The benefits of financial advice

How do you know whether to invest into a unit trust or superannuation? Is it better to pay off some loans or invest that inheritance? Will your superannuation benefit affect any pension entitlements? Will your assets be protected if you die?

These are just some of the questions that a financial adviser will be able to help you with. But good financial advice is not only about answering questions, it’s about defining your goals, both immediate and long term, and recommending solutions that fit your personal circumstances to achieve those goals.

The following points are some of the benefits that financial advice may provide you:

It gives you direction and control

Can you imagine jumping into the car to drive across town to a street and suburb you’ve never been to before without a street directory? How would you know if you were heading in the right direction?

Financial advice provides you with a roadmap. Your financial adviser will prepare a personalised plan detailing your current position and recommend solutions to reach your destination (goals).

Advice can help make your money work harder

Recommending solutions that take advantage of tax concessions or investment options that have a higher return potential for the same level of risk means that your money may grow more.

You may avoid making expensive mistakes

Many people make investment decisions that are influenced by emotions. Let’s face it, money can be a very emotional issue. A financial adviser can provide impartial advice which focuses on and encourages successful investment behaviour without emotional ties.

Reduce debt

You may learn how to reduce debt and start a wealth creation plan.

Retirement income

The amount of money you need to have accumulated to provide for the standard of living you want in retirement. How to maximise your retirement savings with both social security and tax laws.

Protecting your estate

How to plan and manage the transition of your estate should you die or become incapacitated to such an extent that you can no longer make the necessary decisions regarding your investments.

Protection of your assets

Protection of your assets and goals for you and your dependants through the use of insurance can be a vital part of your financial plan.

Setting a budget

Setting a budget to ensure your immediate needs are being serviced as well as establishing groundwork for the future.

A wealth check up

Remember your circumstances will change. Marriage, divorce, buying a house, a new child, children’s education, redundancy, retirement and getting an inheritance all have an effect on your lifestyle. These events can also require changes to your investment strategies and goals.

But the simple fact of aging changes your plans. Long-term plans soon become medium-term plans, medium-term plans soon become short-term plans. Remember when you started a medium-term plan 10 years ago – an investment for your child’s education? Well, their graduation last year has changed your plan.

Remember how you couldn’t sleep the first few weeks after you took out that 20 year mortgage thinking, ‘How am I ever going to repay this?’ Now that you’ve paid if off, what are you going to do with all that extra spending money?

More information

For more information, please contact your financial adviser.

Zurich can assist you with contacting a financial adviser.

Zurich YouTube Channel

Our mission is to help our customers understand and protect themselves from risk.

View Subscribe