The Most Common Questions That Financial Advisers Are Asked

According to a Financial Times survey, one of the most frequently asked questions for financial advisers is, ‘Am I doing the right thing?’ After all, when it comes to money we all want to know we’re making the right choices.

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The survey also revealed the most commonly asked questions that clients want the answers to. So whether you’re talking to an independent financial advisor Marlborough residents endorse, or you’re thinking that now might be the right time to seek financial advice, here are the questions most people want to ask.

Can I Retire?

This is the question that most clients are anxious to know about. Pensions are complex and tax rules even more so, which is one of the reasons most people seek financial advice. As the state pension age rises, people are seeking different routes into retirement and want to know that they’ll have enough money to be comfortable in old age.

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Can I Reduce Inheritance Tax?

This is another of the most frequently asked questions, and though only 5% of estates actually pay tax it is a huge concern for many seeking financial advice. However, if you live in the South East and own your own property, you may have been drawn into the Inheritance Tax net.

You could marry your long-term partner or implement the residential nil-rate band allowance – the latter strategy is complex and will require independent financial advice. If you’re asking yourself what is an independent financial advisor, then now would be a good time to find out.

Can I Pay Less Tax?

If you want to legitimately keep more of your income, you’ll need the services of a specialist financial adviser who can help you to maximise your tax allowances and contributions to ISAs and pensions. Becoming more tax-efficient will leave you with a greater tranche of your personal income intact without falling foul of HMRC.

What Impact Will Brexit Have?

As Brexit nears its endgame, if you don’t already have a financial adviser, now would be a very good time to get one. The question is uppermost in many investors’ minds, and the advice broadly seems to be ‘plan for the worst, but hope for the best’. However, if you allow your adviser to create a solid financial plan and stick to it, you’ll weather the storm.

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