Have you thought about getting financial advice, but you’re unsure if you can afford it? We look at how you can pay for financial planning advice without dipping into your daily cash or breaking your budget. Once you understand the importance and value of this type of advice, you will see why it’s an essential part of managing your lifestyle both now and in the future.
Good financial advice pays for itself
Put simply; financial advice is an investment into your financial wellbeing. No matter if you’re fairly secure financially or you are being impacted by the rising cost of living, there is great value in having clarity. Nobody knows what the future has in store. Financial advice will help you protect your hard-earned money and make it work harder. So whether you choose to invest or save, you can rest assured that you are managing your money as wisely as possible.
Helps you make important decisions
Financial planning advice is always tailored to your aims and aspirations. Whether you want a luxury holiday, a sports car, or early retirement, this form of advice helps you achieve your goals. Of course, if you have the time, you can waste hours on the internet researching information. But there’s no replacement for human advice and financial expertise. When it comes to tax, pensions, protection, and savings, it’s easy to get the wrong advice online.
Support with difficult life events
Financial planning advice can be an important form of support if you are facing a challenging life event. It can be hard to think clearly when dealing with difficult emotions, such as a divorce or the loss of a loved one. Your trusted financial planner can help you and your family navigate through complex areas, including estate planning, trusts, and inheritance tax. In addition, financial planning gives you more confidence in your financial decisions.
Helps you deal with big life events
If you have come into a large amount of money, either through an inheritance or a lottery win, professional financial planning advice is essential. You will learn how to minimise any tax you or your family might have to pay on your estate in the future. You will also find out how to secure your wealth in different ways so it has the potential to grow. Financial planning advice ensures you make the right choices at the right time for your situation.
Advice for different purposes
Whatever your situation, financial planning advice can save you money in the long run, and you can grow your money at the same time.
Here are several ways you can benefit from the right advice:
- Tax and savings – As legislation changes regularly, tax relief and allowances can vary yearly. Financial planning advice will help you structure your savings to be more tax efficient. In addition, knowing how to save tax will help you protect and grow your savings pot.
- Investments – Many people like to manage their own investments, but this can become time-consuming and less profitable when it comes to returns. Financial planners can react quickly to market trends and will diversify your investment portfolio for greater returns.
- Retirement – Without a financial plan in place, you could end up worrying about your retirement when you should be looking forward to this time of your life. With professional advice, you can ensure your pensions and savings will support you throughout your retirement.
- Care fees – Paying out for care in later life can be costly, and in some cases, it can use up people’s savings. So, it’s important to be prepared in advance with a financial planning approach to reduce the impact of care fees on your wealth.
Paying for financial planning advice
At Balance: Wealth Planning, we don’t believe in charging our clients a percentage of their wealth. Instead, we think it’s fairer to tailor our services to our client’s needs. So, we offer fixed, all-inclusive fees, which cover every aspect of financial planning. We aim to improve your financial situation, so our advice simply pays for itself. Find out more about how we charge by reading our recent blog, Fixed fees for financial planning.
Need financial planning advice? Get in touch to speak to our financial planning team. We offer all-inclusive fixed fees charged according to your needs.