There is a wealth of information out there about how to start investing, what money you should be putting aside for the future and how to get into or out of debt. But sometimes all this information can be overwhelming and it’s all ‘general’ advice so we never know if it suits our situation or if it’s what we should be doing. Thankfully there are experts in many areas of wealth creation that can provide professional advice tailored to your personal circumstance.
We thought we would share below the type of services various finance professionals can provide (to iron out some of the confusion):
Financial Planners – put together a personalised financial plan, tailored to your situation. The plan will take into account your goals, budgeting, investing, risk and debt management.
Accountants – ensure your affairs are structured in an effective way and you are receiving the maximum taxation benefit from employment arrangements, investments and in business.
Finance/Mortgage Brokers – are the link or mediator between you and bank. They determine your borrowing needs and ability, provide you with the financing options, and facilitate the application process from start to finish with the Bank on your behalf.
Solicitors – assist in estate planning, including documentation of a Will; they can also provide advice in relation to asset protection through the correct structuring of investments; they also perform conveyancing services to facilitate the purchase of property.
Personal Insurance Brokers – assess a person’s risk profile and manage the risk through various personal insurances including Life, Income Protection and Trauma Insurance.
Of course this list is not exhaustive, but a good starting point if you need some personal advice.