Do I need a financial adviser?

The value of advice: Do I need a financial adviser?

Money matters. Over the course of our lives there are big things we all need to pay for, and with people living longer than ever, there's the added challenge of making sure we don't run out of money in retirement. But do you actually need a financial adviser to help you navigate life's journey?

In this video, the first in the Value of Advice series, you'll learn why the answer is more nuanced than it first appears. For some people, the simple answer is no, particularly given the growing number of websites designed to help us invest and manage our own money. The problem is that much of the advice we encounter online and in the media is positively bad for us. It can certainly be tempting to manage alone, but everyone can benefit from good financial advice, and sooner or later, all of us will need it.

You'll also learn why, however much you think you know about money and investing, it pays to have an objective expert with your very best interests at heart. And when we say it pays, we mean it literally. Research has shown that, alongside the peace of mind a good adviser provides, they can add roughly 3% a year to your net investment returns. Over the course of an investing lifetime, that compounds into a very substantial sum indeed.

The takeaway: good financial advice isn't just about picking investments. It's about having someone objective in your corner, protecting you from the poor guidance that circulates freely online and adding measurable value to your returns year after year. In this series of videos, we'll show you four main ways the right adviser can make a real difference.

Chapters / Key points

• Why money matters across every stage of life
• Why longer lifespans make retirement planning harder
• Whether you actually need a financial adviser
• Why much of the advice found online and in the media is harmful
• Why everyone benefits from good financial advice eventually
• Why an objective expert with your interests at heart matters
• How a good adviser can add around 3% a year to net returns
• How that value compounds over an investing lifetime
• The four main ways the right adviser makes a difference

Transcript

Do I need a financial adviser?

We all know that money is important, and that over the years there'll be big things we'll need to pay for. We're conscious, too, that people are living longer, and that we have to ensure we don't run out of money in retirement.

But do we need a financial adviser to help us along life's journey?

For some of us, the simple answer is no, especially with the growing number of websites designed to help us invest and manage our money.

The problem is that much of the advice we read online and in the media is positively bad for us.

Yes, it can be tempting to manage on our own. But everyone can benefit from good financial advice and, sooner or later, all of us will need it.

However much you think you know about money and investing, it pays to have an objective expert with your very best interests at heart.

And when we say it pays, we mean it pays. Research has shown that, as well as giving you peace of mind, a good adviser can add about 3% a year to your net investment returns.

Over the course of your investing lifetime, that can add up to a very substantial sum.

In this series of videos, we're going to show you four main ways in which the right adviser can make a real difference.