Read more about times when it could be beneficial to pay for independent financial advice

Read more about times when it could be beneficial to pay for independent financial advice

Neil Homer, IFA Stafford - When should you pay for independent financial advice?

Sunday 21 August, 2022

Our independent financial advisers recommend taking financial advice at key turning points in your life.  

Neil Homer, chartered financial planner Stafford said: 

‘Independent financial advice should not just be seen as the preserve of wealthy clients.  It is important that anyone experiencing a key turning point in their life gets independent financial advice, so they make the best financial decisions and are well placed to achieve their future goals.  For example, if you are approaching retirement, splitting from a partner, inheriting money, or just want to invest tax efficiently it might be worth taking financial advice, so you invest in investment products suitable for your personal circumstances.’

Free financial resources are available

Although free financial resources exist which help you make better financial decisions, they are not personal recommendations tailored to your lifestyle.  You may have to make many different decisions and understand complex rules and regulations.  The benefit of paying for financial advice is that our Lonsdale independent financial advisers understand retirement planning, inheritance tax planning and investment planning rules.  We also offer cashflow modelling so we can model your current and future expenditure to ensure you make the best choices. 

Which financial decisions do you require assistance with?

Retirement Advice – plan for a secure and enjoyable retirement

As you approach retirement there are many important decisions you will have to make to ensure you enjoy your retirement.  Firstly, you need to be confident that you have enough money to retire on, and our financial advisers can check this through cashflow planning. Secondly do you have enough savings and how are you going to access retirement income?

Investment planning – investing for your family’s security

Our independent financial advisers will set up an investment plan, so you achieve your lifetime goals. We invest in multi-asset portfolios that provide the most appropriate level of risk and return for your personal circumstances. 

We use a range of tax wrappers. including ISAs, Trusts, Offshore Bonds and Pensions. As Lonsdale Wealth Management is not biased towards any provider, we can select from the best investment managers.  We also invest in different asset classes and geographic regions, to reduce your risk. 

Estate Planning – Protect your family by reducing inheritance tax

Our financial advisers can review the assets in your estate to see if you will be liable to pay inheritance tax (IHT) in future.  If you are likely to pay inheritance tax we can provide a tax efficient solution, so your beneficiaries inherit as much of your estate as possible.  Our advisers can work with your accountant and/or solicitor to provide joined up financial, tax and legal advice.  

Long-term care – get financial advice and understand your later life choices

Long-term care can be expensive, and it is important to understand how best to fund it as there are a variety of available options.  Our advisers offer financial advice to you or a relative requiring long-term care so you can always pay care home fees.  Allan Ross our independent financial adviser in Ware is a member of the Society of Later Life Advisers (SOLLA) so all our advisers are up to date on long-term care policy.

In Summary…

Whatever stage of life you are at, our financial advisers can provide suitable financial advice.  If you are aged between 30 and 50 years old you will probably be focused on saving into a pension or investing, paying your mortgage, or funding education.  For those over 50 years old the focus is investing, saving into a pension or tax planning.  Anyone over 65 may be either retired or coming up to retirement and requiring advice on inheritance tax planning or long-term care costs.  

If you would like a no obligations initial consultation please contact your local adviser or complete our booking consultation form.

The Financial Conduct Authority does not regulate estate planning, tax advice, wills or trusts. The value of an investment and the income from it could go down as well as up. The return at the end of the investment period is not guaranteed and you may get back less than you originally invested.






Latest News Next Article Previous Article

Need financial planning advice?

If you would like a free initial financial planning review, complete the form below, or contact our St Albans, Barnet, Harpenden, Leeds & Bradford, Stafford, Ringwood, Ware, Wimbledon or Chippenham office.

Award one Award one Top 100 Advisers