5 compelling non-financial reasons to work with a financial planner now

23/12/2024

When you first seek financial advice, your goal may be to grow your wealth or make the most of tax-efficient allowances. A financial planner can provide support in these areas, but the benefits could have a much larger effect on your life and wellbeing. 

A survey conducted by Hymans Robertson asked people with more than £300,000 of investable assets about the benefits of professional financial advice. And some of the results may surprise you. 

While the report found many people seek financial advice to grow their wealth – 50% said they wanted expertise about the most appropriate investment vehicle – there are plenty of other benefits too.

Here are just five of the ways working with a financial planner could boost your wellbeing. 

1. Improve your peace of mind

You shouldn’t underestimate the value of feeling confident about your finances and future – it can have a positive effect on your overall wellbeing.

In the survey, 54% of people said one of the reasons they use a financial planner is the peace of mind it delivers. Furthermore, 44% said they liked having regular reviews to ensure they were on track. 

Not worrying about whether you’re saving enough for retirement or if you have enough in your emergency fund can be a weight off your shoulders. This could allow you to better focus on enjoying life.

2. Reduce the time you spend managing finances

While you might feel confident managing your finances, do you want to spend your time researching different investment opportunities or keeping up to date with changing government legislation? 17% of survey respondents simply said they don’t have enough time to manage their finances. 

Your time is precious, and working with a financial planner could mean you can spend time on the things that are most important to you.

A financial planner can add value to your life by giving you more time. 

3. Access the information you need to make decisions

One of the challenges of managing your finances is knowing where to access the information you need to make decisions that are right for you. In fact, 28% of people said a lack of information was a disadvantage to a DIY approach. 

A financial planner can present the information you need to better understand your finances and options. Armed with the right information, you’re more likely to make decisions that suit your needs and long-term goals. 

A financial planner could also point you in the right direction of reliable information if you do want to carry out your own research. 

4. Help you cut through financial jargon

Even when you find trustworthy information, understanding it is a different matter. Financial communications are often filled with jargon and acronyms that are difficult to decipher. 

The survey found 25% of people want financial communications to contain less jargon. A financial planner can help you cut through the jargon, so you clearly understand what communications are saying and how they’re relevant to you. It’s a process that could boost your confidence and mean dealing with your finances is less stressful.  

5. Help avoid short-term thinking

To create an effective financial plan, you need to think long term and reflect this in the decisions you make. But that can be easier said than done at times.

Take investing, for example. When the market is experiencing volatility or the value of your investments falls, it’s common for investors to consider changing their strategy. However, when you look at long-term trends, sticking to your strategy to ride out the ups and downs often makes financial sense.

Having someone you can speak to about your concerns before you act can reduce bias and knee-jerk decisions that might affect your long-term plans. Working with a financial planner could help you assess your options carefully and decide what is right for you.  

Contact us to talk about how financial planning could benefit you

We can work with you to create a tailored financial plan that suits your lifestyle and goals. We aim to give you confidence in the future so you can get the most out of life and focus on what’s important to you. 

Contact us to arrange a meeting to discover how a financial plan could benefit you. 

Please note:

This blog is for general information only and does not constitute advice. The information is aimed at retail clients only.