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5 signs you need to see a financial advisor

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Zara, Staff Writer

Tuesday, 23 February 2021

Finance is a tricky subject since the rules and regulations can be confusing. Plus without the proper advice, you can end up with a much smaller pot of money which can cause further challenges down the line. 

Never fear as regardless of your situation, a financial advisor can help you with a wide range of issues. Here are some of the top signs you may need to book an appointment with one to tell you more. 

You’re worried about your finances

Things aren’t always plain sailing when it comes to our finances. Rather than burying your head in the sand or allowing yourself to sink into debt, you should have a qualified expert review your case to create an action plan. 

At the very least, speaking to a financial advisor will take a weight off your mind. They may even come up with a solution to your issue that you wouldn’t have even thought of since they are experts in all things money. 

You’ve recently come into some money

Inheriting money or winning the lottery might not seem like a bad problem to have, but if you aren’t aware of how to manage the cash or even the tax implications it may bring - you need a trusted advisor to guide you.

A financial advisor is going to give you options on how to maintain your wealth. They'll do so as a trusted neutral party, rather than external companies or individuals who may not have your best interests at heart. 

You want to plan for your future

Whether you’re planning on starting a family or thinking about your retirement, you need to be sure you’ll have the funds to do so comfortably. Not planning for the future is where a lot of people go wrong with their finances since certain life events can put an enormous strain on your income. 

Financial advisors help people at all stages of their lives and careers. They can put a strategy together and paint a clear picture of your money so that you are prepared for what’s to come. 

You’re building a business

Even with the greatest business idea in the world, it can take years to generate a profit. All of which can have a disastrous impact on your finances and credit score, unless you have the right help behind you.

Guiding startups and existing business owners is one of the key areas of expertise of a financial advisor. From increasing your turnover to applying for a business loan, they will get you where you need to be. 

You’re in the top tax bracket

If you’re a high earner you’ll know how punishing the tax system can be. As well as income tax, you may come up against aspects such as capital gains tax or corporation tax. 

A savvy financial advisor will ensure you are paying the correct amount, and see what exemptions you are eligible for which could save you thousands. Plus, they can advise about the top savings and investment options that are open to you. 

To sum up

The above are just some of the top reasons people seek advice from a financial advisor. However, if you have any concerns about the state of your finances either now or in the future, then they are the best professionals to consult. 

Compared to avoiding dealing with the issue or making decisions without the proper guidance, financial advisors can save you a lot of time, hassle and ultimately money. 

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