Jessica Shuwalow, Newcastle Financial Planning

Alarmingly, while the average Australian credit card debt is approximately $4,500 per card holder, less than a fifth (18%) of the Australian population actually receive professional financial advice!

So what does a financial planner (financial adviser) do? As you know, most things in life cost money. A financial planner is a qualified professional that helps you to identify your goals and through various life and monetary strategies and a sound personalised plan, they will support you to achieve your specific life goals.

Do I need a financial planner? There is a common belief that only people with lots of money use financial planners, however this is not the case. If anything, it’s those with less money that are quite often in more need of professional financial advice.

No matter what life stage you’re in, it’s most likely you can strongly benefit from good financial advice. A financial planner assists clients through all life stages from: debt management and budgeting, buying a property, employment changes and goals, family dreams and changes, wealth creation, starting or managing a business to superannuation and retirement planning.

Financial Health Check

How to choose a good financial planner? You can ask your friends and family to recommend someone or the internet is a good place to start, with google and other providers offering reviews and ratings. Next check the financial planner is licensed and their level of experience and expertise.

What does financial advice cost? Most financial planners will offer a complimentary initial meeting to determine what your current situation is and how they’re able to assist you, plus ensure you are comfortable with them. If it’s determined that you do require financial advice and you choose to proceed, a fee will be determined and if required the fee can be structured either upfront or as an indirect cost.

Financial Health Check

Disclaimer: This editorial provides general information only. Before making any financial or investment decisions, we recommend you consult a financial planner to take into account your particularly investment objectives, financial situation and individual needs. Charter Financial Planning and its authorised representatives do not accept any liability for any errors or omissions of information supplied in this editorial. Charter Financial Planning Limited ABN 35 002 976 294 AFSL Licence No. 234665. Principal Address 750 Collins Street GPO Box 2830AA Melbourne VIC 3000.

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