The Role of Financial Advisers: When and Why to Seek Professional Help


Investing can be a challenging task. Most investors do not know where to start, how to diversify their investments, or even what their risk tolerance is. That’s where financial advisers come in. A financial adviser can help you make informed decisions about your investments, your finances, and your future.

But when is the right time to seek professional help? And why is it so important to invest in a financial adviser?

In this blog, we will explore the role of financial advisers, when and why to seek professional help, and how they can help you achieve your financial goals.


What is a financial adviser?

First and foremost, a financial adviser is a professional who provides guidance to individuals or businesses on investments, insurance, taxes, estate planning, retirement planning, and much more. They use their expertise to help their clients plan and manage their financial resources, to meet their long-term financial objectives. Depending on the type of adviser, they may work on a commission or fee-based model, but their goal is always to provide their clients with unbiased advice and help them make informed financial decisions that align with their goals.


When should you seek professional help?

The answer to this question is simple: when you don’t know what you’re doing, or you lack the knowledge, time, or expertise to manage your finances, it’s time to seek professional help.

For example, if you’re starting a new business, planning for retirement, managing a large inheritance, or going through a divorce, you may need the expertise of a financial adviser. Additionally, if you’re unsure about your risk tolerance, or how to allocate your investments, you may benefit from working with an adviser who can help you make informed decisions.


Why is it important to invest in a financial adviser?

The truth is, most investors don’t have the time or expertise to evaluate their investments or navigate complex financial situations. Moreover, many investors tend to make emotional decisions, which can lead to costly mistakes. A financial adviser serves as a sounding board for your financial decisions and helps you make informed decisions. They also provide tailored advice and recommendations based on your individual financial situation and goals. Moreover, a financial adviser can help you identify and mitigate potential risks and guide you towards achieving your long-term financial objectives.


What value do financial advisers bring?

A financial adviser brings a wealth of experience and knowledge, which can be invaluable to their clients. They can help you develop a financial plan, which includes your objectives, risk tolerance, and investment time horizon. They help you allocate your investments, which includes balancing your portfolio with different types of investments. They also monitor your investments, regularly rebalance, and adjust your portfolio based on changes in the market or economy. What’s more, a financial adviser can help you manage your taxes, plan for retirement, and navigate complex financial situations such as estate planning, divorce, or retirement.

The Financial Planning Association of Australia’s (FPA) inaugural Value of Advice (VoA) index, conducted by MYMAVINS, reveals that Australians with a financial planner enjoy greater financial well-being and an improved quality of life. Advised Australians, especially those with a Certified Financial Planner (CFP), report higher life satisfaction (73% vs. unadvised 64%), increased financial security (85% vs. 62%), and greater satisfaction with their wealth (35% vs. 18%). The study also finds double the confidence in having enough retirement funds for advised pre-retirees and early retirees. Two-thirds of early retirees with advice live a comfortable or lavish lifestyle (67% vs. unadvised 33%). Advised clients with a CFP professional benefit more, with 86% reporting the highest quality of life, the most financial confidence, and the greatest satisfaction with their wealth. Despite costs, advised individuals overwhelmingly believe the financial benefits outweigh expenses.


How to find the right financial adviser for you?

Finding the right financial adviser is crucial. The good news is that there are many qualified financial advisers out there. The key is to find someone who is a good fit for you and understands your long-term financial objectives. You may want to start by asking for referrals from family, friends, or colleagues. You can also check the CFP Board’s website to find Certified Financial Planners. Additionally, before hiring an adviser, you should interview them to understand their approach, fees, and the services they offer.


Investing in a financial adviser can be a wise investment. A financial adviser can help you achieve your long-term financial objectives, navigate complex financial situations, and make informed financial decisions. If you’re unsure about your risk tolerance or you lack the knowledge or expertise to manage your finances, it’s time to seek professional help. The key is to find the right financial adviser who understands your individual financial situation, goals, and objectives. With the help of a financial adviser, you can achieve financial peace of mind and confidently plan for your future.

If you would like to start building a secure financial future, please click here to organise a complimentary meeting with an EPG Wealth adviser.

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