Do you need a financial advisor for your pension?
With lots of new changes to pension accessibility in England over the last few years, it can be a lot more confusing with different choices and the increased risks which come along with those. Due to these changes a lot of people are considering using a financial advisor to help with their pension.
If you have a state pension or guaranteed pension it is not necessary for you to use a financial advisor, however if you have an investment performance-based insurance it could be beneficial for you to use one. This is not to suggest that it is necessary to have one, but that you may be better off in the long run with their help.
If you’re looking for more information about Final Salary Pension Transfer from the people who know…
Why choose Juniper Pensions?
- Decades of experience providing impartial, professional and measured pension advice.
- Highly qualified team with deep specialist knowledge on final salary (defined benefit) pensions.
- We take the time to get to know each and every one of our customers on a personal level, helping them enjoy a better later life.
- We provide free initial consultations.
- Our pension specialists can assess our customers’ situations in great detail, helping them understand their pensions and manage them effectively.
- We get to know our customers, their lifestyles and aspirations before providing personalised advice.
- We can also advise on retirement planning and inheritance tax planning.
- Our goal is to help our customers create a sound financial future for themselves and their families.
Financial advisor pension advice
Financial advisors for pensions can offer advice with managing risk, focussing on goals, diversifying your investments, create back-up plans, as well as many other things.
The main goal of financial planning is to keep on track to achieve goals and preparing for and adapting to changes as they arise. Advisors are equipped to plan for these changes whether they internal or external to your personal finance.
If you feel you need more information about your potential Final Salary Pension Plan…
Do you need an advisor?
Your own situation will dictate as to whether you require the assistance of an advisor, taking into consideration your current finances, pension scheme and future financial goals. You may only require help to set up your pension plan or you may need advice over a number of years.
For a number of people, their retirement may need to last for 30 years which is a long time to financially prepare for so that you do not run out. An issue is that you never know quite how long you will need the money to last and cannot predict what financial changes you will face during that time. You might want to utilise a financial advisor when you are planning to retire, are considering investing a large amount of money, need help reducing financial risks, amongst other decisions.
Is your situation different?
Some people seek advice from family, friends and other perhaps unexperienced individuals, which may base their advice on personal experiences or poor advice. These people may be in or were in different financial situations to you which mean the advice will not correlate.
It is important to remember that there are varying levels of risk across each investment. As much as people want to focus on achieving maximum returns however in that there is most often a higher risk, so it is important to balance these two aspects. Financial advisors will help you to assess how much risk you are willing to take to inform the investment advise they give you. You should also note that risk continues to change, so an investment which was low risk one year could become high risk in the next.
If you feel you need more information about your potential Final Salary Pension Plan…
How to reduce risk
A way to reduce risk is to spread it by diversifying your investments across different companies and industries which may be affected by different changes. Advisors will help to look across various areas where investing in new emerging investments may be riskier but pose a high return possibility, as well as areas which are more dependable but have lower returns. As well as property investments such as holiday let mortages from brokers.
Another situation where a financial advisor may not be necessary is if your pension scheme allows for drawdown, for which you simply need to contact your pension company. However you still may feel as though you need some one off advice to figure out how much to take. It is more common to use an advisor if you are using flexible drawdown for retirement, which may not have been available in an old scheme so it could be transferred to a provider which allows this.The price of financial advice for pensions can vary greatly, depending on who you use for advice, and how many times you use them. Some additional services have additional costs such as transferring your pension etc.
If you would like to arrange your free initial consultation with Juniper Pensions, please get in touch with our friendly team today on 0800 2545 223 or send us a message and we’ll be in touch as soon as possible. We’re always here to help.
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We're here to help you make the right decision on your pension. Such an important part of your future financial security rests on making a choice that suits you personally. Our advisers are experienced, qualified , helpful and honest. They're here to help you with your pension.