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Why you may need a good Financial Adviser now, more than ever

The significant worsening of the coronavirus pandemic and the new government advice that comes with it has seen stock markets fall further this week. Understandably it has left many investors uncertain as to what to do with their stocks & shares ISA’s and other investments.

So, how can a Financial Adviser help during this time?

We help keep your emotions under control. We understand that it’s hard not to worry about your finances when the stock market takes a huge drop and we’ve seen this before during the financial crisis of 9/11, the 2008 banking crisis and we are seeing it now with the recent collapse in the oil price and the Covid-19 pandemic.

During this time, you may feel like your hard-earned money is disappearing right before your eyes and we get it. However, at Tru Wealth, and our parent company, The McKnight Financial Group, we believe that it’s time in the market, not timing in the market, that is often the best way to see good returns over your investment timeframe. This means staying invested over the longer term and riding out the peaks and falls.

For most people, Financial Planning is a long-term strategy, rather than a project you take part in for a short period of time. By developing a relationship with an Adviser, you can trust that they understand your goals and are able to chart a course that suits your circumstances and helps meet your aspirations.

We help plan your financial journey. You may be unsure of what your retirement fund should look like or for those who have started investing later in life, you may be wondering how you can make up for lost time. These are questions that may be difficult to answer without the experience and knowledge of the markets that a good Financial Adviser will have.

And yes, whilst we may be biased, it’s hard to ignore the facts. A recent study from UBS showed that 70% of those who work with a Financial Adviser are on track or ahead in saving for retirement, compared to only 33% of those who don’t use an Adviser.

Financial Advisers do more than invest your money. Although investing is a large part of our role, it’s not the only thing we offer. We also work with clients on a number of other Financial Planning tasks, such as tax planning, estate planning, spending strategies and also personal and family protection planning.

Financial Advisers can save you time and worry. People’s lives are often busy, filled with crazy work schedules or a family to take care of and realistically, do you want to spend what little free time you have, trying to research which mutual funds are right for you or finding the right balance of those funds?

Fidelity Asset Management conducted a survey with some of its newest clients, and 77% of them revealed that they didn’t have the time or knowledge to feel confident with their investment choices. And whilst there may be some that do have the time, would that time not be better spent doing the hobbies you love or having fun with your family?

An experienced Financial Adviser lives and breathes investments all day every day, and what may seem like a minefield to you, will often be something they deal with on a daily basis. An Adviser can save you a lot of time and stress, allowing you to get back to the things that you love doing the most.

Just like you’d go to a dentist when you need your teeth looked at, a mechanic if you have car troubles or a lawyer if you need legal advice, a Financial Adviser is there to help you effectively plan your money, helping to provide peace of mind.

If you have any questions on this, please get in touch.

* This article is not intended as advice. Advice will depend on your unique circumstances. 

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Tru Wealth Ltd FCA Number 776859 Registered in Scotland No SC440074. Registered address Moncrieff House, 5th Floor 69 West Nile Street, Glasgow, G1 2LT