We’re in the business of providing answers to the biggest Financial Planning question for each client.
When clients work with Informed Choice, they usually come through the door with a series of pressing questions.
The ability to answer these Financial Planning questions can result in faster progress towards goals, peace of mind, taking appropriate levels of risk, and saving costs.
But what are the most common questions we hear from our clients?
A new survey of financial advisers found that the top question asked by older clients was whether they could afford to retire early.
Standard Life asked nearly 300 financial advisers to share the most common questions they are asked by their clients, with the early retirement question coming in top place.
In fact, 58% of financial advisers reported this as the biggest question; how much money do I need so I can afford to retire early?
It wasn’t the only popular question asked of financial advisers.
Also on the list of top questions was:
-How can I pay less tax?
-What impact will Brexit have on my finances?
-Should I transfer my defined benefit pension?
-Would it be worthwhile to buy an annuity with my pension pot?
Other common questions included how money could be gifted to children or grandchildren tax efficiently, during lifetime and following death.
Alastair Black, head of the Wrap platform proposition at Standard Life, said:
Clients close to retirement want to make the most of their hard-earned savings, so it’s unsurprising to see questions on early retirement and lump sums asked most frequently.
An interesting dimension we are seeing in the research is the healthy proportion of clients seeking advice on inheritance tax and gifting to children and grandchildren.
Advisers are telling us this is a growing trend as more clients have larger amounts of money to manage. The area of intergenerational wealth transfer is reasonably ‘young’ in the UK market, we predict it will become an increasingly important part of the advice and planning process.
What’s your biggest Financial Planning question?
