What’s the price of advice?

What’s the price of advice?

Financial advice is less about increasing a client’s wealth now and more about helping the individual; or family achieve the things that really matter to them.

The coming 25 years will be a transition as the Baby Boomers move to retirement. CoreData estimates $3.9 trillion of wealth to be transferred into the hands of younger generations. This wealth transfer is unprecedented in history. With the progress of technology and current landscape of the financial services market, “advice is less about increasing a clients wealth now and more about helping the individual or family achieve the things that really matter to them”, as said by Simon Hoyle in Septembers Professional Planner.

In a number of recent studies undertaken by CoreData it has been revealed that individuals who seek competent and professional financial advice and who act on it are healthier and happier with benefits of advice beyond financial issues. These include;

  1. A Comfortable Lifestyle

In case studies, a core goal was to maintain a desired level of spending and allowing for inflation, to ensure living standards do not drop. This was exceeded as clients enjoyed additional expenditure including holidays.

  1. More Superannuation

Through the implementation of curated advisor strategies, additional contributions were made to enable a tax-efficient superannuation resulting in healthier balances and more funds when needed.

  1. Optimised Allocation

Financial advisors provide value in optimising the allocation of assets by placing assets into more productive investments. Case studies proved clients to have more funds to spend on themselves and their families.

  1. Peace of Mind

With the assistance of advisors households are assured of a more protected financial situation even with unexpected events occurring allowing for a greater sense of security and less to worry about in life.

  1. Confidence

Individuals equipped with expert financial advice generally have more confidence to spend on their lifestyle and are more confident in their decisions.

  1. Reduced Stress

Research by CoreData found a lack of financial wellness creates huge emotional and social costs from lack of sleep to damaging relationships.

Want to know how we can support you or your family in doing and achieving what matters to you? Give us a call on (02) 9415 1511 or email us for your no obligation conversation.

 

COMMENTS

Leave a Reply

Your email address will not be published. Required fields are marked *

SIGN UP

For our free e-newsletter

TAKE A HEALTH CHECK

For our free e-newsletter

Personal