Can a financial adviser help me with purchasing a home? Shouldn’t I wait until I’m old to seek financial advice? Does seeing an adviser restrict my ability to spend on leisure and weekends away? Trust us, we’ve heard it all before.
Understanding what the heck an adviser does can be incredibly confusing. And in light of the recent Banking Royal Commission, many of us are unsure and cautious about seeking professional help altogether. But to make the most of your hard-earned cash, speaking with a financial adviser who you trust can be a valuable way to boost your long-term wealth.
So, let’s debunk a few common misconceptions and uncover exactly what a financial adviser does.
The things a financial adviser can help with
So, you’re earning a decadent salary and have your sights set on making your money work as hard as you do. Whether you want to start a family, own a home in your dream suburb or guarantee an early retirement, a financial adviser can help you grow your wealth and make your long-term money goals a reality.
To help boost your wealth, financial advisers provide guidance on budgeting, investing, superannuation, estate planning, retirement planning, insurance, tax and more.
How expensive is it to work with a financial adviser?
Although the exact fees you’ll pay will depend on the adviser and arrangement you choose, financial advisers generally charge a combination of upfront and ongoing fees. These costs will be based on their level of service and amount of work completed and can include preparing financial advice strategies, making recommendations about financial products, reviewing your investment portfolio and more.
It’s important to discuss the costs of seeking financial advice with your financial adviser prior to commencing work to ensure you’re informed about the final amount.
What questions should I ask to find a good financial adviser?
When it comes to finding the right financial adviser, it’s important to find someone you can communicate open and honestly with. We recommend meeting with a few potential advisers to find the right fit for you. Some good questions to ask include:
- What are your qualifications?
- Who are you licensed through? Does that license have an affiliation with a large institution?
- Do you have any referral arrangements with any product providers?
- What is your investment philosophy?
- Do you charge a flat fee for ongoing services?
What we do and how we help at F&H
On a decadent wage, but have nothing to show for it? Overwhelmed by too many options, choices and decisions? Want an expert by your side to make your coin work as hard as you do? You’ve come to the right place.
At Fox & Hare, we work with the next generation to help them create clarity, take control of their money and further their adventure. We help our members create the life of their dreams, whether that means starting a family, investing in property, building a passive income or starting a business. We get to know you and your unique goals and figure out the best approach to help you achieve financial freedom.
- Create goal-driven strategies:we figure out what’s important to you and create a tailored roadmap to get you there.
- Speak your language: we skip corporate jargon and stick to clear, honest advice that you can actually understand.
- Ditch the confusion:we do the hard work for you by figuring out all your options and offer strategic recommendations to help you hit your goals.
- Put you in control: what’s the point in keeping all the financial know-how to ourselves? We empower our members with the skills and knowledge to make educated money decisions.
- Stop you from spending: want to travel every year or splurge on top-shelf booze? We help you do what you love and live the lifestyle you want.
- Get in bed with the big banks: we don’t have ties with big institutions, so we can scout out the best options on the market to suit your lifestyle and goals.
- Make you rich quick: sadly, there isn’t a secret scheme for overnight success. But we’ll map out a clear plan and coach you towards long-term wealth.
- Deliver a cookie-cutter approach: everyone is different, and so is the way we approach their finances.
Never used a financial adviser before? No worries! In fact, most of our members prior to joining F&H had never seen a financial adviser either. So, we have the tools to guide you through any questions or concerns you might have, every step of the way.
So, in practical terms, how do we help?
- SAVINGS: we help our members aster their cash flow, understand their buying habits and consider if they really align with their goals. We help with creating a strategy for how our members use their money, with today and tomorrow in mind.
- INVESTING: let’s face it, investing can be incredibly confusing. So, we help identify the best investment strategies for our members to make their money work as hard as they do. From a step-by-step guide to landing the keys to their first home to choosing socially and environmentally aware investment options, we guide you through the entire investment process.
- PLAN B: if 2020 has taught us anything, it’s that having a back-up plan is vital. So, we help our members plan for the unexpected, whether that be illness, injury or a change in circumstances.
- SUPER: saving for retirement might seem like a distant thought, but it’s important to consider how you’re going to ensure a comfortable (or even early) retirement. We’ll give you all the options and implement a strategy that’ll secure your golden egg.
- TAX: this one is unavoidable, but it can be reduced. We can help with that.
- DEBT: there’s nothing fun about maxed out credit cards and piles of overdue bills. We know it can be overwhelming, frustrating and mentally draining, so we help you understand where you’re at and work together to banish debt for good.
- ESTATE PLANNING: as much as we might not want to think about it, we need to have a plan for your assets if the unthinkable should occur. Because safeguarding the financial welfare of your loved ones with an estate plan is so important.