It’s been an immensely challenging year for most people on so many levels, so taking steps to prioritise your wellbeing should be your prime consideration as we head into the long, dark winter months.
More time spent at home has knocked many people’s confidence; interestingly new research has identified that people who receive financial advice feel more confident and financially resilient when compared to those who haven’t taken advice3 . Furthermore, the benefits felt are not just financial.
A haven of calm
In addition to the expected financial benefits, professional advice was found to improve emotional wellbeing by helping people to feel better about themselves and their finances. The research found that there were emotional and psychological benefits from having access to trusted expertise, which makes people feel more confident about the future, in control of their financial plans and more likely to achieve greater peace of mind as a result.
The importance of protection
In particular, protection products were found to benefit consumers way beyond the financial safety net they can provide, with advised customers who have protection cover feeling more prepared for life’s shocks. One in five (20%) people who received advice, including advice on their protection needs, were found to feel less worried about what will happen to their family after they die, compared to one in seven (15%) who were advised generally, without their protection needs addressed.
Supporting your wellbeing – a role we take seriously
We understand that by providing trusted financial advice to help protect your financial security, we can play a role in supporting your wellbeing as well. Please get in touch.
3 Royal London, 2020
It is important to take professional advice before making any decision relating to your personal finances. Information within this page is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK.
Tax and Estate planning are not regulated by the Financial Conduct Authority
The value of pensions and investments can fall as well as rise. You may get back less than you invested.
Will writing is not regulated by the Financial Conduct Authority.
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