Why You Could Benefit From A Financial Advisor?
"A financial planner is like having a personal trainer for your finances"
What does a financial adviser actually do?
Basically, financial advisers use their knowledge and expertise to construct personalised financial plans that aim to achieve the financial goals of their clients. They can help you employ strategies to build your wealth, manage debt and mitigate risks.
What do I need to do when seeking out financial advice?
When deciding which financial adviser to go with, ensure they are licensed to provide advice under an Australian Financial Services License (AFSL). You can check their qualifications on the Financial Advisers Register. Familiarise yourself with their specific services and associated fees, and always compare them to other advisors to ensure they can assist you correctly in the area you need. Furthermore, decide what you want to achieve with them. Do you want help investing money, budgeting to increase savings potential or are you planning for your retirement?
When should I hire a financial advisor?
· When close to retirement age;
· After receiving an inheritance or large pay increase and you have significantly more money coming in;
· When getting a divorce;
· Any other major life event that largely alters the amount of money you have coming in or out;
· If you feel lost or unsure how to go about securing your financial future and would like a roadmap to help show you the way; or
· If you feel as though you could benefit from seeing one to ensure you maintain control of your finances well into the future.
How can Solace Wealth Management benefit you in a wide range of instances?
We always start with a comprehensive assessment of your financial situation as a whole to get a very good understanding of your current position. We will talk through what you want to achieve and set realistic goals. Once those goal posts are set, we can then tailor a specific plan to get you there. The advantage of going through this process is that it provides reassurance that your goals are achievable. Specific goals could be set around saving, building an investment portfolio, retiring by a certain age, or devising ways to create passive income. Once we have the plan in place we will encourage you to have regular catch ups to review and track your progress, while also keeping you accountable for your actions. We will always endeavour to take a holistic approach to your plan to take into account your entire financial circumstance and understand how each area of your finances interact and impact each other.
Many people make big financial decisions prior to seeking professional assistance, and sometimes, mistakes can be very costly without proper planning and implementation.
If you have any questions or want to know how we can help you, feel free get in touch on 0423 313 486 or kate@solacewealth.com and book in for your complimentary consultation.
Kate Trost
Senior Financial Adviser and Director of Solace Wealth Management (AR numbers 465078/1262350)
Authorised Representative of Avana Financial Solutions (AFSL 516325).
