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Getting good advice

At this time of year, many of us start thinking about packing away our winter wares and getting the house in order for Spring. Just as we focus our attention on a Spring clean at home, it is a good time of year to review your finances and consider if you are making the most of every opportunity to leverage your financial plan. In this edition of Keeping in Touch we look at the value of good advice and how it could positively impact your life – whatever your financial planning goal may be.

Why do I need financial advice?

Good advice from an experienced, well-informed adviser who can work in partnership with you to look at strategies that may help you save money, protect against risk, manage debts, grow assets, utilise tax effective investment strategies, plan for retirement, identify entitlements for government benefits, and plan what inheritance is to be left to the next generation, could bring you some peace of mind.

When is the best time to seek advice?

Most people choose to seek financial advice at significant turning points in their life. You may need an adviser to help you consider your options in regard to some exciting life events such as securing your first job or buying your own home. You may consider involving a financial adviser when a life event may require you and your partner to make a joint financial decision such as raising a family, starting a business or retiring from work.

Unfortunately, there are some life events we have no control over where professional financial advice may need to be sought, such as in the case of redundancy or the passing of a loved one. How you manage these life events and how proactive you have been with your
financial affairs prior to an unexpected situation may have a significant impact on your financial future.

How could a financial adviser provide value?

Working with a financial adviser can be a long term commitment and if you want to get the best out of your financial plan, taking time to find the right adviser for your needs is an important part of the process.

The financial advice process typically includes, but is not limited to, the following elements:

  • Establishing and defining the relationship with your adviser;
  • Establishing your financial goals;
  • Gathering relevant information to assist with strategy development;
  • Analysing and evaluating your current financial status including problem identification;
  • Prioritising goals in relation to desired short and long term outcomes;
  • Developing a financial plan and presenting recommendations and/or alternatives for your consideration;
  • Implementing the agreed-upon recommendations, and
  • Reviewing and updating the financial plan as required.Good financial advice can help you to make the most of your financial resources, look at ways to build your assets, provide financial security and importantly, bring you peace of mind.

What’s next?

If you feel you, or a member of your family, would benefit from a Spring clean of your financial position, why not contact our office and make an appointment to discuss your individual situation and options? We would love to hear from you!If you enjoyed this article please feel free to share it.


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