Whether you’re looking for fund growth, tax savings, help with family finances or a career switch, there can be clear benefits in turning to experts, Rosemary Bigmore writes

Paying someone to help with your money can feel counter-intuitive but expert advice can add real value to your financial future, particularly when your circumstances change. Here are some of the reasons why financial advice can be worth it.

1 Your money could grow faster It’s all too easy to make mistakes with your money, especially when you’re investing it. That’s because people have psychological reactions to the stock market rising and falling that can cause them to act illogically. People also find it hard to invest in line with their own risk appetite, and don’t always realise the amount of risk they are taking with their money. Financial advisers can take the emotion out of investment, so that people don’t fall prey to our own biases.

2 You could save tax Tax is complicated and no one wants to pay too much. Structuring investments to ensure you don’t pay unnecessary tax on investment gains and making the most of tax breaks to encourage your pension saving can be seriously good for your wealth. As well as helping with this, a financial adviser can help ensure your family don’t lose the bulk of your legacy to inheritance tax when you’re gone.

3 You could put your family on a more stable footing When your life changes, your financial plans should too. So whether you’ve just got married, had a child or experienced another life change, a financial adviser can help ensure that your financial plans evolve along with new goals. Whether it is planning ahead to fund private education or university, or ensuring the correct protection products are in place to provide an income if you are unable to work, a financial adviser can help to put your family on a stable financial footing.

4 An adviser can help you plan a career change Staying in one area of employment for life is less and less common, with many of us relocating overseas, working part-time or becoming self-employed. All these changes have financial implications, and a financial adviser can help with changing pension plans, remortgaging homes and dealing with shifts in income. In summary, financial advice may involve an initial outlay – but as you can see from just these four points, employing an expert to ensure you use your money wisely can pay dividends over the long term.

Investments may fall as well as rise in value and you may not get back what you put in.

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.

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