Jason Calleja
Jason Calleja

Senior Financial Adviser

Melbourne

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Four reasons smart people will see a financial adviser in 2022

It’s that time of the year when, after enjoying holiday festivities with family and friends, we often come back to real life determined to tackle some important big-picture items that have languished on our to-do list for a while.

The pandemic backdrop means more uncertainty in the year ahead for most of us and even more reason to put seeing a financial adviser and developing a strong financial plan at the top of your agenda. Here are four reasons smart people are already looking for good advice early in 2022.

Financial advice is perfect for reassessing your goals

We can’t control the fact that we’re suffering the impacts of global pandemic, but it’s worth remembering that the lifestyle and financial uncertainty you’re experiencing 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 busy professional couples who haven’t reviewed these things for a long time as 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

The upheaval the pandemic 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 if your business has become too stressful or isn’t viable? Is now a good time to downsize from the family home? Does it make sense to pay down debt or top up super in a low interest rate environment? Should you retrain for a new career and how will you fund it? How can you make the most of surplus income from delayed travel and other lifestyle expenditure?

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.

Financial advice can give you back some control

If there’s one thing we’ve all had to deal with in two years of lockdowns, 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 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 in 2022.


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.