Five surprising ways an adviser can help you

You might not realise it, but a financial adviser can help with so much more than simply investing your money.

A financial adviser can support you with nearly every aspect of your financial life. The less tangible parts of an adviser’s role, such as guiding you through tough times and alleviating your money worries, are equally as important as setting up the right pension.

Here are five surprising things a financial adviser can help you with.

1.    Defining your goals

When you’re saving and investing, having a goal will give you something concrete to work towards. 

Your goal will help to determine how much investment risk you need to take. In other words, it helps you decide where to put your money. For goals that are less than five years away, it’s usually prudent to stick to low-risk investments like cash, whereas you might lean towards equities for longer-term goals like retirement.

It isn’t always easy to decide what your goals are, or to organise them into a priority order. A financial adviser will take the time to learn about you and your family, what makes you tick, and your aspirations for life. By doing so, they can help to draw out your short, medium and long-term goals – and advise whether they’re realistic.

2.    Creating a financial roadmap

A financial adviser can create a ‘financial roadmap’ that shows where you are now, where you want to be in the future, and how to get there.

This process will involve a deep dive into your current financial circumstances, including your income and expenses, debts, and saving habits. Your financial adviser will explain how much money you’re likely to need to achieve your goals, how much to consider saving each month, and where to invest your money for long-term returns. 

This isn’t easy to do on your own. Financial advisers often use a complex process called cashflow modelling to bring your financial roadmap to life. This can give you more clarity and confidence over your future finances. 

3.    Staying calm when markets tumble

When stock markets fall, it’s only natural to feel anxious. But knee-jerk reactions could leave you in a worse place financially. Selling investments that have fallen in value risks crystallising losses. And if the market suddenly recovers, you could miss out on subsequent gains.

A financial adviser will help you invest objectively and rationally. They can act as a sounding board when times are tough and remind you of the importance of concentrating on your long-term goals. By staying calm, they can help you reduce your chances of making a costly mistake.

4.    Tackling your money worries

Money worries are very common and affect people of all backgrounds. Sometimes, worrying about money can lead to sleepless nights, stress, anxiety, and depression. 

Perhaps you’re anxious about stock market volatility, concerned your children won’t be able to afford their first home, or worried you’re not saving enough money for retirement. Whatever the reason, a financial adviser can help to alleviate your concerns. 

An adviser will encourage you to focus on the big picture, offer reassurance that your money is invested correctly and, if needed, look for ways to help you save more. With a solid financial plan in place, you’re more likely to feel in control of your money and confident about your future.

5.    Protecting your family

No financial plan would be complete without protection against unexpected events. Unfortunately, death and serious illness do happen – and they can scupper even the best-laid plans. Your family could be left in serious financial difficulties if the worst were to happen to you.

A financial adviser can help you find the most suitable protection for your needs and ensure you have the right amount of cover in place. If your circumstances change, they’ll check whether your policy is still appropriate. In a nutshell, a financial adviser will ensure the people and things that matter to you are taken care of, no matter what life throws at you. 

Next steps

Taking some really good financial advice early on, while you’re still earning and saving money, could make a big difference to your financial security and wellbeing. A financial adviser can make you feel more confident about your future, so you can concentrate on enjoying life today. Take control of your finances by speaking to one of our financial advisers today.

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The value of investments, and any income from them, can fall and you may get back less than you invested. Information is provided only as an example and is not a recommendation to pursue a particular strategy.