Investments, at any stage of our life, should be done only after taking the right advice from a professional financial advisor. Always look for independent financial advisors or the best financial advisors company in your area that provides such advisors.
You put the next question. Why not just any insurance company or a Bancassurance? Your individual needs are not their lookout.
Businesses also take their help as part of protection planning in the event of a partner dying and leaving them as beneficiaries of a will. They would then require the help of an independent financial advisor who would make sure that they don’t lose a good part of the assets.
Wealth management is easy if you have the advice of an independent financial advisor. But you have to look for the best financial services company that provides IFAs. It’s good to take the help of an IFA but if the advisor is very far from your place or is a very busy consultant, the whole point of individual attention is defeated. So, your advisor should be the consultant who is approachable and understands your requirement.
Who is an Independent Financial Advisor?
An Independent Financial Advisor in the UK refers to that professional advisor who is not allied to any insurance company or bancassurer. IFAs are regulated by UK’s Financial Conduct Authority. They offer advice to their clients and recommend suitable financial products. Both businesses and individuals consult them on loans and mortgages, retirement planning, equity release schemes, protection, insurance and such matters.Why do I need an Independent Financial Advisor?
The answer is simple. You cannot imagine yourself sifting through the various tax regulations and hunting the Net for a suitable plan for your long term investment. And even if you did that your search will not end at the correct plan. So search for an independent financial advisor. He will help you in choosing post-retirement plans and mortgage plans.You put the next question. Why not just any insurance company or a Bancassurance? Your individual needs are not their lookout.
How do I get an Independent Financial Advisor?
Your workplace has some retirement planning schemes and the company has its own IFA. You can ask for them. Your friends and relatives are not good at advising you financially but they can help you out in finding the best IFA in your area.Pension and Retirement planning
The pension and retirement planning schemes are allied with tax rates. So, an IFA would give you an idea about the tax breaks and suggest the tailor-made plan for you.Inheritance Tax Planning
Currently, at a rate of 40% on estates above 300, 000 pounds, inheritance tax is a very big reason why you should hire an independent financial advisor. They will make sure you retain most of the inheritance legally possible. This they could do by offering Lifetime gifts to individuals or to trusts and even investing in business assets.Businesses also take their help as part of protection planning in the event of a partner dying and leaving them as beneficiaries of a will. They would then require the help of an independent financial advisor who would make sure that they don’t lose a good part of the assets.
Wealth management is easy if you have the advice of an independent financial advisor. But you have to look for the best financial services company that provides IFAs. It’s good to take the help of an IFA but if the advisor is very far from your place or is a very busy consultant, the whole point of individual attention is defeated. So, your advisor should be the consultant who is approachable and understands your requirement.
