7 Reasons why you need Professional Advice

It's absolutely okay to give something a go that you've not done before, but is there a qualification line that you have to pass before you advise someone on how they should do it?

I believe so.

Let's look at the pandemic.

Ever since there has been an increase of 'do it yourself' content on social media platforms such as Tik Tok and YouTube .

Whether it be "how to build your own shed", "how to do your own book-keeping for your business" or maybe something as left field as "how to defend yourself in the legal courtroom" - too much Judge Rinder maybe?

This is naturally going to happen when you have the masses spending most of their time at home and curiously scrolling online.

What I would say though, is that you really need to be careful about the 'advice' you see. Check if they're qualified to give that advice or not from the registered bodies.

You can see what is given as regulated advice here .

Cutting corner methodology may have some short-term success.. who doesn't know someone who made some money from Bitcoin?

What you might not hear though, is the losses that a lot of people suffered too from that investment and how it affects them in the long-term.

If you're serious about protecting yourself and family to overcome this challenge then why not seek professional advice.

Hopefully you're now thinking:

"What situations would put me in a position where I need advice?"

Big ones.

Small ones.

It really depends.

Here's some common examples of situations people might go through in life that need professional advice:

• Buying a home - Mortgage Adviser
• Going through a Divorce - Solicitor
• Reducing or Eliminating tax liabilities - Tax Adviser

Let's get into the reasons.

Your objectives might be wrong

The first thing you should be thinking of is "What am I looking to achieve?"

Then you should look at:

1) Writing down your challenge or believed opportunity

2) Creating a SWOT Analysis

3) Research, Research and Research

4) Ask for referrals from family and friends if you feel comfortable

5) Speak with Professional regulated companies that are local to you

This will ensure you're on the right path to getting the best help that you need.

Leveraged teamwork

Look at Batman , he can't POW! all those baddie's on his own.

You know what it's like doing something for the first time, it is always easier mentally and physically to do it with someone riding shotgun with you. Sharing the responsibility and saving you time so you can focus on the overall objective and your 'teammate' on the finer details.

Tap into already mastered skills

'Experience is the teacher of all things.' – Julius Caesar

To experience, is to have an impression on you. For good or for worse, it is a built up bank of reactions that can help you navigate situations in future.

Around 99% of the problems you will face in life, someone has either had or seen these problems before and are now experienced in that field.

Something that is overlooked is the 10,000 hour theory .. a professional adviser is more likely to be a master of that given subject than the average Joe.

Protection

Example: you've gone out of your way to make an investment with no advice. You've put ￡50,000 down into something and see the returns say it should x10 your initial investment.

Wow.

It takes a turn for the worse. The market dips. You lose all your money. End of.

Alternatively, seeking advice financially from a Regulated (FCA Authority) Financial Advisor, do you believe you were miss-sold a product? You might have a claim to get some or all of that capital back.

Incentives

Your adviser may be able to get you a special rate or deal that would save you more than going down the rabbit hole yourself. Also, they are more likely to have a look at the whole of the markets products and have access to special deals they have with suppliers - compared to your limited research from some books and a Google scroll.

A strategic approach that saves you time and money in the long run

Doing it right the first time.

Instead of running around like a headless chicken with little to no plan, you find the right person that you can build up trust with, that listens to you, creates a strategy and gets you over the line.

History said's that seeking council works

Having a council of advice to help you solve the complexity of your situation at hand is really beneficial. They can provide guidance, clarity, leave you feeling with peace of mind and with it, create little mistakes for you along the way.

How would you combat the Night King, White Walker and a couple of Dragons - because I would certainly binge watch all of the Game of Thrones series again and take some notes!

Thank you for reading through this article.

I hope that it encourages you to seek Professional Advice when faced with adversity; there is so much support out there - so please do seek help if you are struggling.

You can read another article I wrote on 7 Tips for Supporting Small Business .

Follow me on Bradley Cottington | LinkedIn for more content.