re looking to invest for the future, prepare for retirement, find competitive savings accounts or simply get to grips with your financial situation, help and advice should always be welcome.

And unlike some advisors from specific banks or brands, independent financial advisors offer transparent advice centred around your needs.

With the support of an independent financial advisor behind you, you can gain a better grasp of the opportunities and challenges in front of you.

When do you need independent financial advice?

There are many reasons why people opt for independent financial advice. But transparency and trust are, more often than not, at the top of that list. With expert advice and relationships built on accountability, an independent financial advisor can be a vital ally when attempting to get to grips with your financial situation.

But when is an independent financial advisor necessary? Here are five signs it’s time to seek out an advisor’s support.

You can’t find time to focus on your finances

One of the most common reasons for seeking independent financial support is simply not having the time to stay on top of your finances. Whether you’re running your own business or simply looking to complete some smart financial planning, it can be difficult to find the time.

We all have other things we’d rather be doing, and it can be challenging to know where to start when it comes to getting your finances in order. An independent financial advisor can be a smart way to stay on top of things.

Your situation has changed

No one’s financial circumstances are static for long. Things are constantly changing, whether its personal assets, funds, income, business structure or private financial arrangements.

Seeking independent financial advice is a smart step towards clarity. An advisor with your best interests at heart can advise you on both personal and business strategy, providing both long-term and short-term support to ensure that you aren’t overwhelmed by changing circumstances.  

You’re close to retirement

Retirement is one of the most dramatic changes in circumstances we go through in life. These days, retiring is far from the simple process we all want it to be, and a significant amount of financial planning is necessary in order to ensure you get the best out of your pension.

Some people may choose to take their chances with their default retirement option, but an independent financial advisor can help you explore the various options available to you. Whether you’re looking to invest in a personal pension, boost your existing pension provided by an employer or merge different pots from existing pensions, getting advice is the best course of action.

Retirement is a massive shift in both your personal and financial circumstances, and seeking out support can help you work towards a tailored, personalised solution that will help you stay financially self-sufficient for the rest of your days.

You want to invest

No matter how much time you spend considering it, investing is always a bit of a risk. The idea is to minimise that risk as much as possible and to do that you need to do your research and seek out expert advice.

Products like shares, unit trusts and other investments are harder to understand than cash savings products, so seeking financial management services is useful for bolstering your knowledge and giving you vital insight.

Ask yourself questions such as:

  • Do you have time to research different investments?
  • Do you have experience and knowledge of investing?
  • Are you ready to take responsibility for any poor investing decisions?
  • Can you afford to lose money?

If the answer to any of these is no, seeking financial advice is your best option.  

You’re getting insurance or a mortgage

Thanks to the internet, insurance products and mortgages can be widely purchased from both suppliers and through price comparison websites.

This might make you feel more inclined to make a quick decision, but speaking to an independent financial advisor is still highly recommended. A specialist can guide you through a range of options and choose the one best suited to your circumstances, ultimately helping you get a better deal.

In the end, seeking out an independent financial advisor means you’ll have a useful friend on your side – one with the expertise and experience to help you get to grips with your financial circumstances and opportunities.

If you’re in need of financial management services, speak to the team at Carrick Financial Management today. We offer expert and impartial financial advice centred around your needs.

Contact our team today by clicking here, or speak to one of our team today 0191 217 00 07.