Why you might need a financial adviser
If you don’t have the time to manage your finances yourself, or could benefit from having an expert who is well-versed in the types of strategies that can help you get ahead, a financial adviser may be able to help.
People from a range of backgrounds and situations can potentially benefit from a financial adviser’s services. During your first appointment, it is important to communicate which financial areas you feel that you need help with. Your financial adviser may also identify other areas of advice that are relevant to your circumstances that you may not have thought about, but should be addressed to ensure that your best interests are being met.
If you’re thinking about investing, a financial adviser can offer advice on the suitable investment options for your situation and be available for ongoing support in the management of those investments.
If you’re saving for something like a bigger home, your kids' education or even just hoping to build that rainy-day fund, a financial adviser can create a plan to help you meet your savings target.
With money constantly coming in and going out, sometimes it can be tricky staying on top of your cash flow. A financial adviser can help you design a budget for your household, which may help you to efficiently manage your money and plan for big expenses.
If you’re facing any kind of debt, a financial adviser can create a budget and strategy to help repay your debt faster. They’ll also look at your current financial situation to assess where you can potentially put extra money towards paying off your debt.
Depending on your situation, insurance is often an integral part of any financial strategy to ensure that if something goes wrong, your financial strategy can continue. A financial adviser can offer professional advice in assessing your insurance needs to ensure that you are adequately covered, but not paying for cover that you do not really need.
If you’re approaching retirement, a financial adviser can assist with figuring out how to optimise your retirement income. They’ll support you in striving to achieve the retirement lifestyle you desire and managing your finances once you stop working.
To make sure your wealth and assets are distributed in accordance with your wishes in the event that you pass away, a financial adviser may assist you with your estate planning needs, including, where necessary, referrals to a legal professional for advice on wills or powers of attorney. A robust estate plan can give peace of mind that everything you’ve worked hard to build is going to the right people when the time comes, minimising the chances of disputes over your estate.