When it comes to finances, one of the trickiest decisions is whether to manage your own money or call in a professional. Some people thrive on DIY budgeting, investing and planning. Others prefer the reassurance of an expert guiding them through pensions, tax and long-term planning.
This blog weighs up both sides so you can decide which path fits your situation best.
What Does a Financial Adviser Actually Do?
Before deciding if you should manage your own money, it helps to know what a financial adviser brings to the table. In the UK, advisers are regulated by the Financial Conduct Authority (FCA). They can guide you on investments, retirement planning, tax strategies, insurance and more.
Some advisers are independent (offering a wide range of products), while others are restricted (limited to certain providers). Either way, their job is to help you make sense of money.
👉 Always check the FCA Register to confirm an adviser is legitimate.
Why Some People Prefer Advisers
Expertise – Advisers have training, qualifications and experience. They can spot opportunities and risks you might miss if you manage your own money.
Objectivity – Emotions can cloud decisions. Advisers add a neutral perspective, keeping you focused on your goals instead of short-term panic.
Less stress – Managing your own money takes time and headspace. An adviser can free you up to focus on other parts of life.
Why Others Choose to Manage Their Own Money
On the flip side, there are plenty of reasons people go DIY:
No adviser fees eating into your savings.
Full control over investment and spending decisions.
Opportunity to learn and build confidence with money.
A financial plan that truly reflects your personal values.
For some, being able to manage your own money feels empowering.
Potential Downsides
Whether you use an adviser or manage your own money, there are trade-offs.
DIY can mean making emotional or impulsive decisions.
Complex areas like tax or estate planning may be harder to navigate alone.
Advisers cost money, but not having one could cost you in missed opportunities.
How to Decide If You Should Manage Your Own Money
Ask yourself:
Are your finances straightforward or complicated?
Do you have time to research, plan and track everything?
Do you need reassurance from a professional?
Does the idea of learning excite you or stress you out?
If you answered yes to the first two, you might feel confident to manage your own money. If not, an adviser could be a wise investment.
Questions to Ask If You Go the Adviser Route
If you lean towards professional help instead of managing your own money solo, ask:
What qualifications do you hold?
Are you independent or restricted?
How do you charge fees?
What’s your investment approach?
Clear answers will help you pick someone you trust.
Tips If You Want to Manage Your Own Money
Educate yourself with reliable sources like MoneyHelper
Use budgeting apps and calculators to track progress.
Diversify your investments so you’re not putting all your eggs in one basket.
Review your finances regularly to stay on track.
Call in professional advice if things get complex.
Final Thoughts: To DIY or Not to DIY?
There’s no universal right answer. Managing your own money can save fees and give you confidence. But if life is busy, finances are complex or you simply want peace of mind, an adviser could be worth it.
The important thing is not whether you manage your own money or use an adviser — it’s that you make informed choices that keep you moving towards financial security.
FAQs
Can I manage my own money without a financial adviser?
Yes. Many people do, especially if their finances are straightforward. The key is staying disciplined and informed.
Is it cheaper to manage your own money?
Usually, yes. You’ll avoid adviser fees. But mistakes or missed opportunities can also be costly.
Can I manage my own money and still get advice sometimes?
Absolutely. You might DIY most things but hire an adviser for pensions, tax or inheritance planning.
The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.
The Inheritance Rights of Nieces and Nephews in England and Wales
