Why you need a Financial Planner
A Financial Planner can help you with many things, such as:
- Investment planning
- Retirement planning
- Superannuation strategies
- Redundancy advice
- Wealth creation
- Personal insurance and risk management
- Self Managed Superannuation Funds
- Estate planning
- Succession planning
Seeking professional financial advice from a Financial Planner can also:
- Provide direction and meaning to your financial decisions.
- Help you to understand how each decision you make affects other areas of your finances. For example, buying a particular investment product might help pay off your mortgage faster.
- Help you make the most of your money, responding to different stages in your life, health issues or changes in family circumstances.
To get the most out of your money there is a lot to consider and understand. A Financial Planner has the skills and training to guide you in the right direction.
Some common questions and misconceptions about financial planning
Do investors need to have a lot of money to visit a Financial Planner?
You don’t have to have hundreds of thousands of dollars to warrant visiting a Financial Planner. Everyone has financial matters to think about - a mortgage and superannuation are just two things of those things. You can play an active role in managing your finances with the help of a Financial Planner.
Can an accountant help me?
To provide 'financial services', an Accountant needs to obtain an Australian Financial Services Licence (AFSL) or become an authorised representative of an AFSL holder.
'Financial Services' are defined very broadly and include providing financial product advice and dealing, or arranging to deal, in financial products. So, unless they are covered by an AFSL, an accountant cannot offer investment advice or recommend specific financial products.
This information has been prepared with the assistance of the Financial Planning Association of Australia (FPA). Hillross is a Principal Member of the FPA.