How much money do I need to see a Financial Adviser?

Many of the people that we meet are under the impression that they do not have sufficient funds to justify financial advice. Sometimes they are even embarrassed to seek it, viewing professional advice as exclusive to those with considerable disposable income or cash in the bank.

As it happens, the intervention of a financial adviser can be impactful whatever your level of resources. A good financial adviser can create a personal roadmap to help you plan confidently for a secure financial future, in which you achieve your goals and aspirations. For those with fewer resources available, this may even have a greater psychological impact than for those with more to spare.

Consider your Life Stage

Rather than thinking about how much you have, it might be worth considering how your circumstances – or potential future changes in your circumstances – might prompt the need for advice. In other words, you might consider where you are in the ‘stages of life’.

Those stages will differ for everyone, of course, but here are some possibilities to get you thinking:

• Starting work – the sooner you start planning, the better the chance you’ll have to reach your goals – not least due to compounding which can help make your money grow faster over the long term.
• Getting married or forming a civil partnership – taking a joint approach to your finances can save you money now and help you build the collective future you want.
• Buying a home – this may be the biggest financial commitment of your life, so seeking advice is paramount to navigating this complex process smoothly.
• Having children – another hugely important moment that may require a rethink of your priorities – perhaps finding the balance between increased costs today and saving for tomorrow.  
• Dealing with a serious illness or disability – ensure you have the right protection in place should you be unable to earn an income.
• Ending a marriage or long-term relationship – seek advice to help you untangle your finances and move forward.
• Retiring or scaling-back at work – ensure you have enough money in your pensions and investments to last throughout your later years.
• Facing the death of a loved one – seek expert financial advice at this painful time to help you understand its financial implications.
• Experiencing declining health in later life – paying for long-term care can be expensive, so it makes sense to plan ahead.

Each of the above stages of life represent a different phase with unique financial planning needs; we’ll consider each of them in turn in future articles.

The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.

Create the future you want

The team at Stringer Mann Chartered Financial Planners have worked with a huge range of people and businesses since the Practice was founded in 1993. Drawing on our extensive experience, we can guide you through one or many of these stages and help you understand your financial future.

We offer a no-obligation consultation and, if financial advice is appropriate, we will explain how it could benefit you. If it's not the right fit, we will guide you to those who may be better able to help.

In future articles, we will consider each of these life stages independently with more detailed information and guidance as appropriate.

In the meantime, if you would like to get in touch, please telephone: 01442 874888 or email.