What Does a Financial Planner Do?

A financial planner (also called a financial adviser) helps you manage your wealth and make clear decisions about your money.

They work with you to build a long-term plan based on your goals. This could include retirement planning, investment planning, tax planning, and passing wealth to your family.

A good financial planner does not tell you what to do. They help you understand your options and create a strategy that fits your situation and attitude to risk. More importantly, they help provide peace of mind with expert guidance on how to achieve your financial goals.

For many, financial planning involves more than just investment planning. It can include structuring assets, managing tax efficiently, and planning for future generations.

Financial advice is not a one-off service. Your plan should be reviewed regularly and updated as your life and finances change.

Are Financial Planners Worth It?

A financial planner can be valuable if you have complex finances, multiple assets, or long-term wealth goals.

The main benefit is clarity. A good adviser helps you organise your finances and make sure everything works together efficiently.

They can also help you avoid costly mistakes, reduce tax where appropriate, and stay focused on long-term goals.

Everyone’s needs are different. It’s important to find someone you feel comfortable talking to and who understands what you want to achieve. Many people start by asking friends, family, or professional contacts like accountants or solicitors for recommendations. If not, looking at reviews and speaking to a few advisers can help you decide.

You can also search online using:

• VouchedFor – A review platform where you can compare advisers based on client feedback and ratings
• Personal Finance Society (PFS) – A directory to help you find qualified advisers by location and specialism

Most importantly, go with your own preference and instincts when it comes to selecting your adviser. A good financial planner will take time to get to know you and build a long-term plan around your goals.

It’s worth speaking to a few advisers before deciding. Trust, clear communication, and experience are key.

Can You Get Financial Advice for Free?

There is a lot of free financial information online. This can be useful for general guidance.

However, free advice is not personalised. It does not take into account your income, assets, tax position, or long-term goals.

A financial planner gives advice that is specific to you. They help you make informed decisions and explain the reasoning behind them.

Financial planning is ongoing. As your situation changes, your plan should change too.

How to Choose a Financial Adviser: Understanding the Different Types

In the UK, all financial advisers are regulated by the Financial Conduct Authority (FCA). This means they must meet certain standards and qualifications.

You may come across these terms:

• Chartered Financial Planner – A higher qualification level, often suited to more complex financial needs
• Independent Financial Adviser (IFA) – Can recommend products from across the whole market
• Restricted Adviser – Which HJP Chartered Financial Planners are can only recommend from a limited range of providers

If you have more complex or high-value assets, you may benefit from an adviser with higher qualifications and broader experience.

The most important factor is finding someone you trust and feel comfortable working with long term.

When Should You Speak to a Financial Planner?

You may want to speak to a financial planner if you are:

• Planning for retirement
• Investing a large sum of money
• Managing business income or preparing for a sale
• Building or protecting family wealth
• Planning for children or future generations
• Thinking about inheritance and tax planning
• Going through a major life event

There is no perfect time to get advice. It depends on your situation.

Having a clear financial plan can help you make better decisions and feel more in control of your wealth over the long term.

The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.