Throughout our lives, it is highly likely we will need to make financial decisions that can have a major impact on our wealth, such as taking out the right pension plan, or investing wisely for the future. Over the years, research has produced some interesting findings that highlight the benefit of advice when making major financial decisions. Those who take advice are likely to accumulate more financial and pension wealth, supported by increased saving and investing in equity assets, while those in retirement are likely to benefit from more income.
A new study has found the likelihood of success in this area is heavily linked to receiving professional advice and the establishment of clear financial objectives. The research provides a measure of
the value attributed to advice when it comes to helping investors achieve their goals.
The research, based on data relating to more than 100,000 advised investors, found that 8 out of 10 people with a defined retirement goal had at least an 80% greater probability of achieving their
financial objectives.
The study clearly demonstrates how taking expert advice and constructing a tailored plan can significantly boost an investor’s financial well-being. Not a surprise, as the benefits associated with
financial planning, are renowned and abundant.
The value of financial advice comes in different guises and can include a better return on investment, peace of mind, accomplishing goals, and understanding opportunities. This combines to create future security, ultimately making sure you have enough money.
Discussing your financial objectives with us enables you to consider exactly what you want to achieve and establish clear goals that are both realistic and achievable. Regular financial reviews provide opportunities to monitor progress and adapt plans where necessary. Good financial planning can mean investments are tax-efficient by minimising both current and future tax liabilities.
This study once again reiterates the significant value that can be gained from seeking professional financial advice.
We can help manage the inherent volatility of markets, so your savings have the best chance of growth for the future – without giving you sleepless nights in the process and help make sure you aren’t taking too much, or too little, the risk with your money.
If you would like to discuss your options with an Edward Mellor Financial Advisor please do get in touch. Or you can call us on 0161 443 4830 or email [email protected] – we’re here to help.
Disclaimer: The value of your investments and any income from them can fall as well as rise and you may not get back the original amount invested.
HM Revenue and Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes that cannot be foreseen.
Borrowing options in your later years
