More Issues…

Do I repay my mortgage or invest in a pension?

This is one of those questions I am asked fairly frequently and would like to publish the answer here. However there isn’t a simple answer as it depends on your own tax rate, whether or not you are a Director (or could have ‘salary sacrifice’), the mortgage deal you have, your age and how much risk you are prepared to take with pension investments.

How do I find a good adviser?

Believe it or not, not all advisers are the same. There is some guidance given by the government and you can also do your own research or ask a friend (but be careful as their advisers experience may not suit your own circumstances).

You really need an adviser with experience in the area of greatest concern for you so don’t be afraid to ask what they specialise in. And tell them what you are ringing about before you ask.

If they tell you they specialise in everything that simply can’t be true. What they are really saying is they do not focus their advice in any one area and you may the discover the saying is true ‘Jack of all trades – Master of none’

Independent Financial Advisers are in great demand as not only can they offer solutions from the whole market but are also able to research your existing products completely as well. Many independent advisers will work quite happily for a fee so can provide specific guidance without needing to sell you something to cover their time.

Beware of advisers who do not offer a fee option as you may discover they are not independent either. Although some will try to suggest they are independent by saying their bank/company has chosen the best products and if better ones were available they would offer these instead.