With the seemingly endless amount of information available on the web, there is a distinct sense of “I can do it myself” creeping into the human mentality. Whilst this might be true for certain tasks, like replacing an iPhone screen or baking a cake (although the results may not always be as intended ), your finances are one task which you should not attempt to D.I.Y. You should seriously consider taking financial guidance from an expert, like your trusted Adviser.
I use the word ‘expert’ sparingly; a topic Financial Adviser Gareth Daniels explored some time ago here , where Qualifications, Experience, Reputation, Detail and Availability were all postulated to be the fundamental facets of an exceptional Financial Adviser.
Even when you gain confidence in your ability to understand finance, or have sufficient time on your hands to thoroughly research your options, your Adviser should still be your robust foundation, and your voice of reason. Would a Cardiac Surgeon perform his own treatment? We all know a builder with a half-renovated house, right?
The Online Applications process and its reliance on ‘robots’ means that you can now obtain products at the touch of a button – need Life Insurance? Sure. Want a loan for a house? Easy. But what about impartial advice? Does the Policy meet your needs? Who exactly is guiding you through the Claims process in the event things do go wrong?
Finding an Adviser you trust is key to your financial success; a fee-for-advice relationship is a great way to ensure you’re getting advice in your interests and holds your Adviser accountable to adding value all the time. Good advice is worth paying for, or as Benjamin Franklin famously put it, ‘An investment in Knowledge pays the best dividends.’
Book a free appointment today with a Financial Planner at our Melbourne, Geelong, or Colac office.