When people think about financial advice, they often focus on the end result. Retirement income, tax efficiency or long-term security. But behind every good outcome is careful decision-making, experience and a commitment to putting the client’s best interests first.
As Financial Adviser Manager at My Pension Expert, a large part of my role is supporting advisers when decisions aren’t straight forward.
Helping advisers make the right call
A recent example involved an adviser who felt a client was a perfect fit for Flexible Access Drawdown on paper. However, when we looked more closely at the client’s objectives, it became clear they wanted to achieve a specific level of secure income, had a low attitude to risk and valued certainty above flexibility.
By talking through my thought process and reviewing the client’s priorities in detail, it was clear that a different approach would better suit their needs. The advice was adjusted and the final outcome was a lifetime annuity that aligned far more closely with what the client actually wanted, not just what initially appeared suitable.
When anxiety turns into confidence
One of the most rewarding parts of my job is seeing anxiety turn into confidence, both for advisers and for clients.
With advisers, this often comes down to experience and explanation. I recently spent time with a new starter who lacked confidence when it came to annuities. After sitting together and talking through when annuities are appropriate, what information is needed and how they fit into wider retirement planning, that uncertainty disappeared. They now have no issues discussing annuities with confidence.
I see the same shift with clients. Many feel nervous about unfamiliar options, such as Flexible Access Drawdown. Once I take the time to explain how it works, the benefits it can offer, and why it might suit their circumstances, that initial nervousness often gives way to confidence and reassurance.
When people think they don’t need advice
A common situation I see is when someone feels they simply need to set up a regular income for life, without fully understanding all of the options available to them.
Many of our clients come from a generation where pensions were seen purely as a way to provide an income. But when income isn’t immediately needed, taking it without exploring alternatives can sometimes be tax inefficient. Once I explain how Flexible Access Drawdown works, many clients realise that a different approach could better support their longer-term plans.
Common Pension Questions I’m asked
Some questions come up time and time again in conversions with clients:
“Is my pension pot a good size compared to others?”
“Do I actually have enough to retire?”
“Can I take 25% of my pension tax-free every year?”
These are completely natural questions and they highlight why personalised advice matters far more than comparisons or assumptions.
What people shouldn’t overlook when planning for retirement
If there’s one thing I’d encourage people not to overlook, it’s taxation. Both in terms of income tax during retirement and inheritance tax.
Tax efficiency plays a huge role in how long money lasts and what can eventually be passed on. It’s an area that can make a significant difference if it’s considered early enough.
A common misconception about pension advice
One misconception I’d really like to challenge is the idea that financial advice isn’t good value for money.
Good advice isn’t about products, it’s about outcomes. Helping people make informed decisions, avoid unnecessary tax and feel confident about their future, can have a lasting impact.
Why people worry about speaking to an adviser
I often find that people worry financial advice will feel invasive or that advisers are acting in their own interests rather than the client’s.
That’s why transparency is so important. Taking the time to explain options clearly, answer questions openly and always act in the client’s best interests is central to how advice is delivered at My Pension Expert.
One simple step people can take this month
One practical step some people choose to take is speaking to their HR department about salary sacrifice and reviewing their pension contributions.
For those who have access to salary sacrifice, increasing contributions to a level they feel comfortable with can be a tax-efficient way to boost retirement savings although this won’t be suitable for everyone.
In my own words
I help people achieve their objectives in the most tax-efficient way possible, ensuring their best interests are always at the heart of every decision.
