Popular Myths Surrounding Wealth Management

Getting in touch with a financial adviser can benefit many people. It can help them better understand their financial situation and develop a plan to help them manage their money. A good adviser will also help you identify areas of concern and create a strategy that will allow you to make informed decisions.

Finding a compatible financial adviser can be very challenging. It can involve trusting someone else with their financial information. Even though we may need help, many of us are still hesitant to ask for it, and there are myths surrounding their services.

Myth 1: You Can Be Your Own Adviser

However, it is also essential to consider the various factors that affect financial planning. Doing it on your own may not be able to help you maximise the opportunities that are available to you.

One of the most critical factors you should consider when it comes to financial planning is the continuous monitoring of the markets and trends. Having a financial adviser on your side can help you make informed decisions and improve the efficiency of your life.

Myth 2: The Service is Only Available for the Rich

Contrary to popular belief, financial advisers are not focused on individuals with a certain amount of money. They work with people who have different income levels and assets.

Having a financial adviser can also help individuals with less money to invest. They can provide them with valuable technical expertise to help them manage their investments. Because advisers can customise their services to meet the needs of their clients, they can benefit no matter where they fall on the wealth scale.

Myth 3: Financial Advisers are Too Expensive

One of the most important factors you should consider when it comes to financial planning is the cost of advice. Having a good financial adviser can give you a clear understanding of the fees they charge. They will be able to tell you upfront how much they charge and how they can benefit you.

Myth 4: I Will Choose an Unfit Adviser

If you’ve ever worked with a specific professional, such as an electrician or a plumbing contractor, you know that a poor experience can affect your decision to hire them again. Before you start working with a financial adviser, it’s vital that you thoroughly learn about their capabilities and reputation.

Ask your friends and family members to recommend a good financial adviser. Ensure the firm is licensed with the Financial Conduct Authority (FCA) and has the credentials to provide sound financial advice.

ABOUT SUMIT SELLI

Living and working in London, UK, Sumit Selli ACA has spent the past decade building himself into a skilled, knowledgeable, and insightful financial professional and advisor dedicated to helping his clients find peace of mind in their money management and financial planning.

​In his professional career, Sumit Selli has been a Partner with LAS Group in London since 2013. A Group built on the mission of creating peace of mind and empowered lifestyle choices to help clients make informed decisions about their personal money management and their business’s financial health. Sumit and the rest of the team abide by the values LAS prides itself on – Integrity, Consistency, Agility, Resiliency, and Caring – while executing the Group’s offerings. These service offerings include Technology Implementation, Specialist Tax services, Consultancy and Restructuring, Reporting and Compliance, and Due Diligence.

At LAS Group, the team works with clients from all across the board. Alongside representing a number of high-net-worth families both based in the UK and with touchpoints throughout the region, they also represent the financial interests of some of the country’s top medical consultants as well as emerging talents in the healthcare industry.

As an individual, Sumit Selli has worked hard over the past few years to build his experience in the financial industry. Alongside his work with LAS Group, Sumit has served as a Chairman with Ccuoco, co-founded Richmond Globex SA, directed at Whitefields Research, and worked as a Trustee with The Wavell Room. Alongside his prowess as a professional operating within the financial services industry, Sumit Selli has established expertise in investment and wealth management, tax preparation, business strategy, financial reporting, cash flow, and more.