What are your financial goals?
Your financial goals are unique to you. Whether you’re thinking about taking your finances to the next step or planning for retirement, there’s help available. A financial adviser can put a fresh perspective on your current financial position and what it will take to achieve your goals.
The value of advice
We think an adviser is like a personal coach for your money. They bring the right knowledge, expertise and guidance to identify your specific goals and help you achieve them. And a little planning early on can go a long way.
Watch our video to see the stories of how people identify the need for financial advice, the kinds of recommendations they receive and how they benefit.
How can an adviser help you?
To help you get whatever you want out of life, it’s good to keep track of where you are and where you want to be. An adviser can help you:
- budget and manage your money
- choose the right investment strategy
- plan for your retirement
- protect you and your family
- make the most of your superannuation.
What does an adviser need to know?
The first time you meet with an adviser, they’ll want to know about you, your life and your finances. They need to understand your current situation and your goals, so they can provide you with tailored advice.
They may want to know about:
- you—your age, how healthy you are and how many children you may have
- your business—how long has it been running, how has it been performing and how much does it cost to run.
- your super and insurance details
- your income and expenses—your income, your family’s income, any future income, any inheritance, your day-to-day expenses and your future expenses
- your investments—current and planned investments, assets and liabilities
- your tax situation—tax paid and tax owed.
Your adviser will take this information and come back to you with personalised advice. It’s then up to you to decide how you’d like to use their recommendations.
Get the most out of your advice
Your adviser will summarise their recommendations based on their analysis of the information you’ve provided them. They’ll give you a document called a statement of advice (SOA). The advice they give is just that—recommendations, and you need to decide if you want to go through with them.
Financial advice shouldn’t end with the handover of an SOA. Go through your advice and ask your adviser any additional questions you have.
- Do you understand the advantages and disadvantages of their advice?
- Do you believe they have carefully gone through your information and provided you with tailored advice?
- Have different alternatives been identified?
- Has the adviser taken your risk tolerance into consideration?
If your adviser has recommended any products as part of their advice, they’ll provide you with the Product Disclosure Statement (PDS) for these products. The PDS outlines the features and charges of the product. It’s recommended you review this in detail at home and only agree to take on the product, if you understand the advantages, and any disadvantages, of switching or adding the new product.
Get informed before seeing an adviser
Some insight into wealth management can go a long way. With a better understanding of some financial aspects that apply to your life stage, you can make the most of your adviser’s recommendations.
Learn more about ways to:
- sort out your super
- get your debt under control
- build a financial plan
- set up your kids for the future
- help your parents
- buy your first home
Take the first step towards your financial future.
If you need help with personalised advice on financial planning, be it wealth strategies or protection for you or your family, or a need to discuss your present or future retirement options give us a call today on 03 6343 1007.
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FinancialPartners (Tas) Pty Ltd ABN 26 160 284 739 is an Authorised Representative and Credit Representative of AMP Financial Planning Pty Limited ABN 89 051 208 327 Australian Financial Services Licence 232706 and Australian Credit Licence 232706.
‘This blog post contains information that is general in nature. It does not not take into account the objectives, financial situation or needs of any particular person. Because of this, before acting on any advice, you need to consider your financial situation and needs before making any decisions based on this information.
If you decide to purchase or vary a financial product, your financial adviser, AMP Financial Planning and other companies within the AMP Group may receive fees and other benefits. The fees will be a dollar amount and/ or a percentage of either the premium you pay or the value of your investment. Please contact us if you want more information.’