The pandemic has made many of us realise how much we value and even depend on our close network – but does yours include a financial adviser? Adviser Samantha Kaye discusses the benefits of adding an adviser to your circle of support.
Ladies – who’s on your power team? It might include your family members, closest friends, fitness coach, therapist or childminder. These are the trusted people who support you and make your life easier and more fulfilling – something recent events have shown us the value of, more than ever!
You probably have your own well-established team, but does it include a financial adviser?
Sharing the mental load
There are many advantages to having a seasoned professional helping to keep an eye on your financial affairs – not to mention some non-financial benefits. The recent ‘Peace of mind: Understanding the non-financial benefits of financial advice’ report from St. James’s Place and the International Longevity Centre (ILC) found that people who used an adviser felt more confident and better prepared for the future, and reassured that they were on the right track financially.1
Indeed, an adviser can help to remove some of the mental load that comes with things such as planning for retirement, meeting tax deadlines, keeping on top of changing pension rules or optimising your investment performance – as well as calming any nerves that arise from global events, such as Brexit, the US Election and, of course, the pandemic.
They can give you back the luxury of time, as well as peace of mind and security that an expert is keeping a watchful eye on your finances – even when it’s the furthest thing from your mind!
One reason you might not feel comfortable about seeking advice is that you don’t want to hand the power over your money to someone else. But financial advice is not about losing control – it’s about taking it! It’s collaborative – as advisers, we’re there to support you in making your own choices. St. James’s Place and ILC found that women who had taken advice say their improved financial literacy has empowered them to make informed decisions.2
The adviser–client relationship is designed to be a long-term one, and people often find that their adviser comes to feel like a member of the family, sitting around the kitchen table as a trusted source of personalised information who knows their situation well and guides them on key decisions.
Financial advisers come from all walks of life, too – they might be a parent or have elderly relatives to care for, and will understand the challenges you face.
Growing your power team
We women are masters of keeping a lot of plates spinning – so, if you can outsource some of the worry about money matters to a trusted expert, that’s one less thing to think about. A good financial adviser will get to know you as well as your friends do, bringing a level of tailored, specialist support you simply can’t get from anyone else in your network.
If you don’t yet have a financial adviser in your power team, now’s the time to seek one out! Speak with the Wellesley team today and let us connect you with someone who’s the perfect fit.
1,2 St. James’s Place and the International Longevity Centre (ILC), ‘Peace of Mind: Understanding the non-financial value of financial advice’ report, conducted via in-depth interviews with 32 UK individuals in 2020.
The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.