Need help and guidance?
We can’t provide guidance or advice about how to take your pension savings, but a specialist can. Get help with finding the right help and visit our Guidance and advice page.
We would recommend that you seek guidance or advice when you’re making a decision about investing your retirement income.
Remember: Embark can’t provide guidance or advice on your investment decisions.
What’s the difference between guidance and advice?
The main difference is around how specific it is. Guidance is usually not tailored to your circumstances. It will help you assess your investment options and ask the right questions, but there’s no recommended strategy at the end. It’s also usually free, so can be a good option to help set you on the right path.
Advice will usually end in a recommended approach for you to take. Working with an adviser means sharing your financial information and your goals for the future and will result in expert advice on which investment approach is best for you. This option usually has a fee for the adviser’s time and expertise, although often your first meeting will be free or heavily discounted, to see if working with an adviser is right for you.
Where to get guidance
We would recommend starting with an independent and impartial service like the Pension Wise service from Money Helper or the Money Advice Service, both of which come under the Government’s Money and Pensions Service. Money Advice Service can provide guidance around your investment options and retirement income, but also wider financial issues like debt and savings. Pension Wise focuses on retirement and provides free and impartial guidance sessions over the phone.
How to choose an adviser
An adviser will charge for their services. But that expense can be worth it in order to ensure you’re making the best investment decisions for your future. Financial advisers are regulated by the Financial Conduct Authority, so they must follow strict rules when they give you advice – make sure you check that they’re registered before you start planning.
An adviser will ask you plenty of questions about your finances and what you’ve got planned. Once you’ve found a potential adviser, make sure you ask them questions too. Here are some things you could ask:
- What are your charges and how are these paid?
- Are you independent?
- What have you recommended for clients like me in the past?
- Could you give me some examples of options available to me?
- What will you need from me to help you advise on my situation?
How to find an adviser
You can find a list of financial advisers here. If you find someone you like, make sure you look them up separately – see if you can find testimonials or reviews of the individual/firm (the same way you would with any other service you’re thinking of purchasing).
If you appoint an adviser, please contact our Customer Services Team on 0330 024 2345 or by email at service@embarkplatform.com, so that we can update your records.
You can access your account online at any time.