The top 5 questions financial advisers get asked

At AFH, our clients come to us wanting answers to some of their biggest questions. 

We recently undertook a survey of our advisers to find out what the most frequently asked questions are when people visit a financial adviser.

Below you’ll find a list of the top 5 questions and how a financial adviser can help answer them.

1. Do I have enough money saved up for retirement?

Everyone’s situation is different, and an adviser will look at all of your assets, your expenditure and your retirement plans to answer this question. They may also use specialist forecasting tools to work out whether you need to add more to your pensions.

2. Can I retire early?

Retiring early is a goal for many, but it isn’t something that should be considered without careful planning. An adviser will look at your assets, your plans and your current financial position to work out whether you could retire soon, go part-time, or start topping up your pension now to work towards an early retirement goal. 

New pension freedoms mean it is more important than ever to get all of this right, as you could end up running out of money in later life if the calculations are incorrect. A financial adviser will come up with individualised advice based on your own situation.

3. How can I ensure I don’t incur unnecessary inheritance tax?

There are various ways to minimise the amount of inheritance tax (IHT) that your family has to pay when you pass on your estate. A financial adviser will cover complex rules around gifting, trust structures and the possibility of passing your pension down intact, as well as how to structure your inheritance in the most tax-efficient way.

4. Can I and should I withdraw a lump sum from my pension? 

The pension freedoms introduced in 2015 mean that it is possible to withdraw a lump sum from your pension. However, various tax rules apply, and if you don’t think properly about the implications, you could end up paying back lots of that tax you saved by paying into your pension. 

Our financial advisers will take you through the rules regarding taking out a lump sum from your pension, as well as how to structure your spending so that any money you withdraw lasts as long as possible and you don’t end up paying more tax than necessary.

5. If I invest my money, will it be safe?

Investment can always go up and down, at least in the short term, so it is unsurprising that this is a question that many people have. Before a client embarks on an investment journey, our advisers get to know them and their situation, including their attitude to risk. Everyone’s attitude to investment risk is different, and if you do decide to invest with AFH, investments will be set up in line with an investment portfolio that best suits your needs. 

Get in touch for personalised advice

Our advisers have years of experience in helping clients with the topics above and many more. Advice is always unique to an individual’s circumstances. For tailored advice, get in touch with us to set up an initial conversation free of charge and with no commitment.