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10 benefits of seeing a Financial Advisor

2 September 2024
by BG Private
6-minute read

No matter your financial situation there are so many benefits to engaging the services of a Financial Advisor. Here are just 10 of them:

1. Personalised advice

Advisors prepare tailored financial plans based on your unique goals, risk tolerance and financial situation. They can also adapt plans if your circumstances change… like the birth of a child, buying a home, divorce, job loss or a health issue.

An Advisor will also work with you to prioritise competing goals, for example, saving for a holiday vs. saving for a home deposit or paying down debt vs. saving for retirement.

2. Deep expertise and knowledge

Financial Advisors are experts in topics like budgeting, cashflow, financial structures, insurance, investing and retirement planning. In addition, they keep abreast of the ever-changing regulatory environment, government entitlements, tax implications – and more! But most importantly, Advisors have unique insights from having worked with many people in a range of situations – some similar to yours.

Plus, while you may have just the one Advisor, behind the scenes at BG private our Advisors have more than 100 years of combined experience that your Advisor can leverage to your benefit.

3. Goal setting and accountability

It’s natural to find dealing with money matters stressful and overwhelming. Advisors help you set realistic financial goals and hold you accountable so you stay on track and achieve them. They can also help you navigate the twists and turns of your financial journey over time, helping you balance various financial choices and trade-offs as they arise.

It can be helpful to think of Advisors as financial coaches guiding you through life’s financial highs and lows.

4. Investment management

With a deep understanding of various investment options and financial markets, a Financial Advisor can manage your investment portfolio, balancing risks and returns according to your objectives and market conditions. They can provide you with confidence, ensuring you remain focused on your long-term strategy even in the face of market volatility and uncertainty.

5. A sounding board for your questions and ideas

Whether you’re wanting to start a business, reduce your work hours or make a significant financial gift to your children, a Financial Advisor can answer your questions and give you insights you may not have thought of yet. Over time, your Advisor will become a trusted source of guidance to help you make informed decisions.

6. Tax optimisation

At BG Private, our Financial Advisors can work together with our Accountants and Tax Advisors to provide tailored strategies to both minimise your tax liabilities and help you take advantage of any entitlements.

7. Day-to-day financial administration

Whether it’s completing forms for social security or an insurance claim, or help with opening a savings account, you can rely on your Advisor to assist you and reduce the associated stress.

8. Retirement planning

Advisors can assist in developing a comprehensive strategy prior to retirement to ensure you have the sufficient funds to enjoy your hard-earned golden years.

This planning is a culmination of monitoring market conditions, investment advice, maximising tax concessions available via superannuation, and assessing the relevant Age Pension entitlements and concessions. This planning happens while allowing room for flexibility should your plans happen to change.

Plus, as more and more retirees live longer, our advice extends to ensuring you have access to the best Aged Care services later in life.

9. Estate planning

A Financial Advisor can also help develop a strategy for the distribution of your assets according to your wishes to ensure your legacy is honoured and carried out effectively.

Advisors can work closely with your accountant and lawyer to establish a comprehensive plan, including strategies to protect assets, minimise taxes, and utilise the appropriate vehicles such as wills, trusts and life insurance.

10. Peace of mind

Knowing that you have an expert in your corner and that all aspects of your situation have been considered can reduce stress and uncertainty, allowing you to focus on other enjoyable aspects of your life.

As part of giving you peace of mind, at BG Private we also have insurance specialists who can put plans in place should the unexpected happen – ensuring you stay on track to achieving your goals.

Bonus: Financial advice just got cheaper

As part of new ATO rules, financial advice fees associated with tax-related advice may now be tax-deductible. Read more here.

Contact us!

No matter your life stage or personal situation you can benefit from seeing a Financial Advisor. Contact us to learn more.