When to Hire and Independent Financial Adviser


There are times in life when our personal finances may be too much to deal with, and this is perfectly acceptable if we are busy with work, family life, and other engagements. Some financial arrangements can be confusing, and at this time hiring a decent financial adviser is a smart move. Sometimes you have to spend money to make money, and making the investment to hire a financial adviser is certainly a great move. The trick is to know when to hire a financial adviser and also where to look.

When to Hire an Adviser

  1. You’re going to retire soon, or are already retired

When you retire, this will mean a massive change in your financial situation. You’ll no longer be working or receiving a monthly salary. Instead you’ll be relying on your investments, pensions and social security payments. Furthermore, you’ll need to know how you can go about making your money last as long as possible, living the lifestyle you prefer. For most modern retirees, income will likely come from a variety of sources, so hiring a financial adviser to manage your accounts is a sensible option.

  1. You’re about to start a family

So you’ve been working in a steady job for a while now, and have built up investments and savings, with known outgoings such as mortgage or rent, and all bills. However, having children can change your financial situation very quickly. We all know that having kids is an expensive commitment, albeit rewarding, and will involve a realignment of financial arrangements between you and your partner. A financial adviser will be able to assist you to plan the best possible arrangements for your children’s future.

  1. You’re going to become self-employed

Whilst entrepreneurship is valued in the UK, it involves a completely different set of financial reporting for to the government for taxation, plus you’ll have very different spending and saving requirements. A financial adviser will help you to make sure you’re getting the most out of your business, and find ways to allow you to keep more of your money that you have personally earned.

Where to Look

Finding a financial adviser is a very easy thing to do, but make sure you hire the correct expert that meets your needs. This will mean searching for a few advisers and then making a short list. So, if you’re seeking an independent financial adviser in London, you’ll see that the options are endless. In this case look at companies based close to where you live first, and then seek out other attributes such as whether they have a strong base of self-employed clientele. If you are looking at rearranging your personal finances due to having a baby then look to see if your financial planner covers this well. Or if you want to retire then make sure your financial adviser has had lots of experience in dealing with new retirees.

There are many reasons to hire a financial adviser, or at other times you may wish to go it alone. But generally speaking, these are the top three reasons people choose to invest in a financial adviser. Retirement, starting a family, or going self-employed are the three top reasons opt for a financial adviser. When choosing your adviser, make sure they are an expert in your needs.