by Michael Corcoran
If you’ve never made an appointment with a Financial Adviser, you may not know about the vast array of services they offer to protect your financial security. As we celebrate Financial Planning Week, here are 5 ways a financial adviser can help you that you may not have thought of.
If you’ve never taken much notice of your superannuation when changing jobs, it’s possible that you have multiple super accounts accumulating fees and insurance premiums. A financial adviser can help you consolidate all these super accounts into one place, and select a super fund that best suits your needs. They can also help you work out any insurance that comes automatically with your fund, and cancel any unnecessary premiums.
2. Life insurance
If you’ve had a day off recently and watched some daytime TV, you’ll know that life insurance is a big deal right now. Life insurance can be extremely beneficial to your family in the event that you pass away. It gives your family piece of mind that money will be available to keep paying bills and keep food on the table in a time of grief. With so many providers and policies in the market, it can be hard to know which will cover you best, and offer the best premiums. That’s where a financial planner can look at your circumstances and recommend the best policies for your family.
3. Debt management
Believe it or not, there is such a thing as good debt. Good debt helps you create wealth and build your life, like a home loan. Good debt also creates equity, allowing you to look at investments and other wealth strategies.
Bad debt creates further debt by decreasing in value – think of credit cards, personal loans and car loans. Creating wealth starts with clearing bad debts, and getting you on the path to no debt or good debt. A financial adviser can help you budget to clear these debts sooner, and advise you on how good debt can actually grow your money in the long term.
4. Estate planning
In the event that you pass away, it’s important to leave a legally binding record of your intentions in a will. Without a will, the Government can decide how your estate – including funds, property and personal possessions – is divided. If you have an extensive investment or property portfolio, your financial adviser can be the best person to handle the planning of your estate. They can also provide tax effective solutions to your beneficiaries.
5. Self Managed Superannuation Funds
If you’re money savvy, you might like to take control of your own superannuation so you can choose your own investments. A financial adviser can help set you up, make you aware of all your legal and tax obligations, and provide ongoing support.
Think a financial adviser can help you? Infocus has a growing network of advisers around Australia – so there’s a good chance there’s one near you. Find your nearest adviser at www.infocus.com.au or phone 1300 463 628.
General Manager Salaried Advice