The self-employed present a whole host of different scenarios to the financial adviser, than the typical employed client.
They may have built up their business over a number of years and are looking to sell on or perhaps they are at the early stage of their career, and still have intermittent income.
But the needs of the self-employed are very different. Take pensions, for example.
Those who generate their own income will not be eligible for auto-enrolement, unlike the employed, so where does this leave them?
One option is to open a Sipp, but this may not suit everyone starting out with minimal income.
Similarly, getting a mortgage can be difficult, as lenders always like reliability of income over a long period of time, even though employment comes with its own risks.
This guide sets out some of the issues facing the self-employed as a client, and how financial advisers should address them.
My thanks go to Lee Rhodes, a financial adviser at Rhodes Advisory; Andy Chamberlain, deputy director of policy at the Association of Independent Professionals and the Self Employed; Hannah Owen, financial planner and mortgage adviser at Quilter Private Client Advisers; Amit Patel, mortgage and protection consultant at Trinity Finance; Will Rhind, mortgage expert at online broker Habito;Tom Sparke, investment director at GDIM; Fidelity; Adrian Lowcock, head of personal investing at Willis Owen;Tom Sparke, investment director at GDIM; Victoria Rutland, chartered financial planner at EQ Investors;Jiten Varsani, mortgage and protection adviser at London Money; Philip Hanley, director and independent financial adviser at Philip James Financial Services; Jamie Smith, a financial adviser at Foster Denovo; Stephen McPhillips, technical sales director at Dentons Pension Management; Steve Webb, director of public policy at Royal London; Bruno Welch, managing director and mortgage consultant at Clayton-Welch Associates