There are many benefits to professional Financial Planning advice, although it appears that lots of people are unaware of how it might help them.
The latest poll for Financial Planning Week 2013 from the Institute of Financial Planning has found that the benefits of professional Financial Planning advice remain a well kept secret.
The poll of over 2,000 people across Britain, conducted by YouGov, found that 22% don’t know what the benefits might be, and 36% could think of no benefits.
17% thought that a major benefit of an adviser or planner would be that they could research the entire market and recommend the most appropriate investment products.
This is an important role played by an independent financial adviser, such as Informed Choice, but not one of the main benefits of Financial Planning.
Perhaps there is no single right or wrong answer to this question.
13% believe that a major benefit of an adviser is that they could simplify things, and this is certainly an important outcome from Financial Planning.
Understanding what you have, what you want and how you can get there is undoubtedly of value to many people, and something you get when you engage with a Financial Planner.
Our favourite answer, selected by just 11% of those asked, was that an adviser would help them come up with a long term plan that best suits their needs.
This resulted in peace of mind that their financial affairs were in order and being regularly monitored, for only 8% of respondents.
The benefits of professional Financial Planning advice will vary for different people, often including some or all of the benefits described in this blog.
What we believe Financial Planning can help people achieve is an agreed road-map, explaining how to most effectively get from Point A to Point B, often with help deciding what Point B looks like.
