Rebekah Brady, Head of Pensions and Institutional Advice at Acuvest explains why good financial advice is about helping you focus on what matters most to you and importantly provides a framework that is personal to you and your family, enabling you to make decisions.
We see an increasing number of people being given the option to transfer their Defined Benefit pension into an individual arrangement. Most companies organise specific pension advice with respect to these so called Enhanced Transfer Value or Transfer Value offers (ETV or TV offers). We understand that this is a big decision to take and one that can have wide-ranging financial implications for households. We use our expertise to support our clients making the decision in the context of their full households financial picture, looking at partners pensions, broader savings and possible future financial plans. We believe that this allows our clients to take an informed decision with respect to their ETV offer, which should lead to the outcome that is best for them.
Good financial advice is about much more than explaining your numbers on a spreadsheet or balancing your books. As I have said before, I would go as far as saying it is a key enabler to living the future life you want.
- When you are extremely busy – as our clients tend to be – your household finances and long-term planning can often take a back seat. An event such as an ETV with time driven decision-making can be the catalyst that drives you to seek support in addressing that imbalance, without it costing too much of your time.
- A relationship with a financial advisor, however, is not just about an event or money. It will help provide a structure and a plan, so you have greater financial peace of mind and know your full household financial picture.
- As well as creating greater understanding of your current situation, the process is forward looking, helping to identify life’s opportunities and better evaluate options around key transitions. That could be deciding on an ETV, retiring or reducing working hours, adjusting your non-executive director roles or getting your affairs in order.
- When making important financial choices in life most of us look for a source of expertise and guidance to help us make well-informed decisions that are right for us and our families. That is what professional, holistic financial advice is all about.
At Acuvest, making a positive difference in people’s lives is our focus. When we provide ongoing advice for our AdvisorPro clients, the benefits are plentiful. It offers:
- An increased sense of security;
- Tools to ensure both partners in a relationship are involved and comfortable with the household financial picture and what those finances can enable;
- Flexibility, because things change as we live our lives and plans should adapt to remain relevant and helpful;
- Somewhere to turn to discuss and get help in understanding whatever financial choices or situations we are facing, without a product push
- And protection from making behavioural mistakes.
Acuvest is an independent pensions and advisory management business taking care of the futures of over 40,000 of our clients’ employees. For more market analysis and expertise follow Acuvest’s updates on Twitter @AcuvestIreland and LinkedIn.