Financial Advice Blog

Is a financial advisor worth the cost?

You know you could be doing better with your money. But is a financial advisor worth the cost? Here are a few ways they will improve your life and leave you better off.

You know you could be doing better with your money.  But is a financial advisor worth the cost?  Australians are great at getting on with it and doing things ourselves.  Is it a good idea to do that with your finances though?

A good financial advisor will take the time to listen to your financial situation, desired lifestyle and hopes and dreams for the future.  They’ll then work with you to create a tailored financial strategy to make your dreams reality.  Here are a few ways they will improve your life and leave you better off.

Take control of your money

When is the last time you checked if you’re on track to achieve all that you want to out of life? Many people avoid doing this because it brings up a lot of emotions or they simply don’t have the time.  Whatever the reason, it’s preventing them from creating a better future.  

Perhaps you dream of a new home or renovations, giving your children a private education or regular overseas travel. A financial advisor will help you take control of your money and create a plan to achieve these goals.

Receive financial advice tailored to you

A negatively geared seafront unit in Newcastle might be perfect for your neighbour and exactly the wrong tactic for you.  Would you trust your neighbour to fix your car, do surgery on you or represent you in court? Of course you wouldn’t. So why would you trust their advice when it comes to your money?

A good financial advisor will give you advice based on your current circumstances and your hopes and dreams for the future. They will go over your financial situation and work out what you need to do to reach your goals. You’ll then get a plan of action for your unique situation.  The more tailored advice you get about your money, the better off you will be.

Get help with making decisions

Having a good relationship with a financial advisor will not only set you up financially.  They can help make decisions on major life changes like how much maternity leave can you afford to take when having a baby.  They can also help keep you on track financially when life throws you curve balls such as a redundancy.

A good financial adviser will model out different scenarios so you can see the impact of different decisions, such as investing in property versus shares.  Or the sacrifices you will need to make to give your children a private education.  This modelling will give you clarity which will enable to you make informed decisions with more confidence.

Everyone’s goals and financial circumstances are different, as is your knowledge about financial matters. Working with a financial advisor means you have an experienced, qualified professional to turn to who genuinely wants to help you succeed in life.

Receive tips to get the most out of your money

While you may have already started investing, wouldn’t it be nice to make your money go even further? Along with simple tips to help you save more, an advisor can help you avoid the biggest mistakes new investors make and ensure your investments will help you reach your goals.

Given there are so many opportunities to earn more, invest smarter, and take advantage of tax breaks in Australia, it’s a good idea to get advice. Speak with someone who lives and breathes money.  Someone who works knows all the details about every incentive, bonus and tax break, as well as proven strategies to help you maximise your wealth.

Have confidence in your future

When you have a financial strategy to achieve what you want out of life, you’ll feel confident in your future.  You’ll have less stress, better health and your relationships will benefit too.

Having a financial advisor means you don’t need to spend your time researching and trying to make sense of every little financial detail, law and issue. You can work with them to create a plan, put your money to work and relax knowing you are on the right track.

A financial adviser who gives genuine, honest advice is rare, but worth finding because they can help with so many elements of your life. A good financial advisor should be able to demonstrate how they can deliver value to you.  Make sure you look for a financial advisor who charges a fee for their service and doesn’t receive commissions.  If they do, they can’t truly be focused on you!

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