Independent financial advice

Independent financial advice

Many of us worry about how we will cope financially in the future and this can be stressful. The temptation is to put any planning to one side, and to promise yourself that you will give it some more thought at a later time.

However, it makes sense to plan ahead to how you will manage later in life.

It is worth thinking about:

  • secure pension arrangements that will give you the best possible results when the time comes to retire
  • any savings, investments or other assets are in the best schemes for you to make the most of them
  • whether you will be able to access and pay for a good level of care and support should you need it
  • how your finances and other affairs will be looked after should you no longer be in a position to look after them yourself
  • preparing a will so you can be confident that your affairs will be dealt with in accordance with your wishes if you die

It’s always worth talking about your finances with independent experts to be sure that you are getting the most complete and accurate advice.

It's also important that any advice you receive on money matters is impartial and puts your needs and interests first.

Below is a list of organisations you can go to for advice.

Society of Later Life Advisers (link opens in new window) (SOLLA) provides a database of financial advisors who specialise in giving advice on finances in later life, enabling you to plan ahead or to make the most of your money once you reach retirement and older age.

All advisors on the database have to prove that they meet appropriate criteria and have the right qualifications before they are accredited by SOLLA.

Money Advice Service (link opens in new window) (MAS) are an independent service, set up by central government. They help people manage their money by giving free and impartial advice on all money matters.

The Pensions Advisory Service (link opens in new window) offers free and impartial advice on all aspects of state and private pensions. They can also be contacted on their helpline 0300 123 1047.

Saga (link opens in new window) provides free financial advice and the option to pay for personalised financial advice. It is regulated by the FCA.

Tax Help for Older People (link opens in new window) advises older people about tax problems across the UK. They use fully trained volunteers who are completely independent of HMRC and provide a confidential service.

Your local Citizens Advice Bureau (link opens in new window) can offer free and impartial advice on a wide range of financial issues, and will point you towards more specialist advice when appropriate.

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