Do you fancy some free financial advice? If so, more than 30 firms will be offering free sessions with qualified financial advisers between 6 and 10 June as part of Financial Planning Week.
The initiative is being run by financial planning professional body the Chartered Institute for Securities & Investment (CISI), and will see firms across the country take part.
Free 30-minute to one-hour sessions will be offered on a first come first served basis and are available in person, via Skype or over the phone. You can also email questions to a planner and get feedback.
Lora Benson, head of media at the CISI, says: "[Financial planning] can help you achieve life goals and that's something people might not necessarily associate with a financial planner - but it can be quite a positive, life-changing experience."
She also says people need to stop thinking financial advice is only relevant if you're about to retire. "We all need help with our money," she says. "Millennials might be saving for a holiday or a mortgage. Everybody has their life stages and this is where financial planning comes into play."
The initiative is in its third year and has proved popular with firms and consumers. But a recent survey from Legg Mason discovered that when it comes to paying for financial advice people are a lot less keen.
A survey of 5,000 high-net-worth investors found 39 per cent would never pay any amount for financial advice while a further 21 per cent said they would pay no more than £50 per hour. This is well below what the average adviser charges, which is £150 an hour according to unbiased.co.uk, a website consumers can use to find regulated independent financial advisers, mortgage advisers, solicitors and accountants.
However those who take advice may be better off in the long run, according to other research by unbiased.co.uk. The research found that people who had taken financial advice when planning their retirement had on average £48,279 more in their pension pot than those in a similar income bracket who did not take advice.
Caroline Rookes, chief executive of the Money Advice Service, which provides free, online, money guidance to consumers, says CISI's initiative is a great way for people to get a preview of financial advice.
"Anything that helps people to better manage their finances and raise awareness of where they can go if they need advice is welcome," she says.
In particular, she suggests, people making significant financial and life decisions around retirement, protection or investments would benefit from seeing a financial planner.
She says: "Many people simply don't know where to start. Others don't realise that guidance and regulated advice could benefit them. We need to educate people to help them make the most of their money whether it is gaining the skills and knowledge they need to make good decisions about their money, or directing them to regulated advice for a bespoke recommendation."
Find out more about Financial Planning Week at www.financialplanning.org.uk/wayfinder
