High quality financial advice helps people to understand the complex rules around certain financial issues, such as retirement and Inheritance Tax, and to make more beneficial decisions with their money. The benefits gained from seeking financial advice certainly outweigh the fees paid.

Yet research from YouGov* shows that the value of financial advice is not known to most. The survey showed that only 32.08% of over 50s who have not yet retired expect to seek financial advice about their retirement.

The introduction of pension freedoms presents the opportunity to retire early. Yet the rules around this are far from straight forward and poorly thought out decisions can be a threat. Does the possibility of retiring early prompt people to seek financial advice? Sadly, the survey found that it does not. Only 11.97% of people who had not already retired said they were more likely to seek advice if it meant they could retire early.

Pension freedoms are just one example of how important it is to seek financial advice. The financial climate is constantly changing and talking to a professional adviser will help you to understand the complicated world of finance and to make decisions with your money that will suit your lifestyle and work in your favour.

* YouGov conducted the research between 8th and 13th March 2018 and surveyed 2,005 people over the age of 50. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 50+). The YouGov survey was commissioned by The Beaufort Group.