Why do I need an IFA?

If you’re looking to invest and plan for the longer term, then consulting with an independent financial adviser could be beneficial. With the number of different types of products available, pensions can be very complicated and confusing investments and finding the best fit for your financial goals could be challenging.

Professional independent financial advisers will carry-out a ‘fact find’ which means they will ask you detailed questions about you, including your current financial position, your retirement goals and about your family. Once they have gathered all the necessary information, they will give you expert tailored financial advice to help make your retirement dreams a reality.

Many people when thinking of their pension, don’t consider this as their life-time savings but, decisions you make today could affect you and your family’s future. An independent financial adviser who is an expert in their field could add real value and security for your funds.

Depending on the adviser you consult with, if they are unrestricted, they may have access to a broader range of potential funds and choices than you can access directly. These funds may have better performance, the security you’re looking for or the flexible options that you need to deliver in retirement.

The FCA recommends that any defined benefit pension valued at over £30,000 you should seek professional advice before deciding to transfer out.

As with all types of investments, the value of your funds may go down as well as up, and you may not receive the same amount of money back.

Benefits of Independent Financial Advice

As with anything in life, speaking to a fully qualified and experienced professional can give you the expert advice you need. Concerning your pension, a fully authorised and regulated financial adviser can offer you real value and security when it comes to making the most of your life savings. As we mentioned, pensions can be confusing and complicated products, so your IFA should help provide clarity and understanding, guiding you through the pensions minefield to find the right pension for you and your circumstances.

How can I tell if an IFA is authorised?

All IFA’s or pension specialists we connect you with are authorised and regulated by the Financial Conduct Authority. But if you wish to check any IFA’s details, all you need is their six-digit number and click here to visit the FCA register. If using an IFA not recommended by Nationwide Advice, please always check that they are FCA regulated for your protection.