When should I see a financial advisor

​If you ask a financial advisor when the right time to see one is, they’d probably tell you six months ago! Glib comments aside, it’s not something everyone thinks they’ll need, and a lot of people don’t realise how much good it can do for a family to get their finances looked at professionally.

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What a financial advisor actually does

A financial advisor takes in everything about your family’s finances, including tax, income, wills, mortgages, insurance and more. They use this to get a clear lay of the land about your current situation, and give you a clear idea of where you are financially and what you can actually achieve with your money.
From here they can identify if there’s anything you need to change immediately, help you set a plan to reach your financial goals, explain the pros and cons of and even put you in touch with other financial services which will help your family.

Some situations where you should think about consulting with a financial advisor
If you come into a sudden lump sum of money, like an inheritance, an advisor will be able to help you use the money efficiently to reach your family’s financial goals through investments and savings.


If you have a sudden change in your income, whether it’s up or down, it could be time to talk. It might seem counter intuitive to spend money on an advisor if your income drops, but taking advice sooner rather than later could make sure your family doesn’t lose too much ground on your financial plans.

If you’re looking to make investments
or start a business with your own money you should seek advice to make sure your family is making sound decisions for your business and family’s financial future.

If you don’t have a pension the best time to start one really is immediately, but speaking to an advisor can help you choose the right pension scheme to get the most out of your contributions. It’s also possible to make changes to your pension situation, in which case you should also seek advice on maximising the impact of that change. You can also get advice if you are one of the thousands of people who have been a victim of having been mis-sold pensions.

When choosing insurance.
Getting car insurance probably isn’t a reason to drop in to the financial advisor, but a financial advisor can help you make decisions about other kinds of insurance. Health, home, business or life insurance are huge decisions with ramifications which could have a huge impact on your family’s life. Taking advice ahead of signing on the dotted line would be prudent.

If you’re looking to get a mortgage
, impartial advice from an advisor who has no stake in whether or not you get the mortgage or not would definitely be advisable.

How to find a financial advisor
Using the same financial advisor a trusted friend or co-worker has employed is a good way to start. If you don’t have access to that, a reputable local solicitors office may be able to put you in touch with someone they trust, or they themselves might also be a financial advisor.