Why Do You Need A Financial Planner? And How Do You Choose One?

There is no one answer to the first question. At all stages of life people are making financial decisions. Sometimes without necessarily realising they are doing so. That might be in relation to taking a job, deciding if you need any insurance, making an investment decision, contributing or not to a pension plan, being aware of tax regulations and how it concerns them, planning for retirement, etc. There are many more, too many to list here without you falling asleep pretty soon.

Some people might be ‘financially savvy’. Others might be not even feel comfortable opening a bank statement.

Financial planning – What is it?

Financial planning at its core is about clients having peace of mind. Peace of mind that you are doing the right things with your hard earned money, and that you will be able to achieve what you want both now and in the future.

Like anything in life, with understanding comes an ability to make informed decisions. Giving yourself a much better chance of achieving the desired outcome.

How do you choose a Financial Planner?

So how do you choose which financial planner to use? Recommendations from friends, family or a trusted person is one way. That in itself might not be enough, your circumstances might be very different from those making that recommendation to you.

Many financial planners will offer you a free consultation, you can use this to get an idea if you feel comfortable with the adviser before you make a financial commitment. The consultation will also give you an opportunity to ask them about their experience and qualifications.

At the consultation you should ask your financial planner about their charges, qualifications and experience. They should always be upfront and transparent.

Do not be afraid to look around, it is your money after all.

Independent Advice

The following link is from the independent Money Advice Service and should give you a good idea of what to look out for.

The following podcast is from 2011, the main points in the podcast are as true today at they were in 2011.