The Intangible Benefits of Strategic Financial Planning Advice

Sometimes the value that we provide as financial planners is tangible - we can specifically point to some tax savings that have been made, some social security that has been gained or some investments that have delivered gains.

Often the value can be intangible. Our clients often tell us that the following intangible benefits are the ones they value the most from our relationship.

Organisation

• We will help bring order to your financial life by assisting you in getting your financial house in order (at both the “macro” level of investments, insurance, estate planning, taxes, etc., and the “micro” level of household cash flow).

Accountability

• We help you follow through on financial commitments, by working with you to prioritize your goals, show you the steps you need to take, and regularly review your progress towards achieving them.

Objectivity

• We bring insight from the outside to help you to avoid emotionally driven decisions in important money matters, by being available to consult with you at key moments of decision-making, whilst doing the research necessary to ensure you have all the information. Strategically we are working in your best interests.

Proactivity

• We work with you to anticipate your life transitions and to ensure you are financially prepared for them, by regularly assessing any potential life transitions that might be coming and creating the action plan necessary to address and manage them ahead of time.

Education

• We explore what specific knowledge will be needed to succeed in your situation, by first thoroughly understanding your situation, then providing the necessary resources to facilitate these decisions, whilst explaining the options and risks associated with each choice.

Partnership

• We attempt to help you achieve the best life possible whilst working alongside you, not just for you, to make this possible, by taking the time to clearly understand your background, philosophy, needs and objectives and offer transparency around our professional fees, costs, and compensation.

Clarity

• The goal of the financial planning process is for advisers to understand what you hope to achieve. What are your current goals/priorities in your life and how can we help achieve them?

• With that in mind, through this process, the adviser helps bring clarity to your situation. Often, clients of financial advisers rarely talk about money outside of the confines of the relationship with their adviser. At least prior to working with the adviser.

• Without talking openly about your finances, how can you have clarity around which actions need to be taken to make progress towards savings, debt payoff, or investment goals? Having a place to openly discuss finances without judgment provides you clarity about the path forward.

Peace of Mind

• Another intangible benefit of working with a financial adviser is peace of mind. While the previous points all play into achieving peace of mind with personal finances, the end goal as a financial adviser is to help you achieve this peace of mind. This is developed through trust, learning, accountability, clarity, and of course, the technical aspects of financial planning and investment management that an adviser helps tie into a completed financial plan for you.

• Over time, having peace of mind around your finances is the ultimate goal. Knowing that you’re making progress towards paying off debt, investing enough for financial independence, saving enough for your child’s education expenses, and STILL having funds available to enjoy your life today is an amazing achievement.

• Having peace of mind enables you to enjoy life without having to stress constantly about whether you’re making progress towards your financial goals.

The Bottom Line

It’s not always easy defining the intangible benefits of working with a financial adviser, however, they certainly become clear once you’ve gone through the financial planning process. Financial planning is very much a tangible, numbers-oriented profession, and service. Yet, the greatest benefit our clients receive is, emotional, behavioural, and intangible, in the sense a rate of return can’t be applied to it.

How we help

• No matter what your super structure is, we can help you maximise your growth to support your future income needs. We understand the complexities of Self-Managed Superfunds and are across the intricacies of most Industry Funds, including GESB Super

• Get retirement ready. We prefer that you consult with us at least 10 years before retirement so that we can have a plan in place to support your income needs at retirement.

• We help you switch from accumulation to pension phase with ease, and optimise all the options to maximise super, including downsizer contributions, for example

What we do

• Superannuation

  • Investment risk tolerance assessment

  • Review investments

  • Rebalance investments

• Self-Managed Superannuation Fund

  • Review Trust Deed

  • Review Investment Strategy Document

• Transition to Retirement Strategies

• Retirement Income Planning

  • Assess how much income will be available at retirement

  • Pension strategies

  • Annuity Strategies

• Social Security Advice

  • Centrelink

  • Department of Veteran’s Affairs (DVA)