Tax, investments and pension rules can change over time so the information below may not be current. This article was correct at the time of publishing.

What are the benefits of taking Financial Advice before retiring in the UK?

Changes to workplace pensions and the introduction of auto-enrolment has placed more responsibility on the individual for planning their own retirement. Employees now need to decide if they want to make additional payments into their pension, they also need to choose the underlying fund choices. 

It is unlikely that the typical individual will be educated on their investment options and understand the risks of certain types of investments meaning that Financial advice is more important than ever when it comes to retirement planning.

Taking Financial Advice can help you to understand the rules and legislation around retirement and pensions. 


Financial Advice to help you save tax

A pension is one of the most tax-efficient ways you can save for the future so it is vital you understand the rules and how to contribute more to it if you are able to.

Financial advice can also help you to save tax by making sure you utilise all your available tax reliefs and allowances.

At Four Wealth Management your Financial Adviser will take a holistic approach to your finances and look at your overall financial position as well as your pension. Your Adviser will consider ways you can mitigate various taxes include Inheritance Tax and Capital Gains Tax.

Book a no-obligation financial review meeting 


A financial plan for the future

The Coronavirus pandemic has highlighted the importance of having a financial plan in place and how unforeseen events can have a detrimental impact on people’s financial situations if they are not prepared for the unexpected.

A financial adviser can educate you on tax-efficient ways to take your income at retirement and also how to pass on your wealth to loved one’s tax-efficiently. 

The true value of Financial Advice

In 2019, the International Longevity Centre UK (ILC) conducted research that showed those who have taken financial advice are on average £47,706 better off when they reach retirement than those who didn’t take advice* . 

The research also highlighted the non-financial benefits of taking financial advice such as peace of mind knowing that you have financial security and a plan in place for you and your family. Those who had taken financial advice also felt empowered to make financial decisions for themselves as they are now better educated on financial matters* . 


Book a meeting today

Book a no-obligation review meeting of your pension to help you to understand how much you need to save each month for a comfortable retirement. 


Book online or call 0117 973 0500.

 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.
The bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances.
*ILC, what it’s worth-Revisiting the value of financial advice, November 2019, based on 2014/2016 calculations. Receiving professional financial advice between 2001 and 2006 resulted in a total boost to wealth (in pensions and financial assets) of £47,706 in 2014/2016


Enquire Now

If you have any queries or would like to arrange a face to face meeting with an adviser for a no obligation review of your personal finances, simply book a call back using the form below. Alternatively, you can call us on 0117 973 0500.

The Partner together with St. James's Place Wealth Management plc are the data controllers of any personal data you provide to us. For further information on our uses of your personal data, please see the Partner's Privacy Policy or the St. James's Place Privacy Policy.

Share this article

Share on google
Share on linkedin
Share on print
Share on email
What are the benefits of taking Financial Advice before retiring in the UK?
FourWealth Management