Independent Financial Advice (IFA) can help protect and grow your finances. Without advice, you could find that you make poor decisions about (more…)
UK has worst state pension in the developed world
A study by the Organisation for Economic Cooperation and Development (OECD) has found that the state pension in Britain provides an (more…)
Wirral labour market maintains good state
The Office for National Statistics (ONS) provides information about the Wirral economy, and its recent Wirral Labour Market Profile report (more…)
How a financial advisor can save you money
Many people are put off going to a financial advisor because of the cost, but this is a false economy as an advisor can save you a lot more money than their advice costs.
Wirral business success
The Wirral region is a great place for business, and this is celebrated every year by the Wirral Business Awards. New and established business of all sizes are recognised, and the 2017 winners came from several business sectors, including tech companies, waste management services, food companies and consultants. The success of the winners and other expanding Wirral businesses has resulted in good financial returns to business owners and high salaries for employees that have made vital contributions to business growth.
Whatever your level of wealth, you can benefit from speaking to a Wirral financial advisor. The cost of advice can be offset by the extra wealth that can be achieved by following the plan a financial advisor creates.
What does a financial advisor do?
The first thing that a financial advisor does is ask you detailed questions about your financial situation. He or she will also ask you about your attitude to risk. This is so that the advisor can recommend financial products that are in line with the amount of risk you are prepared to take with your investments.
You will also be questioned about your short-term and long-term financial goals. You may be more interested in short-term income, or want to leave your money invested so that your capital accumulates.
The skill of the financial advisor is to match your financial goals and your risk attitude to the best financial products that will both protect and grow your wealth.
There are so many financial products available, it is difficult to know which are best for you without expert financial advice. If you try and work a plan out yourself, you could buy an unsuitable financial product that could grow your money at a less than ideal rate. Any income from investments could be less than you need, whereas the cost of financial advice can be more than paid for through maximising your wealth growth.
Your wealth plan
A financial advisor will create a wealth plan, which will include savings and investments to grow your money. To protect your wealth, insurance should be part of the plan.
Long-term financial planning will include saving for a pension income on retirement. If you own property and other valuable assets, estate management will ensure that passing on your wealth to your dependents after you die is made as smooth as possible.
If you are a high-rate tax payer, a wealth management plan will look at the various ways you can save tax so that you do not end up paying more than you should.
Discover more
Most people will benefit from professional financial advice. To discover more, book a free talk with an advisor at Endeavour Financial Planning, your local Wirral financial planning experts.
INVESTMENTS – THE VALUE OF UNITS CAN FALL AS WELL AS RISE, AND YOU MAY NOT GET BACK ALL YOUR ORIGINAL INVESTMENT
ESTATE AND TAX PLANNING ADVICE ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY
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