Previously people used to rely on their bank manager for financial advice, but the way banking is structured has changed considerably and you are now encouraged to do as much of your banking online as possible with minimal contact with banking staff. These, along with a number of factors such as our complex tax and social security laws, especially around retirement planning; a period of low interest rates encouraging investors to look for growth opportunities; our compulsory superannuation system and an increase in media coverage around money matters and investment opportunities have all contributed to the rapid increase in financial planners over the last decade or so.

The value of consulting a financial planner lies in the development and execution of a sound, personalised strategy rather than simply a return on the stock market. This is especially true as our population ages and we run the risk of outliving our finances.

Working with an experienced financial planner ensures you have access to the knowledge and skills necessary to set a strategy that takes into account your personal risk profile, taxation laws, social security rules, estate planning, income protection, personal budgets, family law, any trusts, companies or partnerships you may be involved in and expected long-term returns from various asset classes.

This is the knowledge you pay for when you see a financial planner, not simply your annual investment returns.

 

 

 

 

 

 

 

 

 

 

 

 

 

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