There are lots of perceptions of financial advisers out there but the reality is that financial advice is one of the most regulated and protected activities in the country, with one consequence being that advice is overseen by regulators to ensure outstanding outcomes are achieved and in the rare event that something goes wrong, there is full compensation available.
Families can consult a financial adviser who, often for free as part of an initial consultation, will be able to explain the steps to help set individuals and families on a path to financial security.
These steps are not rocket science, but if implemented, may result in life-changing consequences for the better.
The first consideration will be to ensure there is protection in the form of insurance for the breadwinner’s income. Imagine if they were prevented from working through redundancy, illness or injury? Who would pay the bills? What would happen if, God forbid, the breadwinner fell under a bus?
With a simple insurance policy that may cost only a few pounds a month, the family’s debts would be cleared, including the mortgage. The alternative may be repossession.
Another area of expertise that your financial advisor has is the ability to set up a suitable pension savings scheme. Several fantastic things will happen. Firstly, the government will add additional funds to the savings (from money that would otherwise have been lost in tax – so free money). Secondly, the effect of compounding growth over time will cause those invested funds to grow until thirdly, the pension pot is capable of providing a retirement income further down the line.
Whatever path you choose and however much money you have, make sure you do it with a qualified adviser.
If you have questions you need answering, our professional advisers would love to assist you and your family.
For more information, call us on 01403 214200 or visit our website, www.ipfinancialadvisers.net
A pension is a long-term investment. The fund value may fluctuate and can go down. Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax legislation.
The plan will have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.
Approved by In Partnership FRN 192638 May 2025.
In Partnership Financial Advisers Limited trading as In Partnership is an appointed representative of The On-Line Partnership Limited which is authorised and regulated by the Financial Conduct Authority. Registered No. 5869204. Registered in England & Wales at On-Line House, 50-56 North Street, Horsham, West Sussex, RH12 1RD.
