• Schofield

What Does A Financial Adviser Do? Is It Helpful?



There is no simple explanation for what a Financial Adviser does, beyond the vague explanation; “they help you with your money”. Financial advice can be helpful for many people, even if you feel comfortable with your financial planning.



What does a Financial Adviser do?


A financial adviser in principle will offer advice and solutions to people or businesses to help them achieve their financial goals. They can offer insight into many products, from mortgages to pensions, investments to inheritance. As well as helping you plan your expenses and understanding how to manage your finances; they can provide advice and insight on possible insurances that can protect you from financial instability should you fall critically ill.


How Schofield work:


We can’t talk on behalf of other financial advisers, so we will explain how we work to provide the best advice possible.


The first phase is a discovery phase. This is where our advisers learn more about you and what you need from your money. They will discuss your financial goals, whether that is short-term or long-term. As well as understand where you are currently.


The second phase goes into researching where you are with your money. This can be understanding your current expenses and how you make them, any additional accounts you may have. Essentially, this will give us a picture of your current financial situation and how we can relate that to your goals. After discovering what goals you have and understanding your money, we then discuss opportunities with you. This could range from swapping savings accounts, to investment opportunities. This discussion allows our advisers to feel out where you want to move your money to.

Recommendations follow after we have a clear understanding of all the above. This is where our advisers pull together all information and recommend how you should move forward with your financial goals. They will provide you with all information relating to any services and costs that are included in this plan. After you have agreed to the recommendations, we will then work with you to implement the actions necessary.

Are Financial Advisers helpful?

Financial advisers can be helpful during any stage of your life. When you are starting out with your financial goals, your requirements will look different to someone who is looking to retire. As well as offering advice on how to manage your money and help you achieve your financial goals. An adviser will also be able to find the best products on the market. Financial advisers are not only for the wealthy. Ultimately, during each phase of your financial career, you should always look to seek advice from a financial adviser. Ensuring your finances are in a healthy state to help you reach your goals will result in less stress surrounding money. Having an adviser who you trust and who understands your financial circumstances, will help you keep more money in your own back pocket. As chartered independent financial planners we strive for excellence in our industry. We work to provide the best financial solutions possible, one of the many benefits of being independent is we are not tied to specific banks or financial service providers. Working together enables us to find the right products and services to help you achieve your financial goals. Speak with our advisers today to see how we can help.



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