Getting financial planning services may not be everybody’s go-to approach. However, if you want to maximise your assets and investments into a well-structured financial plan, having a financial adviser is indeed worth it.
A financial adviser can inform you about retirement and wealth-management alternatives without having to worry about missing out on the best opportunities. With their help, you get advice at every step of your financial planning journey without continuously stressing about changes in law, the economy, or financial products.
What Is a Financial Adviser?
Investment managers, financial consultants, and financial planners are all examples of financial advisers.
While the services provided by financial advisers vary based on their specialisation, they will generally assess your current financial situation (assets, liabilities, and spending) and suggest ways to improve it.
Financial advisers will ask about your goals and design a plan for you to reach them. These services may include deciding how much to invest for retirement, advising on tax planning, or aiding with aged care and estate planning. They can also help you invest your money by recommending specific investment products or by managing your portfolio.
Here are more reasons why it is worth getting your financial adviser to help you manage your finances:
1. Financial Management Can Be an Intricate, Complex Process
Of course, no one knows your financial situation best but you. That’s why you might think that you can create your own financial plan. However, financial management might take up most of your precious time. If you’re quite confused on which path to take the following questions can help you determine if you need to get a financial adviser:
- Do you have the time to handle your assets and investments, or would you benefit from a financial adviser who can carry out this task for you with ease?
- Do you have enough foundation and understanding of financial planning and investments?
- Will you be able to stay updated with wealth creation trends and legislation?
- Do you have any experience with financial products? Do you have the time to monitor, review, and make adjustments to your portfolio regularly?
Several financial processes are complex, and having a financial adviser can help you save time, energy, and money in handling them. In addition, you avoid the risk of making the wrong financial decisions that happen without an expert financial adviser.
2. The Majority of Life Events Necessitate Financial Planning
A person’s financial situation can change through a specific incident, usually caused by substantial losses or a significant life event. Consider seeking financial help if any of the following circumstances apply to you:
- Nearing retirement age, requiring help with retirement planning
- Recently inherited money from a parent or other benefactor
- Recently divorced or widowed and need financial guidance
- Unsure how but willing to get into investing
- Need to enter rwsidential aged care
What Can a Financial Adviser Do For You?
Financial advisers may be helpful when you are confused, emotional, or clueless about numerous financial management subjects. Given that most people can’t look far enough ahead to anticipate, let alone plan for, their retirement, expert counsel can be pretty useful. A good adviser will ask you a lot of questions, some of which may be uncomfortable.
They may then put together a plan and advise you on investments, retirement, estate planning, taxes, and your children’s education. Much of your challenging judgments can be easier under a skilled adviser’s broad range of experience and knowledge.
With the help of Central Coast Financial Planning Group, you get access to top-notch financial planning services in Central Coast to help you manage your investments and make sound financial decisions.
Get superannuation advice and retirement financial planning, insurance advice, estate planning assistance, aged care advice and other wealth creation solutions. Book a complimentary meeting with our team today.
Disclaimer: The views expressed in this publication are solely those of the author; they are not reflective or indicative of RI Advice Group’s position and are not to be attributed to RI Advice Group. They cannot be reproduced in any form without the express written consent of the author. This information (including taxation) is general in nature and does not consider your individual circumstances or needs. Do not act until you seek professional advice. Newcastle Financial Planning Group, Central Coast Financial Planning Group, Sydney Wealth Advisers, Coastal Advice Port Macquarie and Coastal Advice Ballina Byron are subsidiaries of Coastal Advice Group which is a Corporate Authorised Representative of RI Advice Group Pty Ltd, ABN 23 001 774 125 AFSL 238429.