Speak to an adviser
A Financial Adviser can help you make the most of your money. They'll meet with you to compare different financial products and provide advice about which ones might work best for you.
If you already have a Financial Adviser make sure you talk to them. If not, you can either arrange a meeting with one of our Prudential Financial Planning Advisers or search unbiased.co.uk.
You may decide you want financial advice, if for example, you:
- Want to start saving for a pension or to get a mortgage.
- You need advice on how to achieve a specific financial goal (retiring at a given age, sending your children to university.)
- Your circumstances change and you need to review your finances for example following the birth of a child or grandchild.
- Inherit a lump sum of money
- To understand if you are making the most of your existing pensions and investments.
- To ensure that you, your income and family are well protected in case something unexpected happens.
-To understand your options in reducing any debts you might have.
These steps will vary depending on the complexity of what you want, but the process is broadly similar:
1. The Financial Adviser will meet you at a place that is convenient for you (could be your home, their office or a coffee shop.)
2. They will start by explaining the process, how they are paid (and who by) and how much their expert advice will cost.
3. You will be asked to help them complete a confidential 'fact find' on you. They will ask you what you want to achieve, understand your income and outgoings and what financial products you own already - so they are well placed to give the best advice for you.
4. They will go away and work up some recommendations for you. This can take from a day to a few weeks. They will research the solutions that best meet your needs and consider your tax situation.
5. At a subsequent meeting, they will present their findings and recommendations to you in writing. You are not obliged to accept them.
6. If you do decide to go ahead and make a purchase, it's worth remembering that, many products come with a 'cooling off' period that allows you to change your mind within an agreed time.
Before meeting an adviser it is a good idea to:
- Get together the information you may need to give them, such as details of any partners, children or other dependants, how much you earn, what income tax rate you pay and details of any financial products you already have.
- Think about your financial goals and how much you think you can afford to set aside to reach them.
- Consider how you feel about risk - is it important that you don't risk losing any money you put in, or are you willing and able to accept the risk of a possible loss if it gives you the chance of a bigger return.
- How much can I expect to retire on at my planned retirement date? (projections based on the state pension and any company/personal pension and investments you might have).
- How can I best prepare for future events (from school fees to care homes)?
- Am I using all my tax allowances - and receiving all the benefits I'm entitled to?
- Am I paying too much tax?
- What are my options to protect my income and family?
- What is the best way to reduce my debts?
- I need to raise money from my home. What are my options?
- How financially strong are the financial product providers you are recommending?
- What options do I have to change my plans as my needs change?