Jason Calleja
Jason Calleja

Senior Financial Adviser


Talk to us about Financial advice today

Four reasons smart people see a financial adviser

The link between financial wellbeing and peace of mind has never been clearer, and more people then ever realise that in order to sleep well at night, they need to be in control of their finances at every stage of life.

This is never more important than in the 10 years leading up to retirement. If you're aged 50 or over, earn more than $100K a year and own your home and other assets, it's crucial to get good financial advice now. That's because how you set finanical goals, invest your Superannuation and manage your assets in the decade leading up to retirement, can make a big difference to your lifestyle and security in the years beyond work.

Here's four reasons smart people will add a financial adviser to the list of professionals they rely on to live the lifestyle they want and protect their family from unexpected events.

Financial advice is perfect for reassessing your goals and getting on road to health, wealth and happiness

Every life stage brings change, but that financial uncertainty we experience may have a silver lining: The opportunity to reassess your priorities and ensure you are living your best life.

When it comes to your financial security that means reviewing your financial goals, income and budgets, insurance, investments, superannuation and the big one, wills and estate planning. These key aspects of financial planning should be addressed in any worthwhile fee-for-service advice process and for that reason, they form our Six Pillars of Financial Advice.

It’s not uncommon for us to see time-poor professional couples who haven’t reviewed these things for a long time becuase they’ve been busy paying down their mortgage, working hard and raising kids. Sitting down with an adviser helps them focus and crystalise their future goals, often for the first time in years. It’s a journey we’re privileged to go on with our clients, but it’s important to remember: Most financial strategies take time to deliver, so the sooner you get started, the sooner you’ll be growing and protecting your wealth.

Financial advice can help you make difficult choices and avoid costly mistakes

The upheaval the last few years has brought to many of our lives means we’re experiencing more frequent change and more difficult choices.

Should you bring forward that tree change now that you can work from home? Is retiring early an option or could you scale back or consult? Is now a good time to downsize from the family home? Does it make sense to pay down debt or top up super in the current environment? The process of modelling different scenarios with the input of an experienced financial adviser can help you answers questions like these and ultimately, make the best choices for your lifestyle and your financial future.

It can also stop you from making costly mistakes, like not protecting your income and assets from unexpected events like accidents, injury or illness. These unfortunate events can impact anyone, out of the blue, and can completely derail your financial trajectory and everything you've worked hard for, if you don't have a good plan with adequate, underwritten insurances in place. High quality insurance that pays out when you really need it gets more expensive and harder to qualify for as you get older, so get this one done as soon as you can.

Financial advice can give you back some control

If there’s one thing we’ve all had to deal with in the recent years of career change, home-schooling, cancelled family plans and holidays; it’s having very little control over our circumstances. Research repeatedly shows that seeking professional financial advice can put you back in the driver’s seat and help you cope better with unexpected interruptions to life, work or income.

The recent Value of Advice Report from Investment Fund Manager, Fidelity International, found Australians receiving financial advice have greater financial security and believe that they could cope for longer if they were suddenly unable to earn an income from working. Importantly, 86% of those surveyed said receiving advice has given them greater control over their financial situation.

Having a financial plan is good for your wellbeing and relationships

The same research found two-thirds of Australians surveyed worry about money at least monthly and around half said financial issues have negatively affected their mental health or relationships. While around three-quarters of Australians have been to see their GP to address personal wellbeing issues, and more than a third have been to see a mental health professional for the same reason, only a quarter of respondents had been to see a financial adviser.

Our clients regularly tell us the peace of mind that comes from seeking professional advice and having a plan in place, along with not having to worry about money, are the biggest benefits of working with us. We love seeing the positive impact our advice process can have on their lives and wellbeing, including strengthening their interpersonal communication about money and goals. It's a great opportunity for couples who may be considering seeing an adviser for the first time, to get on the same financial page and bring more harmony to their relationship.

So, here are four good reasons to put seeing a professional financial adviser at the top of your to-do list.

General advice disclaimer: This article has been prepared by FMD Financial and is intended to be a general overview of the subject matter. The information in this article is not intended to be comprehensive and should not be relied upon as such. In preparing this article we have not taken into account the individual objectives or circumstances of any person. Legal, financial and other professional advice should be sought prior to applying the information contained on this article to particular circumstances. FMD Financial, its officers and employees will not be liable for any loss or damage sustained by any person acting in reliance on the information contained on this article. FMD Group Pty Ltd ABN 99 103 115 591 trading as FMD Financial is a Corporate Authorised Representative of FMD Advisory Services Pty Ltd AFSL 232977. The FMD advisers are Authorised Representatives of FMD Advisory Services Pty Ltd AFSL 232977. Rev Invest Pty Ltd is a Corporate Authorised Representative of FMD Advisory Services Pty Ltd AFSL 232977.