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Your financial adviser could help you set and plan to achieve your goals, which could give you a greater sense of control, competence and capability, a happy place, surely.

Article by Akwasi Duodu

Can working with a financial adviser make you happier?

The relationship between money and happiness has always been and remains a topic of intense debate. One of the first debates I had in school was “Does money make you happy?” The answer to that question was a big fat “No”, primarily because so many wealthy people suffer from anxiety and depression.

Conversely, whilst many poor people appear content and happy with their lives, the link between financial stress; i.e. not having enough money and psychological problems is well established. Research has shown that financial stress can lead to further problems such as lack of sleep and relationship conflict and breakdown. So could working with a financial adviser make you happier?

Setting and achieving goals makes you happier

Goals are essential to a sense of psychological well-being and the setting and achieving of goals are at the heart of financial advice. Whether it be planning for retirement, buying your dream home or educating one’s children, setting financial goals is an expression of our future and help set the purpose for life’s journey as well as its direction.

Your financial adviser could help you set and plan to achieve your goals, which could give you a greater sense of control, competence, and capability, a happy place, surely. They can help you plan for the different financial life stages, and keep you on track to the future you desire

Talking about it makes you happier

Many families don’t like talking about money. Some believe talking about it makes it a bit too real. Others may feel embarrassed about financial mistakes they may have made or worry that they may not be doing as well as others. This can lead to money being a taboo subject; and that’s a very unhealthy relationship to have with money.

If you recognise yourself here, it may be time to take a new look at why you feel the way you do. Speaking to a financial adviser would be a good start. For one, they wouldn’t judge you, but would listen and offer guidance on what to do going forward. And it may not all be as bad as you think!

Getting good financial advice makes you happier

You wouldn’t know it – given the media’s laser-like focus on the negative. But the financial advice profession is a verifiable happiness machine. That’s right; those who have received financial advice are happier than those who haven’t.

Studies have shown that receiving financial advice improves mental health and well-being, peace of mind, and family relationships. There are also undoubted tangible benefits. Those who receive financial advice generally pay less tax, have less bad debt, generate greater lifetime income and earn greater returns on their investments.  

Good financial advice can help you plan for, and understand how much you will need to retire on, and other more complicated topics such as preserving your wealth and assets.

It’s time to be happy

Several studies support the idea that the main benefits derived from financial advice are psychological, rather than financial. Life is complicated enough and a financial adviser can bring a sense of certainty in an uncertain world. They can also be someone to bounce ideas off and bring families together to talk about that awful taboo subject which is money.

Whist financial advisers are not expected to be fully trained mental health experts, the advice process does have many therapeutic benefits. For most clients, their adviser is a mentor, counsellor and mediator supporting them as they live out the drama of day-to-day life. It’s time to get happy. Speak to your financial adviser!

Article FAQs

Here are a handful of questions you may have after, reading this article.

How do I choose a good financial adviser?

Here are a few tips to help you find a good financial adviser. Start by assessing their credentials, and experience, Secondly, ensure they understand your financial goals and offer services tailored to your specific needs and situation. Lastly, ask if they are an independent financial adviser (IFA) or ‘restricted / tied’ as IFAs aren’t tied to a small pool of investments or financial products.

In what ways can a financial adviser make me happier?

Working with a financial adviser could make you happy in many ways. This includes reducing financial stress and increasing your confidence in making money-related decisions.  Furthermore, an adviser will help align your financial plan with your own unique goals, leading to a greater sense of financial well-being.

How can an adviser help me achieve my financial goals?

An adviser can help you achieve your financial goals through tailored, goal-based financial planning. By understanding your specific needs and objectives, an adviser can develop a financial plan. This process involves setting realistic goals, how to reach them, and regularly reviewing your progress. A financial adviser will help you to work towards your goals, whether they involve savings, investment, retirement planning, or managing investment risk, thereby enhancing your financial security and growth potential.

Do I need a financial adviser?

Deciding to work with a financial adviser is a personal choice. They offer significant benefits by helping you with retirement planning, wealth building, and providing strategies to protect against the financial impact of unforeseen events like unemployment or ill health. Working with a financial adviser can improve your financial well-being and peace of mind. This is achieved by offering tailored advice and comprehensive financial planning solutions.

How often should I meet with my financial adviser?

Great question. As a bare minimum, an annual meeting is required to review investment performance and to ensure you are still, working toward the same objectives and goals. Furthermore, should you encounter a period of change, financial uncertainty, or other factors such as receiving an inheritance, it’s important to contact your adviser. They will be able to help adjust your plan, and help discover solutions to your challenges.


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