So many people feel a Financial Advisor is just for the Big Time Investor with large capital and just because they don’t have thousands in the bank opt to shy away from engaging with a financial advisor.
The truth is anybody can use the services of a Financial Advisor for many different reasons:
With so many financial products available it can be difficult to compare all the options and make the right decision for you. If you are confused by what is on offer, it’s best to get independent financial advice.
You may also be making some extremely big long term financial decisions in your life especially in situations like:
- Planning for your retirement and looking at pension options
- Dealing with the financial effects of big changes in your life, such as separation or divorce
- Buying someone out of a joint mortgage or selling your portion of a house to the person you bought it with
- Investing for the first time
- Getting a mortgage
- If you’re getting married, your tax situation changes, as does your insurance needs. Similar changes occur around other major life events like the arrival of a new baby, or a death in the family.
- Protecting you and your family against loss of income if you become ill or die
A qualified and experienced financial advisor can:
- Help you understand your own needs, plan ahead and become more financially secure
- Save you money and time by shopping around on your behalf
- Help you understand the risks involved in certain financial products
- Recommend the most suitable products for your needs
Without knowing how to choose a financial advisor, many of us ask friends or family for a recommendation, or go to the bank or building society we have always dealt with.
You can get financial advice from:
- Tied agents who advise and sell products from a financial services firm they are tied to. They still have to give you a product that is suitable for your needs, but they cannot shop around on your behalf.
- Multi-agency Brokers, such as investment brokers, advise on and sell products from a number of financial services firms.
- Authorised advisors are obliged to consider relevant products from all financial services in the market. They will research products that match your needs from the range of companies they deal with, providing a fair analysis of the relevant market.
- A mortgage broker acts as an intermediary between you and mortgage lenders when you are applying for a mortgage. They usually work with a number of mortgage providers.
For further information please contact Regina O’ Gorman, Senior Financial Planner for Kevin Condon Financial Brokers on 021-4220019 or 087-6368887, email regina@kcfb.ie
