5 Reasons Not To Use An Independent Financial Adviser

02 Jan

5 Reasons Not To Use An Independent Financial Adviser

1. You’ve made you own retirement plans

Great if you have!  So you should know exactly when you’ll retire, how much income you’ll need and where that income will come from.

2. You’re invested in property

Well, property prices are guaranteed to rise over the long term aren’t they?  Actually, no they’re not and putting all of your eggs in one basket is a high risk strategy.  Managing retail properties is hard work and releasing capital by selling houses can take a long time.

3. You can select your own investments

Yes you can and there’s lots of information on the internet to help you do this.  However, investing in individual companies is very high risk which can only be mitigated through detailed research.  Do you have the time and knowledge to do this? 

You could put money in collective investments, but you’ll need sophisticated tools to analyse the level of risk you are taking and to compare historical performance.  You’ll also need to spend time comparing investment charges and ensuring the provider is legitimate and financially sound.

4. You’re invested in your business

Is your business viable as a going concern without you at the helm?  What if your business hits hard times?  Your retirement  plans as well as your source of income will be at risk.    You could reduce these risks by taking advantage of the generous levels of tax relief associated with employer pension contributions.

When selling your business, how are you going to invest the proceeds and have you considered inheritance tax liability?

5. Your investments have made money

Great news if you’ve made money, but could you have made more and been charged less?


Please feel free to comment or message me for a no-obligation chat to see if I can help improve your financial outlook.

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