Answered by Andrew Jenkinson
Although you will have to pay for financial advice, the benefits of obtaining advice usually outweigh the cost, and should save you money in the long-run.
For example, if you are considering buying an annuity, an adviser should be able to track down the best available rates, so that you will end up with a much higher income than you might otherwise have had if you’d simply accepted the annuity offered by your pension provider.
Advice is particularly important if you need to make financial decisions, but don’t fully understand how certain financial products work.
An adviser can also help let you know how much you need to save for the future to meet your financial objectives.
Can a Financial Adviser increase my savings…?
According to research from financial advice trade body unbiased.co.uk and AXA Life Invest, nearly half of those approaching retirement increase their savings levels by £98 a month as a result of taking financial advice, saving £187 post-advice compared to £89 pre-advice.
If you would like to speak with one of our financial advisers please get in touch and we can explain more about our services or for further reading take a look at our ‘Do I need Financial Advice?’ guide here →
Frequently Asked Pensions Advice Questions
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