Why get financial advice? Financial planning needs to be demystified

The large majority of consumers simply do not understand the basic value that financial planners offer according to Wealth Know How’s General Manager Fiona Parker.

“Consumers are telling us they want the role of planners demystified so they can better understand how even the basic problems and investment strategies will be addressed.

Ms Parker said that Wealth Know How’s ‘Why get financial advice’ video content series, are designed to provide an accessible overview for consumers trying to understand the value of financial advice.

Wealth Know How is as an online resource helping people manage their wealth through financial education

“Managing finances and investments is often made to seem complicated  and we are increasingly finding that consumers of our videos are looking for a basic understanding of what is on offer with financial planners  before making that ‘first call’ to engage them.

“It is clear from recent research by the Financial Services Council that people who get financial advice get real value from it so it is important that it is made more accessible,’ said Ms Parker.

“Taking into account the cost of advice, an individual who has had financial advice generally saves $1,590 each year more than a similar individual without a financial adviser.”

“Our videos spell out in simple terms what financial advice really means to the regular investor.

“We set out to explain how financial planners can help consumers to create simple ways to better manage cash, offer complete investment strategies and how best to save for retirement.

“The videos highlight how planners help you minimise tax, how you qualify Government benefits, deal with Centrelink or retirement transition as well as providing specific knowledge to deliver financial success.”
“Another good reason for getting good advice is that people with a financial plan in place are happier because they are much more likely to understand and be in control of their future.”

“Good financial advice can give you confidence that your future plans are achievable, and that can’t be under-estimated in terms of freedom from worry.

“We have seen an increased interest in our easy to digest videos that cover a range of wealth creation topics, “said Ms Parker. “The average Australian faces complex pressures on their finances and so are interested in going back to the basics to learn more.”

Link to the financial advice video:

http://www.wealth-knowhow.com.au/videos/wealth-creation-why-get-financial-advice.