Saying Goodbye to DIY

by PenLife Associates
Published: Last Updated on

by the experts at PenLife Associates

There’s an entire box full of categories when it comes to the term ‘financial planning’, from helping you choose the best life assurance plan to protect you against unexpected catastrophes, to creating complete tax planning solutions to pass down your wealth onto future generations.

There is a full range of financial planners out there. Some only have a very basic grasp on the core issues and are only regulated to provide advice on a finite amount of things, whereas there are some that control every single aspect of their client’s finances.

Like many things in the modern age, when it comes to financial planning, there are many misconceptions that come along with it. But the thing you have to be careful with is that these misconceptions can be quite costly.

Sure, you can have a crack at a few things by yourself, like building a chest of drawers from IKEA or baking a cake. But there are a few areas that you might want to get a professional in before you get your hands dirty. Financial planning falls into this bracket. When people have a go at DIY financial planning, they can end up making things worse. In some cases, some people are essentially chucking their cash into a shredder. They can end up paying more tax than needed and can potentially miss out on golden opportunities. But it’s nobody’s fault.

Don’t ask us why, because we’ll never know why personal finance is not taught in schools. Most pick up their financial advice from Google, ill-informed family members or even from the local pub. None of these people are qualified to give you personal, financial advice to help you achieve your lifestyle and financial goals.

This isn’t the only misconception when it comes to financial planning but we don’t quite have enough space to cover them all. That’s why we’ve created this little guide to ensure that you can have the required information to help you make informed and intelligent, but, most importantly, the right decisions. We share a few of those costly misconceptions of financial planning, then ten reasons why you might want to ask for financial advice. Next, there are four vital things you should think about when you’re considering whether you need help with your personal finances. Finally, we’ll provide you with seven questions you should be asking a financial planner before you appoint them to act for you.

To request your FREE ‘Why You Need a Financial Planner’ guide, please use the cut out on this page, or alternatively, head to and we’ll get one sent out to you.

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