Financial advice for all levels

Financial advice for all levels  can help you make sense of your financial life by providing you with a clear understanding of your goals and strategies to achieve them. You will work together to create a financial plan, monitor your progress and make adjustments along the way. You should reevaluate your financial plan after major milestones like getting married, buying a home or having children.

In a traditional financial advisory model, the adviser will typically meet with you face-to-face to take a deeper dive into your situation and provide more comprehensive advice. A typical adviser will also help you navigate complex decisions, such as when to draw Social Security benefits, what order to withdraw money from your various accounts and whether to rent or buy a house in retirement.

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However, many people aren’t sure where to get the kind of advice they need. Barriers to access include the cost and a lack of trust in financial professionals. Increasing accessibility of financial advice can be a powerful tool to reduce wealth inequality at the societal level.

When you’re seeking an advisor, be sure to look for one who has a Statement of Professional Standing (SPS) from the Financial Conduct Authority and ask them about their business model. They should disclose how much they charge for their service and any charges on the financial products that they recommend. It’s also a good idea to find out whether they are a fiduciary, meaning that they must put your interests ahead of their own.