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Why Use a Financial Advisor?




Now more than ever has using a Independent Financial Advisor (IFA) been more attractive. 
 
With the bewildering variety of financial products that are out there that inertia is quite understandable.  As anyone who's ever tried to choose a pension or mortgage will know, sifting through the various products available is about as attractive a prospect as sorting out the contents of the loft.

And that's where financial advisors can come in handy. Forget, for a moment, press reports about dodgy financial advice and the mis-selling of pensions.

At the heart of the IFA philosophy lies a very attractive proposition - independent experts who know the market, know the products on offer and can match you with the best deals for you.

At their best, they should be trusted professionals with your best interests at heart who can help you to navigate the finance maze.

IFA’s are bound by their training and regulatory bodies to offer only 'suitable advice', which must be objective and impartial and must be geared to your individual needs.
The received wisdom on pensions, for example, is that you should start paying contributions as soon as you possibly can - which is likely to be in your early 20s when you start work.

But many people these days don't have a company pension scheme yet are put off other options due to the bad press they've received. Others are reluctant to even think about committing to a private plan as they find them far too confusing.

If this sounds like you, bear in mind that the ostrich approach isn't going to get you anywhere. You need to seek help in choosing a private plan that's best for you and an IFA is just the person.

Other issues that IFA’s can help with include providing for your family, retirement plans, healthcare, inheritance planning, mortgages and investments.

Finding an IFA may not be as difficult as you think. Ask friends or relatives if they can recommend one, or contact the IFA on 020 7833 3131 or www.unbiased.co.uk
When choosing an IFA, ask about their experience, qualifications, specialism’s and the level of service you can expect. For example, check whether you'll always see one IFA or several from the same company.

Your relationship with your IFA could be a lengthy one so it pays to choose somebody you get on with. Arrange meetings with three or four people and take your time in choosing.

The IFA you go with is there to help in whatever way you see fit. You may have specific issues you want to cover or you may be looking for a more generalised check-up on your personal finances. Your IFA should be adaptable and flexible in their approach.

Try sitting down and drawing up a list of points to cover at your first meeting. Whatever you focus on, your IFA will do some fact gathering before making any recommendations - and those recommendations will be down in black and white with written reasons why they think the products are right for you.

For more information the Financial Services Authority website, at www.fsa.gov.uk/, is a great source and includes pretty much everything you need to know.

Getting your finances in check is one of the best investments you can make.
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