When should I talk to a financial adviser?

In my previous blog, I looked at the types of saving, investment, pension and protection you may be considering when thinking about if you need a financial adviser. In this blog the question When should I talk to a financial adviser? will be considered for different stages and events during your lifetime.

When buying a house

When should I talk to a financial adviser?When you are in the process of buying a home, you should speak to a financial or mortgage adviser. An adviser in this situation can help find the most suitable mortgage for your circumstances.  Whether it be repayment, interest only, fixed or variable interest rate, an adviser will ask suitable questions to find the best fit. They will also have knowledge of which providers consider certain circumstances. Such as someone with one year’s accounts, a zero hour’s contract or a job offer only for example. This would save you time in searching the market yourself.

An adviser will also help you to consider how you would continue to pay the mortgage should anything happen to you.  For example; inability to work, being diagnosed with a critical illness or if you should die. They would be able to recommend suitable protection products to insure against these eventualities. This is something that people often overlook. But imagine if the worst happened and then you had to leave your home because you could no longer pay the mortgage.

You may also want to consider talking to a Financial Adviser if you are considering a buy to let investment. Due to tax changes, this isn’t as attractive as it once was and other alternatives may be more suitable to your requirements.

On marriage or when a baby is born

When you get married or have children, due to the change in circumstances, you may wish to provide an element of family protection. You may already have cover in place to protect your home – as detailed above. Family protection could provide additional insurance so that if anything should happen to you or your spouse, there would be either a pot of money or an amount each year or month to replace the lost income and provide breathing space.

You may also wish to talk to an adviser regarding planning for your child’s future and investing money for school fees or university fees. The sooner you start, the better.

It is also wise at this stage to talk to a Solicitor or Will writer to write your Wills.

On Divorce

So, you’ve just got married and now you’re getting divorced! Of course, none of us enter marriage thinking about divorce however, it does happen. Naturally, those getting divorced will speak to a solicitor however, it may also be wise to talk to a financial adviser. It is often the case that during divorce proceedings, the separate parties argue over certain assets. An adviser can help look at income requirements and cash flow to work towards a suitable and fair settlement rather than looking at assets alone. If the divorce involves pensions, an adviser can work with either party to get a fair amount for the recipient or to build the pension back up for the settlor.

When planning for retirement or have another specific goal or objective

When looking towards retirement, it is an important time to seek financial advice. However far off it is. If you don’t know what plans you have got, where these are invested, and what its worth or if it is going to meet your requirements in retirement, you should consider speaking to an adviser. They will help you arrange your plans so that they are structured and invested appropriately. They will also advise on the contributions required to meet your goals.

If you haven’t reviewed your pensions for 1-2 years or more, I would suggest that you do so. It is important to review financial plans regularly as legislation and regulations change as do personal circumstances. It would also be wise to speak to an adviser if and when you leave employment or change jobs.

At retirement

When you are approaching retirement or thinking about taking money out of pensions or investments, it would be wise to speak to a financial adviser. Although you may have in mind what you wish to do, this is a complex area and talking to a financial adviser could open up different avenues that you hadn’t considered and could save you money in the form of tax.


When a loved one dies it is often the most difficult time in someone’s life. By talking to an adviser, following the death of a close relative, it can provide peace of mind. There may also be some important financial decisions to make such as what to do with an inheritance or making a death claim and how to generate an income from the proceeds.


Although not exhaustive, this blog has considered the question When should I talk to a financial adviser? If ever in doubt about your financial plans, speak to an adviser, it won’t hurt.

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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