Some people never get financial advice and struggle through making all of their financial decisions themselves. Others won’t make a financial decision at all, without first of all seeking the counsel of their trusted financial adviser. And some other people only seek out advice in relation to their finances when a “big” event happens; they get married, they change jobs and their pension situation changes or they receive an inheritance.

So really is there a need for financial advice at all and if so, what benefits do you get from it?

A personalised planned approach
One of the problems with going it alone and without getting financial advice is that you will potentially be swayed by messages that are delivered out to the mass market. The adverts that you see, the articles that you read in the newspaper or online, the “special offers” that are put out by institutions. All of these may be well meaning and indeed may be valuable. But are they right for you? Getting financial advice removes the focus away from products and on to you. A Financial Broker will gain a complete understanding of your particular situation and needs, before even considering the products that might be right for you.

Confidence in your financial future
Getting financial advice from a Financial Broker allows you to look at your financial future with a much greater level of confidence. You know that you have an expert in your corner looking out for you, ensuring that you maximise the value and impact of your financial resources. You also have an expert that you can “bounce” ideas off in relation to your finances, knowing that they have the experience and capability to look coldly at your situation and advise you accordingly. 

You’ll enjoy a greater level of financial security
Let’s assume you get married and you decide that you want to provide financial security for your spouse in the event of your death? How much do you get – €50,000, €100,000 or €200,000? Getting financial advice will help you answer these sorts of questions. A Financial Broker will look at the financial impact of your death, what security you already have in place and will plan accordingly. And the answer may very well be far in excess of the amounts shown above…

Maximise your financial resources
Getting ongoing financial advice results in increased wealth. In 2013, PIBA & Standard Life carried out a survey “The Value of Advice in Ireland” among non-advised consumers and consumers who receive advice at least once per year. The value of the pension funds of the advised consumers was 75% higher and indeed they also held more than twice as much in savings and investments. Using the services of a professional adviser results in better outcomes. And at the end of the day, that is what we all want – better financial outcomes.

So ask yourself – can you actually afford not to get professional financial advice?