Is financial advice right for me?
Our aim as financial advisors is simple – to give our clients greater peace of mind. Yet in our line of work, we hear many a misconception surrounding financial advice.
One of the most common myths is that financial advisors are needed by only the wealthiest among us. Others believe they are too young, or too old to seek financial advice. Some even feel embarrassed by their spending habits.
The truth is that many different people can see their financial wellbeing improve after talking with an advisor. Here are a few examples of our clients and how they could benefit from our services at gpfm – perhaps you see yourself in one of them, perhaps not. Whatever the answer, we’d be more than happy to chat.
Jeff Dawes – The early retiree
With his 55th birthday fast approaching, Jeff has worked for almost 40 years and is considering early retirement. The pandemic has put Jeff’s work-life balance into perspective – he sees how important it is to grab life by the horns. However, he still wants to retire with enough to live comfortably and do the things he has long dreamed of.
A financial advisor can help Jeff assess his existing pension strategy, his taxes, and his assets. Regular conversations will also help Jeff to navigate every step of this exciting journey, making sure he has the retirement he wants. What’s more, they’ll act as a sounding board for any concerns, giving unbiased and honest answers.
Linda Hayton – The hesitant investor
Linda has often considered investing but has lacked the confidence to take the steps herself. However, after coming into a sum of inheritance money, she is conscious that the sum will gradually erode in a savings account.
A financial advisor can guide Linda through her investment options, laying out an investment strategy that acknowledges the amount of risk she is comfortable with. A well-considered, long-term investment plan will make Linda’s money work harder for her. What’s more, in the long term, regular meetings with a financial advisor will help build Linda’s financial literacy, so she feels confident making financial decisions both now, and in the future.
Maya and Krishan Joshi – The family planners
The Joshis have recently had a new addition to the family and are already expecting another. Their biggest priority is saving for their children’s education – they want to ensure their family has the best possible start to life. Although both Maya and Krishan work full time, Krishan is considering reducing his hours to take care of the children after school. However, they don’t want this decision to impact the little things like holidays, school trips and family days out.
A financial planner will help the Joshis manage their assets, pensions, investments and cash so they can achieve their family goals. They could also build a budgeting strategy around the Joshi’s needs and lifestyle, ensuring they can live comfortably, and crucially, have peace of mind in their finances.
Ron Harper – The conscientious grandfather
Ron had never before considered financial advice, but after being diagnosed with a life-limiting illness, he decided it was time to prepare his estate for his heirs. With two children and five grandchildren, Ron wants to ensure their peace of mind in the period before and after his passing.
A financial planner can work with Ron to finalise his will and organise a lasting power of attorney in the event that he can no longer make his own decisions. Financial planners can also decipher care fees, should Ron need to find a nursing home. Above all, they will help Ron and his family navigate sensitive and complex decisions at a painful and often confusing time.
At gpfm, we work to empower our clients in their financial decisions, building confidence, security and financial wellbeing. That’s something we believe anyone and everyone can benefit from. If you would like to speak to a member of our team here at gpfm, please don’t hesitate to get in touch over email at firstname.lastname@example.org or call 01992500261.
The characters in this article are fictional and any likeness to real people is purely coincidental. This article is for information only and must not be considered as financial advice. We always recommend that you seek independent financial advice before making any financial decisions. Investments can go down as well as up and you may get back less than you invested.
gpfm are an independent financial planning company dedicated to the provision of personal, professional, and objective-driven advice for our clients. We have been awarded the Chartered Financial Planners title by the Chartered Insurance Institute for offering high quality, independent and informed advice that meets the needs of our clients.