Top 5 Benefits Of Seeing A Financial Advisor

Are you financially prepared?

When it comes to matters of money management, building wealth, and securing your future, the decisions you make today will impact your tomorrow.

That’s why coming up with an effective plan to help you fulfil your investment objectives is so important. Hiring a financial advisor can be the difference between maximising your wealth, and losing it.

For most people, money management is a learned skill. When you’re busy focusing on your career, it can help to have someone who will be able to help with your wealth.

There is a lot to learn when it comes to financial advisory services. It’s important to ensure that you are not making decisions that may damage your finances.

This is why it is important to hire a financial advisor.

Here are the top 5 benefits you can expect to get when you hire a financial advisor.

#1 – An Objective Voice

The lack of objectivity is the one mistake that can easily result in a reduction in performance of your investment portfolio, or even wipe it out.

When you let your financial decision be controlled by emotions, especially panic or worry, you can easily undo months and even years of hard work in a very short time.

The most important thing for professional traders in the market is being able to execute trades and maintain an objective view that is not based on emotions, and this approach should also be used when it comes to your own investments.

Hiring a professional financial advisor can help by providing objectivity. They will ensure that they provide you with informed and necessary advice while working with you in establishing positive and objective investment decisions, or in some cases, they can make the decisions on your behalf, since they can do it without involving any emotions.

This can be of great help when the market is looking a bit shaky. Choosing the right investment vehicle is key, but so is the timing of entry and exit.

#2 – A Full-time professional

A financial advisor works full-time and they are in a position to provide you with some of the training, knowledge, qualification, and experience that they have been able to get over the years, and this is something impossible or very hard for you to achieve on your own.

It is important to make sure you are informed about your investment, but this is something a financial advisor does full-time.

They start their training by getting a suitable university degree. They also have to do many industry training programs and qualifications. They keep up with the latest trends in the market to maintain the competency.

Some areas they have to keep up with include:

  • Markets

  • Taxation

  • investment opportunities

  • Law

On top of this, financial advisors usually have a lot of years or even decades working in the world of investment and financial management with other professionals.

The best financial advisor is the one recommended through word of mouth. It is very hard to place a value on experience and referral.

#3 – Taxation Advice

There is nothing worse than putting your money in an investment then realizing later taxation makes it less profitable than a less attractive investment vehicle that would have made you more money.

Taxation can easily wipe off any gains you had generated from a given investment, explain accounting experts Robinson. They say if great care is not taken while handling such investment, something that seemed perfect can result in a charge hurting your personal income, and it can come at the worst moment.

A financial advisor can help with such issues, and make sure that all the tax implications have been given a very close look before choosing the investment vehicle.

They also have methods of reducing your tax burden, because they will advise you on some of the latest changes in legislation that might be relevant to your situation, and also new investments that are going to offer you long-term gains and also tax efficiency.

#4 – Research

Since a financial advisor is doing such work full time, they tend to spend most of it on research. When there is a particular investment you are considering, they will do a lot of research so they can find the best opportunities.

If they don’t have the right answer immediately you ask the question, they are going to take their time and provide you with the right answer.

A good financial advisor is always doing research regularly because they are interested in maximising their knowledge of the industry, taxation, law, and markets – so you don’t have to. They usually work with other advisors, industry experts, analysts and this helps the advisor with their research.

#5 – Relaxation

One of the biggest benefits you are going to get when you hire a financial advisor is having the chance to relax. If you find the right financial advisor, you have the time to relax knowing that your investments are being taken care of by a professional. They take care of the challenges and questions you would have been forced to deal with.

Corporate meditation expert Jo Amor explains “you will find yourself having more time for yourself because you don’t have to spend every waking minute following the market closely. Relaxation for professionals is important in a physical sense, but equally important in a mental sense. Using a professional financial advisor can help with this.”

The financial advisor is going to do this work for you, and contact you any time they need to discuss something with you.

You can easily contact them if you have any concerns or questions, and they will give you the answers in a professional and timely manner.

Like to discuss anything more? Chat to the team from Super Factory to find out more

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