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Why Should You Work with a Financial Investment Advisor

A comfortable and secure future is something you should work on as early as possible. When it comes to your finances, there are two areas you should seek advice on: financial planning and wealth management. If you are unsure how to approach this, the safest way to do so is through working with a financial advisor.

Learn more about these two areas and the benefits of a financial consultant when you keep reading.

The Circle of Financial Advice

There are a few ways you can go about getting financial advice. The most common one is to go directly to a financial advisor. Financial advisors are professional individuals who are well-versed in investments and educate the public on how to manage their finances.

Here are the two key ways you can seek support from a financial advisor:

1. Financial Planning

Financial planning is a process, or more precisely, thinking about money. It includes, but is not limited to, creating a budget, allocating money for various purposes like education, retirement, and spending and creating savings for emergencies.

You start financial planning by assessing your current financial status, defining your desired outcomes and exploring the options you have to get there. Once everything is complete, you have a financial plan. It serves as a living document, which you can change depending on your life’s circumstances.

It also involves creating a budget and comparing it with your actual spending at the end of the month. A financial advisor can help you in this process and ensure you are on the right track.

2. Wealth Management

The term wealth management is used to describe creating and managing assets to grow them so that it provides you and your family with a comfortable life. It is similar to financial planning but is more centred around investing money.

For example, your financial advisor can help you in such aspects as appraising your assets, building a good investment portfolio and choosing between different investment options.

The Cost of Working with a Financial Advisor

Just like any other product or service, the cost of financial advice has three main aspects:

1. Fees

Financial advisors typically charge an hourly rate or take a percentage of your assets under their management.

2. Benchmark

When you hire a financial advisor, you expect that they will provide you with better service than if you had invested time and money on your own. They are also likely to give better results than the benchmark.

3. Quality of Advice

The quality of the advice is yet another factor. You wouldn't want to hire an advisor that doesn't prove beneficial to your situation.

When selecting a financial advisor, you must consider all these considerations.

Final Thoughts

Learning how to handle your money and make sound investments is something you should start early and continue your entire life. Being clear about your financial goals by seeking financial advice is the first step to getting started.

If you’re looking for a financial investment adviser on the Gold Coast, Swell Financial Planning is perfect for you. We are passionate about helping people reach their financial goals—from building wealth and investments to planning retirement. Contact us today, and let’s discuss your financial goals.


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