There are many ways to get information about handling your money, such as newspapers, money or investing magazines, the Internet, friends and family. However, finance and building your wealth is a complex area and you should seek advice from a certified financial advisor. Just as you would go to a doctor or lawyer for their expertise in their area, you should also do the same when it comes to your financial wellbeing.
So how do you know that the financial advice you get is of high standard?
According to the Australian Financial Planning Association (FPA), getting quality and professional financial advice should be based on the following, which your financial planner should go through with you.
- Identify your life goals - short, medium and long term
- A financial planner will become acquainted with your financial background, including your income, debt levels, commitments (for example, home loan or personal loan repayments etc)
- Understands your current situation, needs and what you want to achieve now and in the future
- Prepares a financial plan based on your needs and goals and implements strategies that address your attitude to risk
- Identifies suitable investments and insurance plans for your situation
- Provides annual reviews for your financial plan to ensure it still suits your needs and financial situation
- Gives you greater control over your financial future
- Provides you with a long-term relationship with an expert that will help you reach your goals and is on hand to answer any concerns or issues you may have
- Good quality financial advice will give you a realistic picture of your financial future and how to reach your goals in a safe way
- Provides you with clear information on how to manage risk
Many Australian retired couples currently live on less than $20,000 per annum, so make sure you have enough enough for a comfortable retirement. Speak to a qualified financial planner today on 1300 55 10 45 for an obligation free appointment at no cost to you, normally worth $500.
