David Morey 
Financial planners offer a variety of services, helping you to grow and manage investments or prepare for your retirement. Join us as we take a closer look at each service you can utilise from a financial planner.
What Is A Financial Planner?
Financial planners help you manage your money and offer advice to help you achieve your financial goals. A financial planner will work with you to create a tailored financial plan and update it regularly in line with changes to the economy, stock market, or tax rules. A financial planner’s role can be quite varied, but you can expect them to help with the following:
- Insurance planning – to help you understand how much insurance you need
- Investment advice – to ensure that your money goes further and is protected when it is invested
- Financial analysis – to assess your financial health and offer support on how to improve this
- Goal setting – to help you find your short-term and long-term financial goals, including buying a home or saving for retirement
- Tax optimisation – to help you maximize deductions, manage your investments wisely, and learn about the tax implications of your financial decisions
Many financial planners will have certification from the Certified Financial Planner Board of Standards (CFP board), so you can be assured of your skills and knowledge. Financial planners with ‘CFP’ listed in their credentials will have this certification. Many financial planners will return to education for a master’s in financial planning or another specialised financial management course. You can find financial planners working for a company of planners, or contractually on a self-employed basis.
What Services Does A Financial Planner Offer?
Financial planners offer various services, offering you support through retirement, wealth management, and more. You might find that some financial planners offer one or two services, whereas companies like Solace Financial will have several experts on their books, who can offer a variety of services. Let’s take a look at these services now.
Pre-Retirees
Retirement is a huge transition for many people, emotionally and financially, as you focus more on distributing wealth rather than accumulating it. It can be a stressful time to consider, even if retirement is a little while away from you. It’s why many financial planners will offer services tailored for pre-retires to help them prepare for their upcoming retirement.
Most retirees will rely on a super fund, pensions, personal savings, and government benefits to fund their retirement, but with the help of financial planners, you can explore other options, like investments. A financial planner will create a tailored strategy for pre-retirees, take action, and help to build wealth, giving you an impressive nest for your retirement.
High Net Worth Investment
High net worth individuals’ portfolios come with their own set of challenges, which is why financial planners will have a dedicated service to help you manage any high net worth investments. The definition of high net worth can vary depending on the economy and each financial planner, so we recommend reaching out to financial planners to see if you will be considered as a high net worth individual to determine which service is right for you.
When working with high net worth individuals, financial planners will create a tailored strategy and financial plan, take action to build your wealth, and ensure they regularly review the plan and make adjustments where needed to protect your investments.
Investment Advice
If you have or are looking to create an investment portfolio, you will want to seek investment advice from financial planners. When you employ a financial planner in this service, you can expect them to offer financial advice, help you navigate investing, and look at plenty of investment opportunities to help you achieve your goals.
Financial planners can help with the following types of portfolios:
- Australian equities
- Cash
- Fixed interest
- International equities
- Property and infrastructure
You can expect several different portfolio approaches, too, which you can discuss with your financial planner to help you find the perfect option:
- Defensive portfolio
- Conservative portfolio
- Diversified income portfolio
- Moderate portfolio
- growth portfolio
- High growth portfolio
Retirement Planning
Planning for retirement is essential for everyone, with many people turning to financial planners for advice. A financial planner can help you set retirement goals and create a tailored plan to achieve them. Retirement planning will look different for everyone, but you can expect your financial planner to discuss some of the following with you:
- 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 a vital part of planning for your future, responsible for the majority of many people’s retirement funds. However, it is complex and can be tricky to understand and learn how to improve your savings balance. A financial planner can help here by looking at the following areas:
- Contribution strategies
- Investment strategy advice
- Insurance with super
- Retirement planning
- Transition to retirement strategies
- Taxation planning
Wealth Management
Financial planners can also help with wealth management, helping you to manage your assets, and ensure that your financial future is secure.
Financial advisers can also help you grow your wealth, helping you to prepare for your future. Wealth management services are quite varied, but you can expect them to use some of the following:
- Investment advice
- Personal insurance
- Retirement planning
- Superannuation advice
- Retirement planning
- Tax structuring
Find Your Financial Planner Today
Whether you want a financial planner to help you create new goals, enhance your investment portfolio, or help you prepare for retirement, there is a service they can offer you! Why not contact a financial planner today to see how they can help you?
