Ways a financial adviser could help boost your pension

Financial adviser in the room.

For some that might be a wholly reassuring announcement. For others, it may ring alarm bells. How does a financial adviser really put my objectives, hopes and dreams, first and foremost? Could they really make my pension pot grow faster than it is?

All valid points, which is why it's crucial to find someone you feel comfortable with. People who understand your values, and will always be candid with you. Which is something we've always been proud of.

But let’s focus on the most important person first, in any financial adviser/customer relationship: YOU.

What does your retirement look like?

Naturally, if you haven’t yet retired, you won’t know for sure. But you’ll have a picture in your mind’s eye. Does that picture include exploring new places? Or a new bolt hole in a familiar place? Maybe taking up a new hobby—or getting more serious about an existing one? Perhaps there’s that car you always wanted in there, too. Maybe you’ve already started making plans about how you will spend your days.

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With retirement comes many new opportunities – you may want to go travelling or take-up new and exciting hobbies – its therefore important you have the funds set aside to do so. Even if you’re already contributing to a pension scheme, you may be able to further improve your situation – planning for retirement consists of more than simply putting money away.

Gareth Smith, Skipton Retirement Solutions Manager

All that time, so many options. And that’s the thing: we’re all different. So the retirement picture you have in your mind will be different from the next person and the next and so on.

That’s where the benefit of having an objective view can come in really handy. So even if you’re pretty confident you’ve taken all the steps you need it’s always worth asking yourself the question, “Do I need a financial adviser to advise me on my pension?” The answer is that having a little extra external advice could help you to fine tune your pension.

Good financial advisers do many different things for their clients. So they know more than the average person about how to make the best of an individuals circumstances. And doesn’t it make sense to take advantage of their experience and advice?

Sometimes, even an initial chat can throw up some really useful points that may make you say, ‘Well, I certainly hadn’t thought of that.’ And that could lead to you feeling happier about the prospect of retiring.

Pensions Explained

There are lots of reasons why you should get excited about your pension. It’s one of the best ways to save for retirement and offers many valuable benefits. Our short video will help explain pensions in more detail, and how you could boost your own pension pot.

1. You could get things straighter regarding your pension

We all want our pension pots to grow. However, talking to an experienced financial adviser could really help get things sorted, not just in your head, but in your pension portfolio, too.

And that starts by talking through your personal situation; your goals, what you want in retirement and what you may want to leave behind. They could talk you through any investment pots you may want to consolidate or by contrast, how spreading your funds might be a good idea in your circumstances. And that’s the key: it’s all about you.

What you want to do, when. How much money you want to put where. What’s your attitude to risk versus potential rewards—especially when it comes to any investment portfolios you have or are considering?

Our financial Advice team are dedicated to helping you plan your future by researching solutions that suit your circumstances. We can help you look beyond the here and now and think about the lifestyle you really want to achieve in retirement.

Gareth Smith, Skipton Retirement Solutions Manager

Because your needs are very much different to everyone else’s, it’s really a case of talking through everything. Luckily, we pride ourselves on having friendly financial advisers whose aim is to work out what’s best for you. And that’s not to mention our No Pressure Promise, so you can relax.

2. You could gain greater peace of mind in uncertain times

So, while using a financial adviser for your pension planning isn’t a magic bullet for solving any of the broader issues, there can be reassurance to be had. Reassurance that you're receiving experienced and expert help—and of course, reassurance that you are proactively doing something positive to navigate the years ahead.

But where to start? In reality, wherever you are at the planning stage and whatever your appetite for saving versus investing—or a mix or both—our advice is designed to benefit a range of investors. And that’s from the complete novice to those who already have many investments.

Starting is easy

A meeting with your Skipton financial adviser could help you to quickly discover if your pension savings could be working a little harder for you. They’ll ask questions to find out how you feel about risk and help you to plan. But the sooner you start, the better.

And because it’s easy with Skipton, you can do it sooner, rather than later, by arranging a video call, by telephone or to meet in your nearest branch.

How could financial advice impact your lifestyle?

Not sure what financial advice could do for your lifestyle in retirement? Mrs Cox, one of our customers, explains how financial advice has given her more independence and time for herself.

Why talk to Skipton financial advisers?

Important Information

For flexible retirement solutions such as drawdown, your capital is at risk and you may get back less than you originally invested. The value of your investments and the income from them may fall as well as rise. If you take too much income too quickly your fund could be depleted or run out altogether.

Get in touch

For more information on our service and to find out whether you could benefit from financial advice, call our specialist team today.