The true value of an IFA

Have you ever considered the true value of engaging with an IFA and what they can do for you?
Here are only 22 ways in which I can be of benefit to you.

1. Help you determine the rate at which you need to save at to meet your long-term needs. Value: confidence in the future

2. Assess how much risk you should take and need to take to achieve your goals. Value: peace of mind.

3. Help couples determine how they combine their objectives together into a single plan in a cost effective and tax efficient way. And ensure that everyone is involved in making decisions. Value: peace of mind.

4. Help you determine how much money you’ll need to retire and when you can retire. Value: peace of mind.

5. Look at old final salary or “frozen” pensions from previous employments. Transfer values are at all-time highs (bond yields at all-time lows). Value: you may be able to retire earlier, take more tax-free cash, increase life cover / flexibility, plan for inheritance tax (IHT).

6. After you retire, help you figure out how much you can / should take out for living expenses, and keep updating the numbers as your circumstances evolve. Value: Potentially prevent you from running out of money.

7. Help you determine what kinds of insurance you need, how much, and the best way to buy cover at low cost. Value: peace of mind and potential savings.

8. Making sure life insurance is written in the right trust. Value: benefits are paid quickly to the right people in as tax effective manner as possible – potentially saving tens of thousands of pounds in tax.

9. Help you put the right asset classes in the right amounts in your portfolio. Value: Reducing risk and potentially boosting your returns.

10. Determine how much fixed income investments your portfolio should include, and the best fixed-income funds. Value: Potentially tens of thousands of pounds from avoiding losses and losing income in poor performing funds.

11. Determine the most efficient way to divide your investments between tax-exempt, tax-deferred and taxable accounts (ISAs, bonds and GIAs) Value: Boost your after-tax returns.

12. Regularly rebalance your assets. Value: to help control risk and potentially add to your returns.

13. Selecting the new generation of low-cost index funds to reduce your expenses. Value: Add 0.5% or more per year to your returns.

14. Help you choose the right ISA for next year – don’t forget allowances rise to £20,000. And making sure you put the most tax efficient assets in your ISA. Value: every little extra return helps

15. Help you select funds and contributions into your employer’s retirement plan. Value: potentially tens of thousands of pounds.

16. Harvest tax losses and gains when appropriate. Use your CGT allowance, offset gains and losses. Value: Potentially tens of thousands of pounds.

17. Help you with estate planning and long term care provision. Make a will. Sort out powers of attorney. Value: Potentially tens or even hundreds of thousands of pounds in the form of additional benefits to your heirs.

18. Prevent you from making emotional investment mistakes during inevitable market volatility, both on the upside and the downside. Value: Potentially tens of thousands of pounds.

19. Help you make decisions about charitable giving. Value: potentially boosting what the charity receives from your gift.

20. Help you make decisions about giving money to your children, grandchildren or others. Value: potentially priceless.

21. Help you with setting aside money for education for children, grandchildren or others. Value: a long-term gift that can last for decades.

22. Help your children get a smart start as investors. Value: Assuming they learn well and follow through, this is priceless.

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Please note when reading any information on this website: past performance is no guide to future performance. The value of an investment may go down as well as up and an investor may not get back the full amount invested. Before investing, please ensure that you have read the information set out in the simplified prospectus, which includes full details of the charges. Any material available is directed only at persons in the UK and is not an offer or invitation to buy or sell securities. Opinions expressed on this website represent the views of Stephen Baker Financial Consultants Ltd at the time of publication, are subject to change, and should not be interpreted as investment advice.

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