There have been sweeping changes to people’s lives all across the globe as a result of the Covid pandemic. The effort to contain the virus is far from over. Companies have been challenged and jobs continue to be lost. The world has entered an era of rapid change as there is no realistic end in sight to the global health pandemic.
Along with the strain felt in the business world has also come uncertainty for individuals. So many of the economic impacts caused by Covid are out of the hands of the general public, and individuals may be anxious about job losses, either now or in the near future. If you’re close to retirement you may be worried about the performance of your pension, or you may be concerned that the investments you hold in established companies may now not be as secure as you had perceived them to be in the past.
An easy option would be to bury your head in the sand in these difficult months, believing that the economic situation is out of your hands and that your personal finances will suffer inevitably from forces which you just can’t control. However, there has never been a more important time to engage with financial planning, to review your current arrangements and to seek out good financial advice. This is especially important if you are considering making changes to any of your existing policies or arrangements.
A Financial Adviser Can Help Navigate the Change
There is a misconception that financial advice is about being sold a product, like a life insurance policy or an investment plan. But in reality, working with a financial adviser is more about helping you make the cash side of your life work hard, so you can enjoy living now whilst also planning for your future. These plans are typically reviewed annually, but they can also be updated in times of unexpected change, whether that change is caused by something global like the Covid pandemic, or by individual life changes such as a divorce. Your adviser works with you through the ebbs and flows of life, helping you to make informed decisions at the right time so that you don’t make financial mistakes.
Right now, many people are understandably worried about the future, both for the short and longer term. They are concerned that investment choices they made in the past are now extremely volatile and are asking should they de-risk their portfolio. They are questioning if there are gaps in insurance protection or if long term plans, such as a retirement date, are still realistic. They want to ensure the money they leave to their children is protected from inheritance tax and want to talk about Trusts.
Speaking to a financial adviser and reviewing your goals, plans and existing arrangements can provide this clarity. Whilst Covid will continue to lead to economic uncertainty, a good financial adviser will be able to help you to answer the questions you have, and be able to guide you to make informed choices to help you achieve financial security. In some cases, they may also be able to help you save money, particularly if you are at the stage in life where you have a mortgage that’s not been reviewed for some years.
Working with Clients Across the UK
At Fuladvice we have a team of financial advisers who work with customers across the UK to build structure and planning to their finances. We operate on an online basis, which offers our clients greater flexibility to schedule appointments and also lets us work with those who live in remote UK locations. We are authorised and regulated by the Financial Conduct Authority, and our online meetings offer the same level of privacy and protection as those held in person.
If you would like to speak to a Fuladvice financial adviser then please get in touch.
We don’t charge for the advice we give, charging only for work we do for our customers, so you can make an initial enquiry with confidence. If you choose to act on the recommendations made, you can then chose to pay for this work by a pre agreed fee or for us receive a commission if appropriate. Please ask to see our fee agreement at any time.
To find out more call 08000 478 535 or complete the form below.