A financial advisor can help you with many services, including retirement planning, investment advice, and tax guidance to help you get the most out of your money. A financial advisor will work with you to create a tailored financial plan that enables you to achieve your goals and adapt the plan as needed in line with economic changes or changes to your circumstances. We have outlined the main services they offer below to help you decide if a financial advisor is necessary.
What services do financial advisors offer?
The services a financial advisor offers will vary depending on the financial advisor that you choose, but you can expect help with insurance planning and goal setting, helping you to create a tailored financial plan that allows you to achieve your financial goals. When working with a financial advisor, you can choose the right services for you and adjust these services as your needs change. Many financial advisors will have specific areas of interest where they are experts, and their services will be tailored to reflect this.
You can find a list of services that a financial advisor offers on their website, but typically, you can expect the following services:
High net worth investment
High net worth individual portfolios come with their challenges, and you must choose a financial advisor who can provide a dedicated service to help you. Each financial advisor has a different definition of high net worth individuals, so speak to them directly to see if their service is right for you.
A financial advisor will create a tailored strategy and financial plan to help you build wealth and review the plan to ensure it is adjusted to protect your investments when needed.
Investment advice
When creating an investment portfolio or looking to manage and grow an existing one, a financial advisor can help you navigate the world of investing and look for investment opportunities to help you achieve your goals. How the investment advice will look varies depending on your specific needs, but you can expect help with the following portfolios:
- Australian equities
- Cash
- Fixed interest
- International equities
- Property and infrastructure
Financial advisors will help you with different financial portfolio approaches, too, that will help you achieve your goals. Whether you want to grow your portfolio or protect your investments, there is an approach that can work for you, including:
- Defensive portfolio
- Conservative portfolio
- Diversified income portfolio
- Moderate portfolio
- Growth portfolio
- High-growth portfolio
Your financial advisor will walk you through the different approaches and which is best for your goals. They can also guide you about changing these approaches as the market changes or your circumstances change. For example, they can switch to a growth or a defensive approach when you want to protect your portfolio.
Pre-retirees
A pre-retirement service is essential to help you prepare for retirement. Before many retire, they move from accumulating wealth to distributing it, and the change can be stressful. Financial advisors can help with a tailored service for pre-retirees that allows you to plan for your upcoming retirement. The plans usually focus on helping you to protect current assets and build wealth to ensure you have a suitable nest egg for your retirement.
Retirement planning
Financial advisors can also help you plan for retirement, ensuring you have enough to enjoy a comfortable retirement. Planning for retirement is vital, but it can be tricky to do, especially if you have not invested or considered your savings before. Planning for your retirement looks different for everyone, but your financial advisor will work with you and discuss the following:
- Centrelink benefits planning
- Debt management
- Healthcare and aged care planning
- Insurance and risk management
- Investment strategy and advice
- Retirement income planning
- Retirement goal setting and cash flow management
- Superannuation advice
- Tax planning
Superannuation advice
Superannuation is essential to planning for your future, as it makes up most of many Australians’ retirement funds. Superannuation can be complex and challenging to understand, especially if you have not focused on growing your superannuation before. Financial advisors can help here, ensuring that your super fund can support you in your retirement, with services including:
- Contribution strategies
- Investment strategy advice
- Insurance with super
- Retirement planning
- Transition to retirement strategies
- Taxation planning
Wealth management
A financial advisor can also help with wealth management, helping you to ensure that your financial future is secure. They can help to manage your current assets and grow your wealth where needed. Wealth management services include a variety of services that can be used depending on your goals, including:
- Investment advice
- Personal insurance
- Retirement planning
- Superannuation advice
- Retirement planning
- Tax structuring
Find your financial advisor today
Financial advisors offer many services, making them a great option for many individuals. When choosing your financial advisor, it is important to ask what services they offer to ensure they are a right fit. Solace Financial offers many services, allowing you to manage wealth, prepare for retirement, and improve your investments. Contact Solace Financial to learn more about the services and how they can help you today.
