I recently gave a presentation to a group of small to medium business owners, and it began with asking them ‘What are the ideal benefits you would like to obtain from a Financial Adviser?’

The results were quite varied, but they all seemed to follow similar themes, which I would summarise as prosperity, financial security and certainty, and honesty. I think that they are brilliant answers, and exactly what a quality financial adviser should be able to provide to their clients. In this blog, I will address these important points while also highlighting a few other benefits that come from engaging a Financial Adviser.

Prosperity is quite simple but incredibly important. ‘How can I take what I have today, and make it work for me moving forward?’ This is the basis of any financial plan. Whether your goals are to grow your wealth, generate an income stream, or repay what feels like a mountain of debt, it all works on the same idea of making your resources work optimally for you. Your initial Statement of Advice that you receive from an adviser outlines a strategic plan, but it is important to review this over time and adapt to your ever-changing circumstances.

Financial security and certainty ties in incredibly well with prosperity, but in my opinion, it goes one step further when talking about investments. One of the most significant benefits you can get from a financial adviser is diversification. In addition to strategic planning, we are also experts in how you can spread your investments over a larger range of asset classes (shares, property etc.) and sectors in the market. This lowers your overall risk and smooths your long-term returns.

Honesty – well this is key. Sometimes things go wrong with a strategy or markets don’t behave as predicted, which means it’s also our role to be the bearer of bad news if necessary. Having an adviser than can be completely open and honest with you helps to build trust which is imperative when we are dealing with something as important as your hard earned finances. At Hewison Private Wealth, we are committed to fostering long-term relationships with our clients and their best interest’s are constantly at the forefront of everything we do, regardless of bumps in the road, we are here to be your trusted Adviser.

In addition to these benefits, I think it is also worth highlighting the holistic nature of advice. While each financial adviser will have areas of expertise, we are also required to have a sound knowledge of many areas such as tax implications, asset protection structuring, insurance and estate planning. While we might not be solicitors, it is our responsibility to understand gaps and risks in your life and connect you with the right people to ensure you are well equipped to manage all aspects of your ‘financial ecosystem’.

One other benefit that has been prevalent (over the past five years especially!) is an emotional degree of separation from your money. Investment markets have been incredibly volatile over the past five years, and carrying out our philosophy of ‘trim profits on the way up, and top up on the way down’ has been key to stability. Making these decisions yourself can be extremely difficult, so having an adviser to help guide and recommend changes during these times has a remarkably positive impact.

So, regardless of why you initially seek the help of a financial adviser, it is important to ensure you are receiving as many benefits as possible from the relationship.