May 25 – 31 is Financial Planning Week for 2009. To celebrate, we’re running a series this week about the value of receiving good financial advice. In today’s article we’ll look at understanding the value of advice and provide you with links to a range of resources.
Financial Planning Week (FP Week) is a national initiative of the Financial Planning Association (FPA). Now in its ninth consecutive year, this important week is a time when the FPA works towards building greater community awareness of the value of professional financial planning advice.
The Value of Advice
As a financial planner, I place great value on the financial advice I provide. In my career I’ve observed how sound financial advice can help people achieve their goals in life. I’ve also seen how good advice has protected people in times of adversity through the use of insurance and good estate planning strategies.
Financial planning advice is quite intangible. Sometimes the benefits of receiving good advice can be hard to quantify. For many people the non-financial benefits are quite valuable – being able to sleep at night and not having to worry about their money. Some see the benefits in freeing up their time by delegating their financial planning work to their financial planner – they’re not spending hours trying to trade shares and get rich quick, instead they’re spending time with their families doing things that they enjoy.
A good financial planner will spend time with you to make sure they understand the goals and dreams that are important to you. They’ll then help you understand the different strategies you can consider to help you achieve those goals. Once you embark on your journey, it’s not over! Through regular reviews you and your financial adviser can make sure you remain on track to achieve your goals, making any adjustments necessary along the way.
Some Financial Planning Resources
The FPA has produced a booklet about the value of advice. You can download it here. You can also find out more at the Good Advice website – an initiative of the FPA. Both the booklet and the website will provide examples of real financial advice that has provided measurable benefits to the recipients.
The Understanding Money website is a government initiative and provides a range of tools and resources. ASIC also have a web site called Fido which provides information to help you on your financial journey.
How to Find a Financial Planner
In tomorrow’s article we’ll look at how to find a financial planner and questions you should ask. To ensure you don’t miss an article, you can sign up here to have them delivered directly to your inbox. Alternatively, sign up for our e-newsletter and you’ll receive summaries of the blog articles plus regular email updates.
Impact Financial Coaching is a financial planning business in Adelaide, South Australia. We’d love to help you with your financial planning needs. You can contact us on 08 8364 0066 or send us an email to arrange a no obligation, complimentary first appointment.
Important information
This article contains financial product advice of a general nature only and is not intended to constitute personal advice. It does not take into account your particular investment objectives, financial situation or needs. While every effort has been made to ensure the accuracy of the information, it is not guaranteed. You should obtain professional advice before acting on the information contained in the publication.
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