A monthly feature that focuses on current financial issues. Many local Banks and Building Societies have lost their ‘in house’ adviser and few are independent. Eamonn is a fully qualified local Independent Financial Adviser.
How Independent Financial Advice can help In an independent survey* the following key findings came to light.
Comparing two groups of consumers with similar income: • The group that received financial advice had a much higher proportion of people with life insurance, pension provisions and investment products than the non-advised group. • The current average pension pot for consumers who have been advised on their retirement planning is £74,554.30, double that of those not seeking advice. • On investments, people with an adviser save for longer and contribute more, leaving them an average investment value over £40,000 higher than for those who haven’t sought advice. What conclusions might we draw from this? By
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seeking the views of a professional adviser – the quality of decision making can be greatly improved. For example – the provision of adequate retirement plans in itself is a sensible decision – rather than having to retire on a very reduced level of income – with good advice – the actual cost of investment is reduced because a properly set up retirement plan can reduce exposure to taxation and maximise the benefit of investment markets. If you would like to see how independent financial advice could benefit you – please contact me to arrange a free initial meeting. * unbiased.co.uk 16th July 2012
DiscoveringBourne September 2012 | www.discoveringbourne.co.uk