June 29, 2022 Julie Hyslop

The many elements of financial advice

Cropped shot of businessman greeting a young professional around the table in office. Close up of business people shaking hands in office.

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The Financial Advisors at Income Solutions are highly skilled and qualified professionals requiring a degree and major in financial planning, who assist our clients in achieving and working towards a secure future. The studies required ensure that our Advisors have the right set of skills to best provide our clients with a plan that reflects their unique circumstances and goals. However, over the 30 years of operating we know that while qualifications and skills are important, the partnership forged with our clients has many elements beyond simply providing facts and figures.

We have witnessed first hand that by making a person’s financial situation better, almost always has an impact of improving mental health too. Some examples of this are included in the attached Australian Unity Retrospective Australian Unity marks 20 years in financial advice _ an interview with Ross Johnston
this outlines someone who is being bullied at work, and their financial Advisor was able to improve their situation by letting them know they were in the position to retire early or take time off to find another job, this knowledge was able to dissolve the power that the bully had over them.

Also, when supporting clients who have had a death in the family, our Advisors are comprehensively aware of their financial situation and objectives. Clients who are grieving and emotionally vulnerable may find it difficult to think with clarity regarding complicated financial matters. This is especially important even with the support of family and friends, who often provide well-meaning but conflicting advice to ‘get it done’ or ‘move on’, making the advice of a qualified and experienced financial professional, that they have an established financial partnership with invaluable.

Another example of the many elements to the role of a financial advisor is when clients are going through a divorce, and we strive to assist clients in maintaining their lifestyle and strengthening their wealth and long-term financial position.

At Income Solutions our process not only updates and reviews individual financial plans that reflect our client’s needs and objectives, but we also work hard to ensure that people are comfortable with the risk profile of their investments. This ensures that the mental health of our clients is not subject to continuing external fluctuations of financial markets.

It is a privilege to offer financial advice to our clients through a variety of life stages and situations, many of our clients have even become friends. In the Income Solutions document titled ‘The True Value of our Relationship’ e-book the true value of our relationship we can see that the elements and benefits of financial advice are multi-faceted, and move through life stages both joyful and difficult.

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