When should I see a financial adviser?

A very common question is “when should I see a financial adviser?”  Almost equally as common is “how much money should I have before I need to see one?”

Our answer is simple – it’s never too early to see a financial adviser!

Some people, especially those who feel they have little by way of wealth or assets, may think it is too early to seek advice.  However, we are strongly of the view that this is the best time to seek advice.

We often see cases where people have taken investment decisions without advice, and have locked themselves into a position that was not necessarily the best option.

Of course, the obvious question people who have yet to start building their asset base will ask is, “how can I afford to see an adviser?”

Fortunately, we take a long-term view of our relationship with clients and future clients.  We don’t charge up front fees and we adopt a position of “growing with our clients”.  We believe firmly in long term relationships with clients rather than operating as a transactional business.

One of the critical factors for determining if it’s the right time to seek advice is if you are generating income and you don’t have a plan for managing your cashflow and budget.  That’s where we can help.  And you would be surprised how inexpensive it is to do this properly.

Cashflow and budgeting are critical.  It’s all about managing what you have rather than wishing for (or spending) what you don’t have!

If you are working, you will almost certainly have superannuation.  That’s one of the first places you should start in seeking advice.  Why? Because it is essential your superannuation match your individual risk profile (your personal tolerance for risk and volatility).  There are so many options now even within your default superannuation fund.  It’s important you take advantage of this, and to do so, you need advice.

Whilst we have clients that seek our advice on the investment of a large lump sum of money, many of our clients who started with us years ago, simply commenced their wealth creation by “siphoning off” a small percentage of what they earned each pay period and used it to build something significant for the future.

Another key discussion point which arises early in our conversation with a new clients is “what is your income replacement plan?”  What happens to your income if you can’t work?

Other triggers that indicate you should seek financial advice include changes to your circumstances.  Getting engaged, buying a home, taking on debt, starting your own business – if you are doing any of these, chances are you need a financial advisor.

Likewise, if you are going into, or already are in, business with another person, you definitely need to seek advice.

So, don’t be backwards in coming forwards.  It’s never too early to seek advice and our objective is to make the experience one that is very affordable for you.

We'd Love To Hear From You

Thinking about seeing a financial adviser and want to know a little bit more about what we do? Tell us a bit about yourself and we’d be happy to give you a call to see where we can help.