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The Meaningful Money Personal Finance Podcast

May 25, 2016

This whole website is dedicated to giving you enough information that never need to take financial advice. But there are points during all our lives, when the money spent on getting good quality advice will be worth many times the cost of advice. What are those triggers that let you know when to seek financial advice, and how do you recognise them?

Session 160 - When to seek financial advice

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When to seek financial advice

Increasingly these days I’m getting emails from listeners suggesting subjects for podcast sessions. That’s excellent, because it saves me from coming up with them! Tony from Reading is one such listener who wrote:

Is there a rule of thumb we can use to teach us when to use a professional and when to make our own decisions ?

e.g. If I am switching a stocks & shares ISA from one provider to another - what to look out for that indicates the need for professional advice ? Or can I just go for it ?

e.g Pensions.  Is it OK to simply switch pensions provider to get a more flexible product, a better deal or better service ?  What are the watch outs - and when should we call an IFA ?

That’s an excellent question, and a good one to get my teeth into!

In this session, you'll discover:

  1. The three steps that everyone needs to take to succeed with money
  2. Why you don't need to seek advice
  3. When you should consider it
  4. When you really, really do need to seek professional advice
  5. Which professionals to see, and when - it's not all about IFAs you now!

Thanks to Tony for the idea for this session; I hope it clarifies things for him, and for all of you!

Resources mentioned in this show:

Course: Learn How To Invest

Podcast: Session 75 - Direct Investment Platforms with Mark Polson

Website: Morningstar


Podcast: Session 22 - All About Trusts

And of course, there's always the transcript for this show, which you can get by hitting the big blue button below:

Join the conversation

I love to read and respond to your comments, so please do join in and share. Question: Can you think of any other times when you should or shouldn't seek advice? Let me know in the comments...

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