Focused advice for your lifestyle
If you’ve never consulted a financial adviser before, you may be wondering about the benefits of a consultation?
What does a financial adviser do?
Despite the title, financial advisers do a lot more than advising people about their finances. A qualified financial adviser can look at all aspects of your lifestyle, including your short and long term goals. From this, they tailor a specific financial strategy they believe will help you reach those goals. This process may involve consideration of various factors such as your level of debt, superannuation, how wealth can be created and management of any risks.
All these things need to be considered irrespective of your age or income. The right balance between them can determine the best way to achieve your goals
Big Sky advisers focus on your requirements, developing a strategy that’s appropriate for you.
Who needs advice?
Contrary to what some may believe, advisers don’t just help people who are about to retire, or have recently done so. Nor do they exclusively deal with people on high incomes or wealthy investors. Advisers work with people at different stages of their lives to help them achieve their goals.
What kind of goals?
For a couple with a new family it could be about planning for their children’s education in a few years’ time. Or it might be working out how to best use the superannuation rules to their advantage, given one parent may not be working full time, or at all. As your needs change, your adviser can help you with setting up the right investment strategy to build wealth or to plan for retirement.
Specific areas of advice include Self Managed Super Funds, aged care planning, redundancy related matters and much more. To understand whether you require advice from a qualified professional, take this 5 minute financial health check.
The advice process
Your initial consultation with a Big Sky adviser is an obligation-free discussion
Your initial consultation with a financial adviser will be about getting to know you and your partner (if you have one). The adviser will discuss your current lifestyle and overall financial situation.
They will also talk to you about your future plans – if you have any – both short-term and long term.
In discussing your current situation, your adviser will ask you about things like:
- Debts and loans;
- Insurance cover;
- Income and expenses;
- Assets and investments, including any superannuation; and
- Estate planning
Statement of advice
Once you’ve decided to go ahead with getting advice from a Big Sky adviser, they will prepare and present a Statement of Advice to you. This is a detailed document that outlines, among other things, your overall situation, your goals, the recommended strategy and associated costs. This strategic document forms the basis of any investment or other recommendations.
The cost for the preparation of the Statement of Advice is quoted to you upfront and your authority is obtained prior to any work being completed.
As we move through life our goals often change. This is also true of government legislation, economic conditions (both domestically and abroad), interest rates and many other things that can affect our financial situation. To stay on top of this it’s important to keep in touch with your financial adviser, at least once a year. This gives them the opportunity to check how you’re going, while also reviewing your financial strategy if required.