The value of your investments can go down as well as up and you may get back less than was paid in.

An adviser can give you confidence in your future

As you approach retirement, you’ll start to make a plan for the future you want. You can do this yourself, but you can also get help from a financial adviser. 
An adviser will look at your circumstances, and make a plan that suits you. They’ll also sort out the technical stuff, and make sure you don’t pay more tax than you need to.

Do you really need advice?

It’s up to you whether you get advice. It normally costs money, though it can save you money in the long run. 

This page will help you understand the pros and cons.

Can you do it yourself?

There are lots of things to think about when you plan for your financial future, including: 

  • Different funds and how they’re managed
  • Risk ratings 
  • Tax rules
  • Market trends
  • Rates and allowances
  • Inheritance

Understanding everything takes time, knowledge and confidence. And it keeps changing. 

That’s why many people prefer to get expert help. Generally, it means less stress, though of course it does cost money. 

Remember, however you invest the value of your investments could fall as well as rise and you may get back less than you paid in. Laws tax rules may change in the future. Your own circumstances also have an impact on tax treatment.

What an adviser will do?

Getting advice isn’t just a one-off meeting and a fixed plan. It’s an ongoing relationship that helps you make more of your money. 

A good adviser will: 

  • Make sure you use any tax allowances you’re entitled to 
  • Plan your retirement income 
  • Help you invest at a risk level you’re comfortable with 
  • Help you plan for inheritance so you can pass on your money in the best way.

Finding an adviser

Only use regulated advisers

You should only use an adviser who’s authorised and regulated by the Financial Conduct Authority.

This means that: 

  1. Your adviser has the right qualifications 
  2. You’re covered by the Financial Ombudsman Service and the Financial Services Compensation Scheme if something goes wrong.

What to look for 

A good adviser will:

  • Take the time to understand your circumstances 
  • Give you as long as you need to make decisions
  • Be clear and upfront about their charges 
  • Support you for the long term

Don’t be afraid to ask questions – for example, about the size and strength of an advice firm. Choosing an adviser is a big decision, and you should feel confident in whoever you’re working with.