Everyone has questions, here are some common ones. If you have others, please contact us here. (We don’t bite, we love to help.)
Financial advice is helping people with segments of their financial lives. Some businesses may focus on certain areas or products only (investment, personal insurance, superannuation) while others may take a wider view of a person’s financial situation. Personal financial product advice requires an adviser to have a Financial Services License and provide the recommendations in a Statement of Advice document, which is supported by your personal information and research. We believe that while financial products may be a tool to reach your goals, understanding what your goals actually are, and ensuring that you take the required action to achieve them are the most important parts of the financial advice process.
Sure. There are many people that successfully manage their own financial lives without outside assistance. The same goes for doing your own taxes, servicing your own car or building your own house. I’m sure there are even people out there who are happy to pull their own teeth. We find that some people are wired to be savers, and others much prefer to be spenders. Some people find numbers, money and business easy and interesting, others definitely do not. We are here to help people to get the result they want, without needing to learn, perform and enjoy the work behind the scenes. To use a golf analogy, once you pick the course, we will carry the clubs, chase the ball and keep score, so that all you need to do is take each shot as best you can and drive the buggy to the next tee shot.
Financial advice is helping people with segments of their financial lives, but not all of these are about having money. Understanding income and spending, reducing tax, paying off debt, insuring yourself, having a Will, small business structures and Centrelink are all segments of financial advice that don’t involve investing money. We think that nearly everyone we meet could benefit in some way from getting financial advice, whether they earn a little or a lot, or have a little or a lot.
Our ideal business starting point is ‘let’s help everyone’, but that’s not viable. So we work with people that we like and want to work with us, where we can add value with our advice, both financial and non-financial. The cost to work with us will vary depending on time, complexity and risk, as well as value to you, and we can agree on advice costs after an initial meeting. People value things differently, and often compare costs against something else they know. In that context, your investment in your financial future will be more than a new set of tyres for your car, but less than it would cost for a real estate agent to sell your home. We expect that the work we do and the value we add to your life is worth at least as much as either of these common expenses.
We can do both, although people tend to benefit more if they have ongoing support and maintenance of their financial lives, just as they do if they visit the dentist regularly rather than just when they have pain. All of our fee agreements are for 12 months unless otherwise stated. If you’re in need of specific advice or financial clarity through our Smart Money program then after our initial work together it may be some time before you are ready for the next stage of your journey. Those people in the Active and Mature Money segments of their life and in sight of their financial horizon are more likely to need regular maintenance and planning advice.