For many people, financial coaching can be a great way to get some guidance on managing their money. But, it may not be the best fit for everyone. If you have a complex financial situation, you may need the expertise of a financial adviser.
Here are a few examples of when you might want to consider talking to a financial adviser instead of a financial coach:
- You’re getting close to retirement
- You’re thinking of taking money out of your pension soon
- You have more than £100,000 to manage and invest
- You’re going through a tough time, like a serious illness, divorce, or the loss of a loved one
- You want to transfer a defined benefit pension
If our financial coaches determine that you might benefit more from speaking with a financial adviser, they’ll show you how you can find a local well reviewed firm near you, alternatively they can refer you to our own advice firm BlueSphere.
If you prefer in person advice, financial coaching may not be the best choice for you, and you may be better suited to a financial advisor. Money Mentor is a service that is aiming to be affordable and accessible so we use technology to help us.