Why do you need a Financial Adviser?

This question has arisen quite frequently over recent months, whether in general conversation with friends, at the office, on weekends or even at the pub. It seems to be a rather hot topic at present.

However, to be more accurate, it comes across as more of a statement than question and sounds along the lines of “I don’t need a financial adviser because…”.

Experience has shown that not too many people successfully navigate life without receiving some aspect of financial advice.

Unless you are someone that:

enjoys paying more tax than necessary;
understands superannuation and how to maximise entitlements;
understands the risks associated when chasing higher returns;
has no real plans for next week, next year or beyond;
believes retirement is too far away;
aims to rely solely on the Government funded Aged Pension (assuming that it remains in its current format);
understands the social security system and how it can help;
believes in leaving debt with loved ones in the event of accident, illness or death; or
remains happy to leave decisions concerning your children and finances to the government.

If this sounds familiar to you then there is little reason to read on, as unfortunately we seem unable to assist you in this instance.

The majority of us however, will require some form of structured advice throughout life in order to better our situation.

The financial planning industry has matured greatly over the last 10 years, with massive progress made, though as a profession we have yet to reach full maturity.

Nonetheless, with maturity comes responsibility; the responsibility to understand a client’s needs, to simplify their situation, to provide greater structure and greater certainty in life. Basically, to assist a client to achieve in life what really matters to them…what ever that may be, as priorities vary from client to client.

At Baker Affleck Financial Solutions our aim has always been to achieve better outcomes for our clients. We are not product driven nor do we focus on commission based investments, in fact quite the opposite. We operate a predominately fee for service business that invoices on complexity, improved client outcomes and value add, not as a percentage of your investment. We aim for complete transparency and as such any associated costs are communicated to you prior to implementation.

In conjunction with your accountant, our experienced team address your position as though it were their own. We do not adopt a set and forget strategy, as rarely does one size fit all.

Life flows in many directions and has the tendency to throw the occasional hurdle in for good measure. Circumstances, priorities and objectives may all evolve over time. As such it remains imperative that your financial position and structure accurately reflect your requirements at each and every stage in life.

In summary, a more appropriate question may be, “…you mean that you don’t have a Financial Adviser?”