Making the right choices about your finances has never been more important. Working with an Infocus financial planner will help you to better understand your financial position so that together we can develop a financial plan that will meet your short, medium, and long term goals.

When you’re unwell, you go to a doctor. If you have a complex legal issue, you seek legal advice. If your home needs renovating, you talk to a builder. When it comes to handling your finances and planning for your financial future, ask yourself: should you do this alone?

The value of quality professional advice goes far beyond the dollars and cents.  It’s the peace of mind from knowing you are prepared for the future, and the clear sense of direction a qualified and experienced expert can provide.  

Value of Advice vs Cost*

A recent study commissioned by the Financial Planning Association (FPA) found that the benefits of good financial advice can far outweigh the cost.  Financial advisers can help people save money, protect against risk, manage debt, increase assets, reduce tax liabilities, plan for retirement, and identify entitlements for government benefits.

The study looked at the case histories of eight financial advice clients, all from diverse backgrounds, including a wealthy family, a retired nurse and a low-income family. In each case, the estimated financial benefit to the client was significantly more than the cost of the advice (see graph*) -the total estimated value for all eight cases was around $1.7 million.  

**Naturally, every case is different. Any value attributed to advice will vary over time due to many differences such as your personal situation, prevailing market conditions, income and expenditure patterns, time horizons, objectives and advice followed. Factors beyond your control could also influence outcomes. These case studies do not show the expected future value that could be achieved in your situation or any other case. Every case and situation will be different and the cost, value and benefit of financial advice actually achieved over time will be wide and varied.  

*Source: IQ, Knowledge Pays Dividends, Colonial First State.