Good financial advice and the right financial planner can make a tremendous difference to your lifestyle, yet still the majority of Australians don’t have a financial planner. One reason may be the confusing jargon often associated with obtaining detailed financial advice.
This will hopefully help.
|Why seek financial advice?|
The most compelling reason to seek financial advice is to establish a plan to help you achieve your goals and protect yourself from life’s unexpected events. Knowing if you’re adequately insured is a start. People are often financially devastated by an uninsured loss.
Along with being adequately insured, you should consider the steps you need to take to maintain and improve your lifestyle by building wealth now and in the future.
One of the keys to achieving your longer term financial goals is determining as early as possible which strategies are right for you. After all, you shouldn’t be losing sleep worrying about money. A good financial planner will spend a lot of time getting to know you, your situation and what you want to achieve in life.
This is a very important consideration. Your ‘investor profile’ is a financial planning term, which goes to the heart of your attitude to risk. It’s about understanding how much risk you’re prepared to tolerate to achieve your goals.
Generally speaking, the higher the potential returns, the greater the risk. Your tolerance for risk may depend on your stage of life, your investment time-frame, your available funds and your investor profile. A financial planner can help you determine the right balance between risk and return - but only if you’re honest with yourself. If you’d be financially and emotionally devastated by a loss, then you’re better not to invest in areas where there’s a chance that you may lose money.
Technically, a financial plan is known as a ‘Statement of Advice’. This is simply the advice and strategies recommended to you by your financial planner. The financial planner will prepare the plan after learning as much as possible about your current situation and future goals whilst ensuring you’re comfortable to proceed.
Because every person is different, naturally every plan should be tailored to the individual.
As a basic rule, your plan should cover the following:
Make sure the financial planner can explain how the investments suit your risk profile.
|What to bring to your first meeting|
It’s in your interest to do some preparation before your first meeting with a financial planner. This will ensure the session is as productive as possible. Don’t be concerned if you can’t locate exact details of everything listed below, but the more you have the better.
Identity documents - there are several documents suitable for use as identification.
The Financial Planning Association of Australia can help you find a planner in your area.
|How we can help|
You could get some form of financial advice from just about anyone. But when it concerns the future wellbeing of you and your family, you need to choose someone you know you can trust.
ANZ Financial Planners are experts and fully qualified to help develop a strategy to suit your specific needs. They take the time to discuss your present circumstances, your goals for the future and eventual retirement plans to help deliver an appropriate solution. Your first appointment is complimentary and without obligation.
ANZ Financial Planners are representatives of Australia and New Zealand Banking Group Limited, ABN 11 005 357 522, the holder of an Australian Financial Services licence.
The information provided is general information only and does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you. Before making any decision to acquire, hold or sell any financial product, ANZ strongly recommends that you seek financial planning and/or tax advice and read ANZ’s Financial Services Guide (PDF 104kB), the relevant Product Disclosure Statement and/or Terms and Conditions. Terms and conditions are available on application. Fees and charges apply.
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