Do I need financial advice?

If you have money to invest, you need to protect yourself or plan for the future, you may benefit from talking to a financial adviser. This will depend upon you, your finances and personal circumstances and your financial objectives. This article will look into different areas of savings and investment to answer the question Do I need financial advice?

Cash savings

Do I need financial advice?If you’re looking to save money in cash using products such as savings accounts, cash ISAs or fixed rate savings bonds, you can use comparison sites to find the best rates and deals available. You don’t need to get financial advice for cash savings and some advisers’ won’t actually advise on these types of products. These can usually be easily bought directly from the providers.

It may however, be worthwhile talking to an adviser regarding your options. They may be able to help with saving tax efficiently and talk to you about other options, especially if you will be saving the money over a long period of time.


If you have some money to invest and you are thinking of investing into the stock market, this is also something that you could do yourself. This can be more risky however, due to the nature of investing and they type of products that you will be investing into and as with most investments in the stock market you could lose money.

You could buy a product that’s not suitable for you or invest in areas that are very risky and therefore you may lose money.

Some people love investing themselves however it may be worth considering:

  • How much money you can afford to lose
  • How much risk you wish to take
  • Do you understand financial products and their tax implications
  • If you have the time to do the research
  • Your experience, knowledge or skills when it comes to investing
  • Are you comfortable taking the responsibility if things go wrong

If the answer to any of these is ‘No’ then the answer to the question Do I need financial advice? Would be yes.


If you’re looking to invest into a personal pension, to review your existing pensions or consolidate several existing pensions it’s usually best to get advice unless you really understand how pensions work. Many older style plans will have guarantees that could be lost on transfer for example.

Insurance or mortgages

Some insurance products and mortgages can be purchased using price comparison websites, or bought directly from providers.

However, Financial Advisers will discuss your requirements and find the product to best suit your needs and they might be able to get you a better plan to suit your needs.


This article has looked at the types of products you may be considering when asking Do I need financial advice? In some circumstances you may be better off speaking to a financial adviser, in others, you may be able to “go it alone”.  The choice is really yours.

To understand more about the benefits of financial advice, read What is the Value of Financial Advice and The Value and Benefits of Financial Advice

In the next blog on Thursday, I will look at “When should I talk to a financial adviser?” which will look at the different stages and events in life that may be assisted with financial advice.

Tax rules, rates and allowances are all subject to change and are dependent on individual circumstances. The Financial Conduct Authority does not regulate tax advice and some forms of offshore investments. The value of investments and the income from them can fall as well as rise and you may not get back the full amount you invested.

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