Can you afford not to take financial advice?

Financial advice helps you fit together all the moving pieces - dreams, income, outgoings, and an uncertain economic landscape - to create a plan that aims to help you achieve your goals.

 

In this guide

Factors financial advice will depend on.

  • Product or service you are looking for.
  • Your goals, complexity of your needs.
  • Your financial understanding and experience.

Common myths explained

To help you understand the benefits of financial advice, we've addressed a few areas people often get wrong.

It's only about investing

Financial advice is so much more than that. It’s about making sure all parts of your finances are working to meet your goals.

It can help you:

  • navigate the complexity of pension rules so you can plan your retirement
  • make your money work harder with tax-efficient options to help you with any goals you have
  • get the right financial protection to suit you and your loved one’s needs
  • if investing is part of your plan it will be at a risk level you’re comfortable with.

A financial adviser is there to help you better understand any rules or regulation changes that affect your plans. They’ll listen carefully to your concerns and will try to answer any questions you may have about your own financial circumstances.

My partner takes care of it, I don't need to know

It’s important to attend financial meetings together. After all, you’ll be working towards joint and personal goals, such as retirement or supporting your loved ones financially.

If the unexpected happens, it helps take away potential vulnerabilities as you’ve both been fully aware of your financial situation and plans from the start.

No time

I don’t have the time to meet a financial adviser, it’s easier to do it myself.

Life can be busy, but having a financial adviser could help you manage uncertainty, complexity and navigate unexpected events. That could mean more time for you, and less time worrying about whether you’re making the right decisions.

It’s also good to know you can speak on the phone or by video over a cup of tea at your home. There is also the option for you to look after your finances online 24/7, whatever suits you.

Working against me

Advisers won’t have my best interests at heart or give me the time I need.

Having a financial adviser could help you manage uncertainty and complexity and support you as you navigate any unexpected events or big changes in your life. They are there to help you better understand your financial situation, and you could gain an ongoing trusted relationship.

They will listen to your concerns and goals to help you achieve your goals, with ongoing advice for as long as you need it. Whether that’s on the phone or by video, whatever works for you.

Understanding your financial options

Helping you make the choices that are right for you and your goals.

Understand how a financial plan helps

Learn what a plan includes and how advice could support your goals.

Making the right decision

Check your tax efficiency options

From ISAs to pensions, see the steps that could improve your tax position.

Tax efficiency checklist

Wealth education

Explore the insights into financial advice and Lloyds Wealth.

Financial articles

Wealth education

Explore the insights into financial advice and Lloyds Wealth.

Financial articles

Important legal information

Lloyds and Lloyds Wealth are trading names of Lloyds Wealth Management Limited. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 11722983. Authorised and regulated by the Financial Conduct Authority under registration number 830170.