top of page
  • Schofield

At what income level do I need to get a financial adviser?



There is no set income needed to visit a financial adviser. Many people from all walks of life require the assistance of a financial adviser at various stages. Here at Schofield, we always recommend keeping an eye on your finances and your financial goals. When you assess your finances regularly and keep track of your goals you are able to make better decisions more effectively.


Who uses a financial adviser?

Anyone who needs financial advice and assistance can use a financial adviser. There are no age limits on people who use a financial adviser. Each stage of your life requires different plans and advice, so financial advisers tailor their approach to the individual. Someone who is just starting out in their journey will have different goals to those who are looking to retire or build their estate.


When do you need to speak to a financial adviser?

There are many times during a person's life when independent financial advice is needed. There are key times when financial advice is necessary, for example finding a mortgage. As a first-time buyer navigating through the mortgage market can be challenging. A financial adviser can help you understand what products are available and help guide you to the right product.


Another time when speaking to a financial adviser is beneficial is when you are looking to invest. This could be investing in the stock market or other investments. Having advice from an adviser who understands your financial objectives will make sure the investment is right for you.


No matter what stage you are at, speaking to financial advisers can help guide you to making the most of your money.


How should I decide which financial adviser to use?

Finding the right financial adviser can seem like a daunting task. However, there are some things you can do to ensure that you are speaking to the right people. </p>


Are they chartered?

A chartered financial adviser has agreed to work to a specific set of rules. This means that they uphold the strict values of the Chartered association. They have been entrusted with raising the standards of the industry by maintaining high standards of ethics, quality and business practices.


Are they independent?

An independent financial adviser is able to access more of the market than an adviser who works for a specific institution. This means that they are able to find the best products on offer that suit your needs as their client. An independent adviser is always on the lookout for finding the best financial solutions for their clients, instead of shoehorning a product to fit. This means you know that you are getting the best product and advice for your individual financial needs.


Experience and specialty

As with all industries, experience is important. Having an adviser who has seen various rises and falls of a market means that they will not be put off by the financial changes that can happen. Not only is experience important, but how a financial adviser has chosen to specialise can always help guide your choice. If you are focused on building your investment portfolio, someone who specialises in pensions might not be the best fit for your financial needs.


Here at Schofield, we work with you to find the best financial products and plans for your needs. Understanding where you are financially and where you wish to be is the first step our advisers take. Once we understand you and your needs we work with you to find the best financial solution for you. Contact our team now to see how we can help you reach your financial goals.



4 views0 comments
bottom of page