Why Independent Financial Advice Is Essential for Inheritance Planning


When planning something as significant as your inheritance, you will need to put more than mere guesswork into your plans. You might have become aware of a variety of information thanks to friends, family members, and various adverts. While these are all great, they can often make you feel more confused than anything else. This is where a reputable financial advisor comes in handy. Read more for information about Portafina

The first matter that everyone needs to understand is how independent financial advice differs from the rest of the advisers out there. Take a moment to consider how the free advice offered by various banks is naturally aimed at gaining your business. In other words, they will promote their own products rather than provide you with information on a broad spectrum of options from various providers. Their bias is a direct result of their connection to a particular financial institution.

Independent advisers, on the other hand, can offer unbiased information. They can gather information from various financial institutes rather than offering those from just one bank. They are familiar with different products and services of various banks and financial institutes, which means that they can detail all the options, and you can make the final choice. Their goal is to help you make the best financial choices for your future so that you can enjoy your retirement and have a fair amount to leave your beneficiaries.

It is also important to understand that a large number of independent financial advisers are willing to offer potential clients a free consult. This means that anyone can seek impartial advice even if they are on a tight budget. Since you’re not paying for a consultation, there is no need to feel obligated into signing with that adviser. You can most certainly shop around before making any final decisions.

Even if you do end up paying a bit more for independent advice, in the long run, the benefits will make this choice more than worthwhile. Should your estate reach the Inheritance Tax threshold, your adviser will be able to offer advice on how you can make the most of it all. Alternatively, even if you don’t come close to that threshold, an independent financial adviser can really help you keep our tax liabilities to a minimum. There are a number of tax breaks and benefits that you can make the most of if you know where to look. A professional and experienced independent financial adviser is the best person to advise on these breaks since your financial success is their success too.