Are you thinking of investing in shares, unit trusts and other investments? Then you might have the knowledge and confidence to buy these directly from a broker, provider or fund supermarket without getting advice.

But these products are harder to understand than cash savings products, and it’s not always easy to work out exactly what to expect from them or how they work.

By not getting advice, you might not be considering all of the options available to you. And you could risk buying a product that’s not suitable for you.  

So you really need to do your homework. Ask yourself these questions:

• Can you afford to lose any money?

• Do you have the time to do the research?

• Do you have much experience, knowledge or skills when it comes to investing?

• If things go wrong, are you comfortable taking responsibility for any bad investing decisions?

• Do you have the time and resources to review your finances regularly, to make sure everything is still on track?

If the answer to any of these is ‘no’, then contacting Patrick Wayne wealth advisers can really help.

How can a financial adviser help me?

Your financial adviser will do much more than simply tell you where to put your money. The whole point of advice is to make your money work for you and help you achieve your goals in life. So a good adviser will look at your circumstances as a whole, from your current situation to your medium and long-term future, to help you decide upon the best action to take.

For example, if you want advice on how to access your pension, your adviser will first take time to discuss your plans for retirement, and so assess your changing income needs over time. Only then will they start to recommend strategies and products.