Why get financial advice?

Why get financial advice?

Most people are likely to need financial advice at some time in their lives; especially so when going through a significant life event like having a child, buying a home or deciding on when and how to retire. The benefits of using an Independent Financial Adviser (IFA) are many fold, including helping plan for the future, saving money, reducing tax and growing the value of your pensions or investments.

How can an Independent Financial Adviser help me?

IFAs offer independent advice on a range of financial matters including your:

  • Savings and Investments – including but not limited to cash deposits, ISAs and Investment Bonds 
  • Pensions – building your retirement fund, options when taking it and advising on pension transfers
  • Protection – ensuring any income protection, life or critical illness cover offers you comprehensive cover, at the best cost, from the whole of the market.
  • More complex areas - like estate and tax planning.

Initially, a qualified adviser will discuss your current circumstances, your lifestyle and financial goals and your budget – this is sometimes known as a ‘fact-find’.

They will then undertake extensive research of the whole of the market (they are not limited to a small number of providers) and present you with a written report, bespoke to you, explaining the reasons behind the advice.

If you’d like to read more on how an IFA can help you, the Money Advice Service (a government-run body) outlines the benefits of getting financial advice here.

What are the benefits of using an Independent Financial Adviser?

An IFA will often ask a range of ‘what-if’ questions that you may not have considered and help you work out what your financial goals are. For example; what age do you want to retire and how much money will you need based on the lifestyle you’d like?

If you are looking to arrange a complex financial product, such as a pension or investment, it may save you (or make you more) money by seeking independent financial advice, especially if you’re not sure of all the ins-and-outs of the product, the legislation and the tax treatment surrounding it.

The real value of financial advice is seen over the longer term after you have put your financial plan in place. Your IFA will meet you on a regular basis (at least annually) to review your financial plan and ensure it remains appropriate for your current situation. They will adjust your arrangements as the markets or tax rules change to ensure you to stay on track to achieve your longer-term life goals.

How much does it cost?

Most IFAs will offer a free consultation at an initial meeting, to understand which areas you would like financial advice on, to identify how they could help you, and for you to get a sense of whether you’d feel comfortable working with them.

Thereafter the cost of advice will be dependent on how many areas you would like the adviser to provide advice on and the complexity of your situation. There are different ways that you can pay for advice including:

  • An hourly rate
  • A set fee for a price of work
  • An ongoing fee; for ongoing investment and review services

The cost of these should always be set out in a fee agreement before the IFA starts to work for you, signed by both you and your IFA. But whenever you consider the cost of advice, it is a good idea to think about its value too.

How do I get professional advice?

If you would like to know more about how we can help you plan and realise your financial goals, please contact us at hello@laplayawealth.com or call us on 01223 200 650.

La Playa Wealth has a team of experienced Financial Advisers who can advise on your personal or business financial arrangements. We have been building trusted relationships with clients for many years by articulating clear and tailored recommendations in areas ranging from investments to retirement planning, to complex estate planning advice.

The information contained is for guidance only and does not constitute financial advice. It is based on our understanding of UK legislation, whether proposed or in force, and market practice at the time of writing. Levels, bases and reliefs from taxation may be subject to change. Accordingly, no responsibility can be assumed by la Playa Wealth its officers or employees, for any loss in connection with the content hereof and any such action or inaction.


“With capability to simplify financial planning and yet have access to private banking, lending and provide great investment advice, I'm really pleased I picked La Playa Wealth to manage my affairs.”


Ready to work with us?

You can call us to talk more about your business on +44 (0)1223 200650 or +44 (0)20 3865 0149

What's Covered?

Proactive advice
Clarity of vision
Real service

About La Playa Wealth

Specialist & Independent

La Playa’s intelligent approach to financial services is founded on absolute integrity, an in-depth understanding of our clients, a high calibre team of advisers and a commitment to excellence in service.

Investing with Intelligence

  • Proactive advice: tapping into the intellectual capital of an experienced Wealth Manager - your financial ‘life coach’
  • Clarity of vision: with cashflow modelling to show how and when you will reach your objectives
  • Real service: a regular, rigorous review of your plan - not just ‘service by mail’; and quarterly market insights and commentary
  • Real commitment: a long-term, personal relationship with face to face meetings - spending time with you to really understand your priorities

Together with our sister company La Playa Ltd, we offer a joined-up approach, with insurance and other financial services all under one roof. 

Get in touch - our initial consultation is free, and it could be the best move you make this year.

Photo from Wealth
Photo of Ben Sear CeMAP, Dip PFS

Ben Sear CeMAP, Dip PFS


Direct Dial: 01223 200650

Mobile: +44 (0) 7889 863138

Email: ben.sear@laplayawealth.com

Twitter: @LaPlayaAdviser