Ask an Adviser – What’s the Point of a Financial Adviser?
November 16th 2021 | Categories: Should I See An Adviser | Ask An Adviser |
I understand why these questions come up. Why pay for something you can do yourself? All it takes is a bit of time, effort, and research, right?
Well, it’s not that straightforward. In fact, I often liken it to building a house. Sure, some of us could learn the necessary skills to build a home (I can hear my building mates laughing at me as I write this). Personally, though, I’m thinking of how daunting that would be and I question whether such a huge undertaking would be worthwhile, just to save money.
Besides, I know I’m lacking the necessary drive to do a worthy job. I’ve no desire to learn those skills essential to getting it right. I’d rather stick to what I’m best at and leave it to the professionals.
And so, back to those conversations querying the point of paying for financial expertise, wouldn’t you rather put your trust in people who know their specific field inside and out? Going your own way may certainly achieve reasonable results but if you had to put money on who might achieve a better outcome – be it home building, financial planning or riding a monocycle blindfolded, surely, we all agree that the experts will come up trumps? After all, they have a unique skill set and all the learning behind them already.
Having a mentor
The other key component in having a financial adviser is that they also act as a mentor and coach. They’ll help you work out what matters most and determine the best strategies for you to achieve your personal goals. The right adviser will walk with you, every step of the way, on the journey to the ultimate finish line: you, living your best possible life. Together, you’ll chart a course towards financial security.
Questions asked
Initial discussions often raise questions such as, how much money is needed to put children through school and university? How can the mortgage be reduced whilst still ensuring there’s money left for holidays? Perhaps you have your heart set on a dream car, caravan or boat or you’re needing to discuss insurance cover to protect your family. Then there’s the big question, when can I stop work and how much wealth will I need to build to still live comfortably once I do finish up work?
We work out all of these things.
Clear objectives
We’ll look at the best strategies for achieving your key goals.
We’ll help you set clear objectives. Having clear objectives in imperative. Otherwise, it’s a but like a ship heading off from port without any coordinates or maps. You’ll be going in circles. We’ll help you plan and keep on track with the view of eventually, sailing off into the sunset.
Financial strategies can be as simple as finding the most competitive interest rates for your home loan or looking into salary sacrifice. More complex strategies may include establishing family trusts for investments or creating self-managed super funds.
Building wealth is often on people’s minds and talks often include strategies around putting extra money into their super fund, starting a share portfolio, or buying an investment property.
Are you ready to get serious about your goals and dreams? Try our free Goal Setting Tools.
The right Adviser
Good advisers will educate their clients and present them with different options so that informed decisions are made. Selecting strategies that sit well with you is paramount to success.
Keep in mind that your advisers should be communicative and trustworthy. They should be someone you feel comfortable with and with whom you can bounce ideas off. You’re a team, remember.
Once a plan is in place, your adviser will help you stay on track with regular meetings and reviews to help achieve your goals. These progress meetings tend to be annual or half-yearly.
You may be interested in reading more on How to Choose the Right Financial Adviser for You.
The next step
If you’re interested in speaking with someone who can act as a mentor and maximize your chance of success, please get in touch. Of course, you’re more than welcome to pick up the tools and start building your own home but come with us and we’ll upgrade it from a cottage to something much grander…
The first meeting is complimentary and is simply about getting to know one another. It’s also where your path to financial freedom begins.
Todd Burrows
Director and Financial Adviser
Strategic Invest Blue
Book a chat with us if you would like to speak with one of our other financial advisers.
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What you need to know
This information is provided by Invest Blue Pty Ltd (ABN 91 100 874 744). The information contained in this article is of general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regards to those matters and seek personal financial, tax and/or legal advice prior to acting on this information. Read our Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relations to products and services provided to you.
Posted in Should I See An Adviser, Ask An Adviser
