The benefits of getting financial advice

There’s no doubt the financial decisions you make today can have long lasting results, both for your present and future life. So, whether you're a seasoned investor or just starting out, chatting to a financial adviser can help you take control of your finances and make a difference to your financial wellbeing.

Is it worth getting financial advice?

Yes. Financial advice can help you make informed financial decisions, navigate unexpected events, keep calm during market ups and downs, and stay focused on your long-term goals. Saving and investing is not always easy, but a financial adviser can help you create a plan. They can recommend investments, insurance, and other tools that align with your needs, goals, and comfort level with risk.

It’s never too late to plan for a comfortable and secure financial future. Empower yourself and make informed financial decisions for you and your family both now and in the future.

The importance of financial advice

Check out our video below where Chief Executive Blair highlights the importance of financial advice, the benefits of helpful guidance, and where to go for expert advice.

What are the benefits of financial advice?

Here are some key benefits of getting financial advice to help you achieve your financial goals.

1. Goal setting and planning

A financial adviser can help you define your financial goals, whether it's a comfortable retirement, first home, or dream vacation. They'll then work with you to create a plan to achieve them.

2. Expertise and knowledge

Advisers stay updated on the latest financial trends and have a deep understanding of things like investments, insurance, and planning for retirement. This means they can explain complex financial concepts in a clear and easy to understand way.

3. Risk management

Advisers can assess your risk tolerance and develop an investment strategy that aligns with your comfort level. If suitable they can help you diversify your investments, which is one way to minimise risk and optimise returns.

4. Retirement planning

Advisers help plan for retirement by estimating the amount needed for a comfortable retirement lifestyle and can assist with retirement savings strategies, including employer plans and other retirement accounts.

5. Adaptability to life changes

Advisers help navigate changes in income, expenses, and financial priorities and can adjust financial plans in response to life events such as marriage, the birth of a child, purchasing your first home or a career change.

6. Estate planning

Advisers can put you in touch with the right people to assist in creating an estate plan, including wills, trusts, and beneficiary designations.

7. Continuous monitoring and adjustments

Typically, it’s possible to set up regular annual catch up sessions to review and adjust your financial situation with your adviser to ensure you stay on track to reach your goals.
 

Who is financial advice for?

There is a common misconception that financial advice is just for the savvy investor with large investments. That’s simply not true. Financial advisers should be seen as a partner on any financial journey, someone to walk that path with you to help you achieve financial security. Having a well-thought-out financial plan based on expert advice can provide financial stability, peace of mind and reduce stress.

According to a previous Money and You survey, released by The Financial Services Council as part of its work on New Zealanders' relationship with money, found that people who got financial advice received an average of 4% better investment returns and had 3.7% more in their savings.

With that in mind, one of the best things you can do to ensure your finances are on track is book an appointment and have a conversation with a financial adviser today.  By speaking with a financial adviser, you can find out how your plan is working (or not) for you, and they can provide guidance on some suggested changes if needed.