Why see a financial adviser

Why see an adviser

An adviser has specialist knowledge and expertise and can help you build the plan you need to reach your financial goals.

Tools, guides & fact sheets

Financial goal setting

The financial planning process helps you assess your financial position and identify your personal and financial goals. Clearly setting out your goals puts you in a position to make better choices about how to achieve them.

Your adviser can help you set and reach your financial goals. Whether you are planning for retirement, a trip to Europe, your children’s education or for a deposit on your future home, your adviser can help you plan to reach these goals.

What does financial advice cover?

Financial advice can cover a range of areas including:

  • budgeting
  • tax planning
  • investments
  • aged care planning
  • estate planning
  • superannuation
  • life and risk insurance
  • government benefits that may be available.

Financial advice can help you identify and plan to achieve your financial goals so you can enjoy the lifestyle you want. An adviser will help you assess your current circumstances, identify your goals and priorities, and recommend financial strategies and products that will help you reach your goals.

Build your wealth

Whether you need money to fund your children’s education, take a career break, or achieve something that gives you a better lifestyle, your adviser can build a wealth-creation strategy that enables you to meet your day-to-day living expenses, manage your debt and is tax effective, so you can achieve your goals.

An adviser can help you borrow to invest, accelerate your savings and make the most of your superannuation.

Protecting your wealth

Your world can dramatically change through unexpected illness or injury. An adviser can help you establish measures to protect your wealth and design a tailored solution to suit your needs. With a financial safety net in place you can be better prepared to support yourself and those depending on you, should something unexpected happen.

Why advice is important

Quality financial advice can help you create a secure and comfortable future for you and your family. Because it is based on your goals and priorities it is tailored to suit your needs and puts you in control of your financial future.

For more information on money and getting advice visit the Financial Literacy Foundation's website - www.understandingmoney.gov.au.

Address your changing family circumstances

As your family circumstances change your adviser can recommend appropriate adjustments to your financial plan. Events that may require a reassessment of your finances can include:

  • the arrival of a new family member
  • education expenses
  • children leaving the family home
  • provision of aged care for elderly parents
  • illness or injury.

Make debt work for you

Your adviser can help you deal with debt so you get the greatest return. Strategies that may be recommended can include debt consolidation, increased frequency for your mortgage payments or even borrowing to fund additional investments. Your adviser will assess these options in conjunction with your goals and the level of risk you are comfortable with.

Have the money you need for retirement

Your adviser can help you determine the level of savings you need for retirement and provide guidance on those strategies that will deliver the income you need. Your adviser can give you advice on super strategies, government pensions, options around employment and how these choices can affect benefits.

Facing redundancy

If you are faced with redundancy your adviser can help you make critical decisions so you maintain your financial security during this change. Your adviser can help you invest your payout to ensure it delivers long term benefits in a tax effective manner. They will also be able to identify whether you are eligible for government benefits and advise you on how to manage your superannuation.

Knowing your finances are taken care of will leave you free to concentrate on planning your next career move.

Tax strategies & benefits

In developing your financial plan, your adviser will also look at tax strategies to help you get the most from your investments. As a result your adviser may recommend strategies such as income splitting, salary sacrificing to superannuation or tax effective investments.

Are your finances in shape?

Being financially fit is about making sure all aspects of your financial situation are in order. But where do you start? Complete this questionnaire (913kb PDF) to identify areas of your finances that are healthy and strong and others that may need some improvement. It’s a good starting point before visiting a financial adviser who can help get your finances in great shape.