The intangible value of a financial adviser

Are you someone that tends to worry about finances? Do you feel comfortable in making the right choices when it comes to your wealth? Given the current climate and what’s happening across the country, people deserve the right to access quality financial advice. According to a report undertaken by Choosi, 55 per cent of Australians feel anxious about their financial future and 25 per cent of us tend to worry about money on a daily basis. And, this extends to wealthy Australians as well. Fidelity explains, “more than a third of Australians who have more than $1m of assets to invest still worry at least monthly”. 

Being a financial adviser, I can assure you that it’s perfectly normal to think like this from time-to-time. The economic climate, the precarious property market, and even global events – like the Coronavirus – can lead to us worrying about our wealth and financial future. And, according to Fidelity, whilst 56 per cent of us worry about money at least monthly, the number jumps to 70 per cent to those who don’t seek and receive professional financial advice.

When your financial wellbeing is in check, then your mental wellbeing is likely in check too. As you can imagine, if you’re feeling positive about your financial situation, then this will manifest itself into other aspects of your life. Working with a financial adviser gives you the opportunity to look at your situation objectively and see things from a different perspective. But it’s important you choose to work with the right one, something I’ve talked about previously. Yes, we’ll help you organise your money matters, get your ducks in a row and provide you with the right advice when it comes to your retirement plans and investments, but there’s also the intangible value (which isn’t talked about as much) you’ll receive when working with a financial adviser. And, that’s something I want to share with you.

Peace of mind

How much better do you feel when you get something off your chest? It’s like a pressure has been lifted – it’s much the same working with an adviser. You’ll be able to talk about your finances, discuss your goals and work out what’s achievable. Studies show that “investor satisfaction in the advisory relationship tends to come from personal attention rather than from actual financial returns”. Often just having someone there, keeping you accountable and fighting your corner can provide a sense of peace. According to Fidelity’s ‘Value of Advice’ report, 88.5 per cent of Australians receiving advice believe it has given them greater peace of mind financially.

Control and confidence

We’re human beings and we like being in control. Feeling in control comes from a sense of understanding and clarity. Take contracts for example – there’s nothing worse than being presented with a long-winded document full of legal jargon that you don’t understand. The same applies to financial planning. It’s important to note that working with a financial adviser is an educational process and with education, comes confidence. You’ll start to understand how to make your money work, learn about the right way to invest as well as pick up a variety of financially focused tips and tricks that you can apply for the rest of your life.  

A lifestyle worth living

Imagine comfortably knowing that you’re making progress towards your retirement plans, saving enough for your second investment property and still enjoying a lifestyle that suits you? A financial adviser will be able to provide you with the right guidance to achieve this. There’s a misconception that lifestyle sacrifices need to be made when engaging a financial adviser and that all we focus on is cutting back, being frugal and budgeting like crazy. But this is simply not the case. When you sit down with a financial adviser, they’ll work out your priorities in life and what matters most. Yes, there’s some shifting around of things, but you might be surprised that you can still go on that holiday you’ve been planning or dine out at your favourite haunt on a regular basis.   

Kicking goals

As a financial adviser, this is what gives me the most joy. Seeing clients achieve their goals – both financial and personal. All of our clients are all working towards something, a wide array of goals based on their own lives and dreams. The commonality is that to achieve them they all require a plan, preparations to be made and adjustment and changes in how they go about their day-to-day. But ultimately the joy and satisfaction they experience make them all say that it was totally worth it and that often they couldn’t have achieved what they had without our help.

You can gain so much more than financial advice

As you can see, there’s a number of benefits to working with a financial adviser – even psychological and educational. If you’re ready to improve your lifestyle, feel more secure or even just start to prepare for the future, then it might be the right time to consider financial planning. For us, the ultimate goal is seeing our clients achieve financial freedom. After all, that’s why we do what we do.

the exit blueprint

The complete guide to getting clear on what you want from your money, where to start and how to exit earlier and on your terms.

Contact Info

100 Walker Street
North Sydney, NSW, 2060
Phone: 02 9906 1125

Talem Wealth
ABN 89 074 122 428

Talem Wealth is an Authorised Representative of Walker Lane Pty Ltd.
ABN 706 2619 9826
AFSL #509305

Let's Connect