When you think about financial planning and financial advice, the first things that come to mind are often things like cash flow models, investment return, and tax planning. However, the scope of financial advice goes beyond its monetary value proposition. It’s also about instilling in you a sense of financial well-being: the state of feeling stable and in charge of your finances, in the present and the future. It’s knowing you can handle day-to-day, manage the unexpected, and feel secure knowing you are on the right path for a healthy financial future.

Financial planning and financial well-being are intertwined. Whether that comes in the form of helping you to understand what tax planning actually means for you and your plan, or providing you with the confidence that you have a solid plan in place that will allow you to retire comfortably, these elements of financial planning should not be overlooked when assessing its value. Helping you navigate the complexities of the financial landscape, legislation, options, opportunities, and helping you achieve the life you want, with confidence, clarity, and peace of mind, is a key part of what financial planning is all about.

A better night’s sleep… Emotional peace of mind

Money is emotional. It’s tied to our hopes, fears, and dreams for the future. And speaking of dreams, did you know that around 20% of people who receive financial advice report sleeping better[1]? This is because having financial advice can benefit your emotional and mental well-being, giving you that precious peace of mind. 84% of people receiving regular financial advice say it significantly benefits their emotional and mental health[1]. Feeling more in control of your money, whether that is your day-to-day budgeting or long-term retirement plan, can let you feel more relaxed and in control. Knowing you have a plan can be half the battle.

Ability to manage financial shocks

Life is full of change, and while many of these changes are welcome, some can arrive unexpectedly and bring financial pressure. Whether it’s an urgent home repair, a health concern, or a temporary loss of income, these events can be highly stressful. Having a financial plan in place can make a meaningful difference. Not only does it provide a practical way to manage unforeseen costs, but it also offers peace of mind. Knowing you have a safety net can ease anxiety and help you feel more in control, whatever life throws your way.

Your planner will be able to help you work out what the best method to cover unexpected costs is for you. This could take the form of a “rainy day” or emergency fund. It is often recommended to have between three to six months’ worth of essential living costs set aside as a buffer. The unknown is often the scariest thing and having a plan in place to manage that can make all the difference.

If you have concerns that would require longer term security, some form of protection cover may be suitable for your situation. Protection cover can take a wide variety of forms such as life insurance, critical illness, or income protection. This can help ensure that you and your loved ones are protected should the worst happen. This kind of peace of mind can be a powerful antidote to stress, however with the level of diversity in protection cover, it is important to discuss this with your planner to see what would be most suitable for your situation.

Time back for what matters most

Managing your finances can be time-consuming and complex. By getting professional help, you can free up time to focus on what truly matters to you, such as family, travel, hobbies, or simply enjoying retirement. Having a financial planner doesn’t mean you abdicate any involvement in your plan, but it can mean you spend less time trying to figure out the ins and outs of a complex financial landscape. Having someone to help you not only navigate this, but also help you understand this, can be invaluable. Understanding your financial plan and gaining back valuable time can give you the freedom to enjoy your plan.

The advice gap: Bridging it together

As we have outlined, taking financial advice can leave you feeling more confident, in control and better prepared for what life throws our way. However, less than 10% of the UK population are receiving professional financial advice . And those that don’t receive financial advice, many with savings held in cash feel they are overwhelmed by the prospect of investing or lack the knowledge to invest with confidence[2].

There are a number of barriers to seeking financial advice. Some of these include perceptions around the cost of advice, lack of trust, thinking they are not the right age group for financial advice, and even just believing it isn’t suitable for someone like them[1].

However, financial advice is suitable for a wide variety of people in varying circumstances. To this point, the UK government has also made it clear that as part of their work to reinvigorate the UK financial landscape, one area they are looking at is financial advice. The government have acknowledged that there are a large number of people who would benefit from receiving professional financial advice who are currently not being helped. Rachel Reeves underlined this, acknowledging the importance of this type of support in allowing people to “build a more secure financial future for themselves and their families”[2] and stated that improving access to financial advice is a key part of the government’s Plan for Change.

Currently, a key way that new clients adopt professional financial advice is through referrals. This makes sense, for people receiving financial advice, 86% of them would recommend professional financial advice to others[1]. To this end we launched our Refer A Friend campaign. Many of our clients refer family and friends to us, and we’d like to use this huge compliment to do something for the greater good. For any new clients that sign up with us from a personal referral, we will donate £250 to a UK-based charity of your choosing. We believe in making a difference, as well as focusing on our clients and colleagues, we also care about the bigger picture. By referring someone you care about, you’re not just helping them access expert advice. You’re also supporting a charitable cause.

How to refer

You can refer in a way that works for you:

The bottom line? It’s not just about the bottom line

Whilst having a financial planner is monetary in nature, the benefits extend beyond the outcomes of your finances. It provides additional value in the confidence, clarity, and peace of mind it brings. It’s about having someone in your corner, someone who understands your goals, listens to your concerns, and helps you make the most of life.

The information in this article should not be regarded as financial advice. Information is based on our understanding in August 2025. Investment growth isn’t guaranteed and it’s possible that you could get back less than you paid in. Aberdeen is not responsible for the information, accuracy and views of external sources.