What do top financial planners do?
To the regular family man a financial planner tends to be somewhat elusive and almost mythical. You know we are out there somewhere, doing what we do but you haven’t the faintest idea what that is. Good thing for you, I’m here to bring financial planners into the light and answer the burning question “What do financial planners do?”
What is a financial planner?
A financial planner is like your personal trainer but instead of helping you reach your health goals like losing weight, training for a marathon or being able to lift weights correctly, a financial planner will help you with all things to do with your finances, money and lifestyle planning. Without the pain and immense effort that usually comes with a PT.
The top financial planners work hard to help everyone, whether you are married, own a business, raising a family or making a stand on your own. We put your goals down on paper and create a realistic plan to help you achieve them.
Yes, sometimes I meet overly-ambitious folk who have goals that are up with the clouds. In this case, I do my best to create an attractive secondary option that is more likely to being achieved.
How do I know I need a financial planner?
One of the biggest myths relating to what financial planners do is that you need to be rich and famous to benefit and afford our services. This couldn’t be farther from the truth. You don’t need to be rich or famous, although I am not going to turn you away if you are!
As a financial planner, I use my years of award-winning expertise to help everyone at whatever stage of their life they are currently at. In terms of working out if it would be a good idea to book an appointment with a financial planner, in short, the answer is yes, it’s a great idea.
Let me put it to you this way. How do you know that you need tax advice or an accountant to help you with your tax return? You just do!
You know that they have the knowledge and expertise that you don’t. An experienced financial planner can see where you are heading based on your current financial circumstances and help guide you through a maze of complex rules, that you probably don’t even know exist, around superannuation, investments, insurance structures, age pension and retirement. You may be at a crossroads and need a little investment advice, retirement planning or just want a professional’s opinion to help make the best decision for your situation. Maybe you are highly educated and just want some ad hoc advice or you may not even know where to start – either way a financial planner can help.
As a quick rule of thumb, life events are perfect triggers for seeking financial advice. From buying your first home, getting married, starting a family, starting a business, buying another property, investing to retiring. A financial planner will help you design a customised plan to get from where you are now to where you want to be.
In what ways can a financial planner help me?
Believe it or not financial planners do a lot more than play with numbers. We like to get our hands dirty, get to know you, your goals and your dreams and create a roadmap to help you achieve the things that are important to you.
Financial planners help you:
- Set a realistic plan to achieve your goals and desires
- Put things in place to protect what you already have including your wealth, family and lifestyle
- Plan for a comfortable retirement
- Build your wealth
- Achieve your financial and lifestyle goals such as spoiling your family by taking them on that magical holiday to Disney World or ensuring you can afford to pay for quality education for your children
- Guide you through life by equipping you with the knowledge you need to make smart money choices
- Educate and coach you to make good financial decisions that will benefit your future
What types of things does a financial planner evaluate?
If you haven’t caught on yet, the financial planning process involves elements that are both financial and related to your lifestyle. We’ll look at your income and your expenses as well as your dreams and goals. We’ll ask about your family and any assets or liabilities you currently have. We’ll get a little technical and review the structures of what you already have (loans, insurance etc) and determine if there’s a better way for them to be structured. Last but not least, we’ll look at your investment vehicles such as superannuation and pension accounts.
The purpose of going through each of these aspects with you, is to get to know both you and your finances well enough that we can work with you to create the lifestyle you want and help you keep it.
Financial planning – not so secret anymore
I hope this post has brought financial planners from the land of myth into that of your reality. It will be clear to you now, what quality financial planners do and how we can help you build wealth.
Over to you
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