When times are good, and confidence is high, most financial advisers should be able to help generate at least reasonable returns. However, in times such as those we have experienced over the last few years, having the support of a ‘trusted adviser’ you can rely upon to help, guide, support and advise you is more important than ever.
There are a range of reasons why someone makes the decision to seek financial advice. It can often be key life events such as inheriting wealth, having children, changing job, or preparing for, or moving into, retirement – but for many, it’s to build or protect wealth and plan for the future.
The Money Helper website, which helps to bring together the support and services of three government-backed financial guidance providers: Money Advice Service, The Pensions Advisory Service and Pension Wise, states:
“There are many reasons why financial advice can be helpful. For example:
Whatever the reasons for seeking financial advice, we never lose sight of what a big step it can be for people to reach out and look for a long-term trusted partner to help them achieve their goals and aspirations. Personalised financial advice is most effective when a strong and long-term relationship is built. However, do you choose an independent adviser or a restricted one?
According to the Citizens Advice website:
“There are two types of financial advisers:
Now is not the time to try and go it alone – even if you think you have the right knowledge and experience. Regrettably, we have seen many people where self-select investing, which whilst on the face of it may initially save costs, has been an expensive experiment.
When volatile times happen, as we have recently seen, it may seem daunting. A good financial adviser will help you understand the principles of investing and the techniques available for managing risk effectively, through diversification of assets. No financial adviser, however, can claim to be able to predict the peaks and troughs of financial markets, and it’s extraordinarily difficult to time exactly when the best days to invest will be. However, ‘time in' the markets, not ‘timing” the markets, is generally the most effective approach over the medium to long term. You can read Our Guide to Investing here.
One of the ways to help you understand the value in getting advice is to read reviews from client themselves. At Armstrong Watson our financial planning consultants regularly invite their clients to leave reviews on the advice and service they have received. They do this through an independent review site called VouchedFor. Here all reviews are checked for their authenticity, and you can also read all the reviews about that adviser, as well as the firm. An adviser is rated in a number of areas, and clients are asked questions based on quality of advice, quality of service and value for money. The overall score is out of 5.
We are very pleased to say that our client reviews give our firm a current score of 4.9 out of 5 from 674reviews. We are constantly seeking feedback from our clients to improve their overall experience of our advice and service.
You can view our financial planning consultants individual scores and feedback here.
Creating a financial plan can also involve specialist tax planning, so on many occasions there will be a need to involve a tax professional. You could be selling a business, land or disposing of an investment for example. We work alongside our tax experts and accountants at Armstrong Watson to provide careful financial and tax planning to secure the long-term financial future for you and your family. One such area, where this often needs to be considered, is in relation to Inheritance Tax and Estate Planning. Download our brochure here.
At Armstrong Watson our quest is to help our clients achieve prosperity, a secure future and peace of mind. We provide bespoke tax planning, financial planning and wealth management all under one roof. Advice on Inheritance Tax related matters could be provided by a mixture of both our financial planning and tax specialists.
Please note financial planning advice is provided by Armstrong Watson Financial Planning Limited, who are regulated by the Financial Conduct Authority. Tax advice is regulated by the Institute of Chartered Accountants in England and Wales.