How a financial planner helps you.
The things a Professional Financial Adviser Does for You:
THE FINANCIAL PLANNER:
- Cares greatly about your finances and long term financial plans
- Guides you to think about areas of your financial life you may not have considered
- Formalises your goals and puts them in writing
- Helps you prioritise your financial opportunities
- Helps you determine realistic goals
- Studies possible alternatives that could meet your goals
- Prepares a financial plan and/or an investment policy statement for you
- Suggests creative alternatives that you may not have considered
- Reviews and recommends life insurance policies to protect your family.
- Assists you in setting up a retirement plan
- Assists in preparing an estate plan for you
- Reviews your children’s custodial accounts
- Helps you determine your Superannuation Pension Required Minimum Distribution.
- Provides reminders about key financial planning data
- Checks with you before the end of the year to identify any last minute financial planning needs
- Guides you on ways to fund health care in retirement
- Prepares an asset allocation for you so you can achieve the best rate of return for a given level of risk tolerance
- Stays up to date on changes in the investment world
- Monitors your investments
- Reviews your investments in your Superannuation or Pension plans
- Helps convert your investments to lifetime income
- Refers you to banking establishments for loan and trust alternatives
- Suggests alternatives to increase your income during retirement
- Records and researches your cost basis on securities
- Provides you with unbiased investment research
- Provides you with personal investment analysis
- Determines the risk level of your existing portfolio
- Help you consolidate and simplify your investments.
- Provide you with technical, fundamental, and quantitative investment analysis
- Provides introductions to money managers
- Shows you how to access your statements and other information online
- Suggests alternatives to lower your taxes during retirement
- Reviews your tax returns with an eye to possible savings in the future
- Stays up to date on tax law changes
- Helps you reduce your taxes
- Repositions investments to take full advantage of tax law provisions
- Works with your tax and legal advisors to help you meet your financial goals
- Monitors changes in your life and family situation
- Proactively keeps in touch with you
- Serves as a human glossary of financial terms such as yield, franking credits, P/E ratio, fixed interest, etc.
- Provides referrals to other professionals, such as accountants and attorneys
- Shares the experience of dozens or hundreds of his/her clients who have faced circumstances similar to yours
- Helps with the continuity of your family’s financial plan through generations
- Facilitates the transfer of investments from individual names to trust, or from an owner through to beneficiaries
- Keeps you on track
- Identifies your savings shortfalls
- Develops and monitors a strategy for debt reduction
- Is a wise sounding board for ideas you are considering.
- Is honest with you.