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How to know it’s time to seek financial advice

Changing rules around tax and superannuation are making quality financial advice more valuable than ever.

Due to the shortage of professional planners, advisers are having to do much more work, costing them more money, amid a heavy compliance load following the royal commission into financial services from 2017-2019.

Fees have increased, with many advisers charging between $3000 and $10000 for a full financial plan.

Despite the hefty price tag, advisers often save their clients thousands of dollars through advice on superannuation, tax investment and estate planning strategies.

You can find out if you need financial advice, book in a complimentary initial consultation, where our financial planner can explain the benefits, they can bring.

Planners typically advise on retirement strategies, investment, insurance, motivation, goals and budgeting and they keep on top of legislation changes.

A big part of a financial planner’s role is to help people identify what their goals are.

Gone are old commission-based-pricing models that led to conflict of interest among planners.  Financial planning today is fee-for-service.  You must be able to see the value for the advice you are paying for.

Planners can assist with the superannuation catch-up rules, introduced in 2018, rules around tax-deductible contributions, spouse contributions, super splitting, non-concessional contributions and government co-contributions.

The closer you are to retirement, the more likely you are going to require advice.  Contact our office on (03)9848 5933 or book in a complimentary initial consultation with our Financial Planner.

Source: Herald Sun Article – 15/02/2024

Lindale Insurances Pty Ltd ATF Lindale Insurances Trust ABN 27 027 421 832 is a Franchisee of Fiducian Financial Services Pty Ltd, Level 4, 1 York Street, Sydney NSW 2000. AFSL 231103 ABN 46 094 765 134.

The information (including taxation) provided on this website is general in nature and does not consider your individual circumstances or needs. Do not act until you seek professional advice and consider a Product Disclosure Statement.

Disclaimer: The views expressed in this publication are solely those of the author; they are not reflective or indicative of Fiducian. They cannot be reproduced in any form without the express written consent of the author.

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