Do I need a financial advisor for my pension?

If you’re looking to save for your retirement, or you’re looking for the best way to generate an income once you’ve stopped work, there has never been more choice.

So, do you really need a financial advisor when you’re looking to make decisions relating to your pension?

Good financial advice can increase your retirement income, offer you added protection and help you maintain a focus on your long-term objectives. Keep reading for five reasons you should speak to a financial advisor about your pension.

You’ll increase your retirement income

There has been a lot of research that shows that financial advice leads to a bigger pension pot in retirement.

For example, a study by and AXA Life Invest shows that nearly half (43%) of UK savers approaching retirement increased their retirement savings levels by £98 a month as a direct result of taking financial advice.

If you put away an additional £98 per month as a consequence of taking financial advice, you would receive an additional income of £3,654 every year of your retirement, based upon a pension pot of £100,000.

If you saved this additional amount and experienced investment growth of 5% (currently the intermediate rate for tax-advantaged products such as ISAs and pensions, as prescribed by the FCA), your total pension pot would be £63,595 greater than someone who had not sought advice.

Alternative research by Vanguard suggests similar benefits of taking financial advice. They found that advisors could add value by around 3% in net returns per year for their clients.

You’ll benefit from an advisor’s knowledge and experience

In early 2018, the Pensions and Lifetime Savings Association found that 80% of people were not sure they were saving the right amount for retirement.

A similar Prudential survey found that more than half of millennials wish their employer would explain pensions to them and nearly a quarter said that they find pension rules very confusing. Prudential also found that more than two-fifths admit that they do not know if they are on target for retirement saving.

A financial advisor knows the pension business inside out. Theyunderstand how complex financial products work and how these products may be able to benefit you. They must also have achieved industry qualifications before they can give you pension advice.

All this means that you’re benefiting from quality advice from someone who knows a complex subject inside out.

You’ll make better decisions

If you’re looking to save for retirement, then you have several different choices. And, if you’re approaching retirement, recent changes to pension rules mean you have more options than ever before. So, it can pay to take financial advice to make more informed decision.

Karen Barrett, chief executive of, says: “Retirement planning has always been the uppermost reason why people seek financial advice, and this comes as no surprise given that the financial decisions you make for and at retirement are some of the most important you make in your life.

“The pensions world has seen a lot of change in the last few months, which has created even more options for consumers to consider, so having a professional adviser take you through the different options will help you to feel confident about the choices you make,” she adds.

You’ll maintain a long-term perspective

As well as offering professional expertise, financial advisors can also help you to maintain your focus on your goals and saving ambitions.

In their role as a ‘behavioural coach’, they will help you to maintain a long-term perspective and a disciplined approach to your retirement planning.

Vanguard say that the added value of this approach can be up to 1.5% per annum.

You’ll benefit from additional protection

If you take financial advice, then you have the peace of mind that you’re protected if anything goes wrong.

Your advisor is there to act in your best interests, and so you have recourse if you are misled or if a product has been mis-sold to you.

Need high-quality retirement planning advice? We offer free consultations in Epsom, Surrey and South West London. click here to book a ten minute chat, a consultation at our cost, or call (01372) 404417 to book .

Reviews and Ratings for Financial adviser Ray Martin, Kingston-upon-Thames

We’re highly rated

We retain a 5-star rating on VouchedFor, an independent service that enables clients to review their professional advisers. VouchedFor verifies the reviews and testimonials we receive, so you can be confident that they are authentic. 2018, 19, 20, 21, 22 and 23 Top Rated Adviser, as listed in The Times

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Our former financial adviser was retiring and recommended Ray to us. He alleviated the constant worry of where to best invest our savings without too much risk. We’re very pleased with the results over the last 10 years. He explains things in layman's language, which we appreciate, and gives us the confidence we have made the right choices. What more can people expect?


We had pension policies and investments that needed sorting out ready for retirement. We didn't know what to expect from a financial adviser. We assumed that he would simply advise us where to get the best deals. How wrong we were. Ray took us right back to basics. He made us carefully consider what we really wanted to achieve. He has allowed us to start to really enjoy our retirement.


I needed financial advice about pensions and investments as I approached retirement. My wife was in the same position. Ray Martin worked out a comprehensive plan for putting my pension provision and savings into proper order. He did the same for my wife. He has continued to provide us with advice ever since. Ray is always straightforward, open and proactive.


I was approaching retirement and wanting to look into limiting taxation and Inheritance Tax, as well as providing for my wife. Ray provided sound advice to switch from my current arrangement to a Drawdown Pension and ISA investments. I have now retired and have started seeing the benefits of his advice. The returns on my portfolio have increased beyond expectation. Ray performed extremely well.


I had sold my house and didn't know how to invest the money. Ray invested very wisely and there has been about a 5% increase every year. He listened to our queries, gave answers that we fully understood and followed any requests. He always had time for us, and never rushed us. We would have been financially at a loss without his help.


Ray has been advising my wife and me for about 20 years. He is everything one could hope for in a financial adviser: wonderfully enthusiastic, extremely well informed, completely trustworthy and scrupulously observant of the regulatory requirements. He is able to explain complex matters very clearly, and so far, his advice has always been first class.


I had money to invest and had no idea how to go about investing it and hopefully making a gain. I have three children and wanted advice about inheritance planning. Ray is very patient, very clear when he explains things, he is very interested in me as a person, totally trustworthy and is an excellent listener. We have never been disappointed! He`s been brilliant.


I had just been widowed. Ray sorted out and simplified what was a very complex set of investments into a much less confusing portfolio. I have been extremely happy with everything Ray has advised over the last 12 years. Whilst moving with the times, he has dealt with all aspects of my investments wisely and given me all the guidance and help I have needed.


As the financial director of a company, I was seeking to get advice on how to plan and invest for retirement. Without a doubt, Ray Martin helped me understand and plan how to fund my retirement. Ray has been with me every step of the way. His advice has been invaluable. I retired and achieved my annual income goal. His continued advice is helping me in the next stage of my life.


I needed some advice regarding my late mother’s estate. I had also retired and required advice on how to manage my private pension. Ray was extremely helpful, and his advice was very clear and easy to understand. I came away from our initial meeting feeling very relieved and less stressed. We have just had our first yearly review and I was surprised how well my investments had done.


In the last 10 years, my circumstances have changed with the passage of time. Ray has guided me on how to protect and make my money grow. He listens carefully to my needs and gives clear, concise advice in a professional manner. He and his team are always accessible and patient with my questions and their approach gives me confidence that my finances are securely looked after.


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