Reasons why you need to consider financial advice

• People who receive financial advice could end up around £40,000 better off than those who don’t

These July 2017 findings from the International Longevity Centre and Royal London came after comparing people who did and didn’t receive financial advice, between 2001-2007, and the average difference in the value of their assets by 2012-2014. Past performance is not a guide to future returns. There is no guarantee receiving financial advice will leave you better off.

• Interest rates are low

Bank of England base rate remains at a historic low, and is unlikely to significantly rise for years. If you have savings earmarked for long-term goals, your adviser can help you think about other options to potentially achieve better returns

• You might be paying more tax than you need to

There are many different ways you can reduce the amount of tax you are paying on your savings and investments, such as your ISA and pension annual allowances. Your adviser can highlight opportunities to minimise the amount of tax you pay and receive more of your returns

• To consider your long-term plans

When it comes to your financial ambitions, it can make a world of difference to take time out and consider if you have the right plans in place. Your adviser can review your arrangements and assess how they measure up to your aspirations, to help you decide if you need to make any changes

• To plan your legacy

Your adviser will help you think about your legacy and how you can ensure your wishes are acted on