Why use a financial planner?

There are many reasons why someone may use a financial planner. One of the most common is that financial planning can be extremely complex, particularly when superannuation and tax issues arise. The legislation in this area is constantly changing and your planner is legally required to keep abreast of these changes.

Even if your situation is not that complex, very few people take the time to identify their goals, then develop an appropriate strategy to achieve those goals. For couples, goals may be quite different and a planner has a key role to play in counselling their clients through these issues.

There are certainly many people who are very capable of managing their own financial affairs. However, some do not have either the inclination or the time to do so. For someone in a senior position, they are often time poor and value their leisure time.

For those who enjoy managing their own money, guidance from a planner is likely to be extremely valuable in checking your strategies and direction. They should also be able to ensure you are working from the most up to date rules and regulations. However, engaging a planner on an ongoing basis may not be necessary or even appropriate.