Four common misconceptions about financial advisers

by Infinity

Do you think a financial adviser is not for you? Well, think again, because everyone can benefit from having a professional on side to help them make the right choices regarding health and life insurance, saving for retirement and estate planning.

What exactly are your reservations about seeking assistance with your finances? Here we look at the four most common misconceptions concerning financial advisers, and the truth behind them:

1. Financial advisers are for the wealthy

This is a widespread myth and one which unfortunately prevents many people from getting their finances in order which can mean that they struggle when they retire. The truth is that you don’t need a seven figure portfolio of assets to benefit from the help of a financial adviser. In fact, these days with the onus for saving for retirement firmly on the individual, we would argue that everyone should seek help in putting together a road map of investment goals and charting a path to reach them. A financial adviser has the knowledge and skills which most of us lack and can be invaluable in getting the best out of your investments and ensuring that your savings are working as hard as they possibly can.

2. I can do my financial planning myself

Of course you can but does that mean that you should? In a rapidly changing financial landscape it is often difficult to keep abreast of new products on the market and other changes which could affect your situation. Why struggle with the process when you can have a qualified professional helping you to clarify and achieve your investment goals?

3. Financial advisers are untrustworthy

It’s true that the financial services industry has suffered from a lack of confidence and that many clients have experienced financial losses as a result of poor advice from unscrupulous individuals. But not all financial planners are the same. Here at Infinity we pride ourselves on our adherence to the highest standards of working practices (including regulations) and our customer-centric approach. Our advisers are trained to a high standard and undergo continuous personal and professional development.

4. Financial advisers are not worth the expense

Like all professionals, financial advisers have to earn a living somehow so obviously they do receive compensation for their advice. The important thing is that you understand exactly how they are paid. Different advisers charge in different ways but we at Infinity are transparent and open regarding our fees, usually a percentage of what is invested. A good financial adviser will, in the long run, earn you more than you pay in fees.

If you’ve been hesitating about consulting a financial adviser, why not make an appointment for a chat with an Infinity consultant? We would be happy to explain our working practices and payment structure in as much detail as you like and talk through any reservations you have. You’ll be under no obligation to work with us so you have nothing to lose, but potentially a lot to gain. Drop Alex a line today to arrange a meeting!

Get in touch with Alex here or at [email protected]

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Tilney (now rebranded as Evelyn Partners) is an award-winning financial planning and investment company that builds on a heritage of more than 185 years. They have won numerous awards and their clients include private individuals, families, charities and professionals. They presently look after more than USD70 billion.

At Evelyn, your personal wealth is their personal responsibility.

Evelyn's award-winning services are now available in Asia exclusively through Infinity, and can be applied to new and (probably) existing investments.

To learn more, drop Alex a line.

Click on the 'play' button above to see one of Evelyn's/Tilney's adverts.

Get in touch with Alex here or at [email protected]