Achieving goals is much easier when you have expert help. Whether your goals are to reach peak performance in sport or fitness, to lose weight, to improve your health or to develop your career, having someone on hand to guide you, motivate you and provide expert knowledge can make the difference between success and failure. When it comes to financial success, it is no different.
The role of a financial planner is to take a good look at your circumstances and help you develop strategies to reach your goals. There is a big difference between a financial planner and an investment adviser. An investment plan focuses on investment strategy and how to set up an investment portfolio. However, many people don’t require investment advice, with the exception of KiwiSaver advice, until later in life when their mortgage is paid off. A financial planner provides comprehensive advice not only on investment but all other areas related to managing money. This could include advice on how to develop a budget, how to set up your bank accounts to manage your money effectively, using insurance to manage risk, help with tax planning, retirement planning and estate planning.
Sometimes there are specific circumstances to consider, such as starting a family, buying a house, separating from a partner, receiving an inheritance or investing the proceeds of the sale of a property or business. In all these situations, a financial planner can provide options and strategies as well as specific advice.
Your relationship with your financial planner is one that can be long term to keep you on the right track towards achieving your goals. Working with a financial planner can give you peace of mind that your current and future financial situation is as secure as it can be and your financial risks are managed.