The true value of financial advice

There’s plenty to consider when trying to secure your financial future. Should I pay off the mortgage or put money into super? And what about those renovations? When can I stop work? How do I afford the children’s education?

Good financial advice answers these questions by mapping out your goals and putting a strategy in place to achieve them. While these financial benefits of advice have long been established, can financial advice positively affect the more intangible aspects of our lives? What is the true value of advice?

Woman smiling while looking at laptop

The value of advice is more than money

The ‘True value of advice’ survey1 revealed people who receive ongoing financial planning advice experience:

  • 13 per cent greater levels of overall personal happiness
  • 21 per cent overall increase in peace of mind
  • 20 per cent increased feelings of security regarding their day to day finances
  • 19 per cent less likelihood to have arguments with loved ones.

While those that don’t receive financial advice were:

  • 22 per cent more likely to have their sleep disrupted due to money concerns
  • 15 per cent more likely to feel stress and anxiety.
  • 11 per cent more likely to feel concerned about their finances

An adviser provides the comfort and peace of mind of a well thought out plan. They can help you:

  • understand your current investment profile and attitude to risk
  • help identify your lifestyle goals and put a plan in place to achieve them
  • help you avoid expensive financial mistakes
  • set a plan to protect your assets and loved ones
  • ensure you’re ready for the retirement you deserve
  • assist with planning for the next generation

What’s more, as the survey suggests, advice can extend beyond measurable financial gains to improved relationships and personal happiness. That’s the true value of advice.

If you’re interested in seeking financial advice please contact the financial adviser available to you through your super account or contact us and we can help.

1 IOOF: The true value of advice survey (2015)