Common Questions About Financial Advice

Did you know that “financial adviser” and ‘financial planner” are restricted terms under the Corporations law? Only licensed persons may use these or any similar title which ASIC might consider to be like a word or expression.

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Very broadly, Financial Advice is concerned with having a strategy – that is a plan – to manage your financial affairs. A Financial Adviser makes an assessment of your Objectives, Situation and Needs and, in conjunction with you, develops goals for you to work with them together in achieving.

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“If you fail to plan, you are planning to fail” –
Benjamin Franklin

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Most people have a general plan about managing their money which is usually based on two things:

1. Managing their weekly/monthly budget and,
2. Mortgage repayments during their working life.

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Though we might think of this as quite respectable and responsible, it is quite a limited “plan” in many ways.

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A financial strategy prepared with a Financial Adviser is so much more than this.

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For those that have never sought advice from a Financial Adviser, (90% of Australians never have. Source: Roy Morgan Survey 2018), you may have some questions about what it is exactly that they can help with.

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Financial advice comprises 6 key areas:

1.    Budgeting, Cashflow, Debt repayment & Saving
2.    Insurances
3.    Investing
4.    Retirement income
5.    Estate Planning
6.    Aged Care

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Not all Financial Advisers offer advice on all of these 6 areas. Some Financial Advisers specialise in certain areas or a group of them for a particular purpose.

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At Emanuel Whybourne we specialise in Wealth Management, which is an advice service for affluent clients involving a custom financial strategy for each of them. We focus particularly on investment diversification, portfolio management and optimal asset ownership structures.

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Our bespoke advisory services addresses each of the following to help you financially secure your financial future:

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1. Investment management – including assessing diversification opportunities, investment proposal, investment implementation, ongoing portfolio monitoring, and investment review.
2. Partnerships with Leading Investment firms and Fund Managers – we deal directly with both Australian and global investment banking, private equity, and venture capital firms to source direct alternative asset solutions and generate market-leading long-term results for our clients.
3. Strategy – we get to know you at a personal level to understand your assets, liabilities, cash flows, and structures. We take the time to understand your goals and plans for the future, so we can provide a strategy that is truly personalised and will help you reach your goals. This financial advice can cover areas including superannuation (SMSF), retirement planning, succession, estate planning as well as limited tax structuring advice.

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Of all the professionals and families we work with, many of them have common questions about financial advice and what type of advice is right for them. We have created this post together to share some of the most commonly asked questions in the hope that they may be informative for you.

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What Are the Benefits of Getting Advice?

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The primary benefit is in the creation of a long-term financial strategy and reviewing/ adjusting that strategy when it is needed.

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In another of our articles, we likened the relationship an Adviser should have with clients to that which they should have with their GP – a relationship built on trust and respect.

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At Emanuel Whybourne, we are qualified investment professionals. Our team specialise in strategies for protecting and building wealth for high net worth individuals (HNWI), families, and professionals. We do this by analyzing the goals, risk tolerance, and current financial standing of clients in order to come up with a plan that’s most effective for their unique situation.

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Is It Too Early to Get Financial Advice?

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It’s a common misconception that younger people don’t need financial advice. In fact, it can be argued that the opposite is actually true. The younger you start developing a financial strategy, the better use you will make of your earnings and assets over your working life and beyond.

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How do Financial Advisers Get Paid?

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This usually depends upon the services you require and on the structure of their firm giving the advice.

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At Emanuel Whybourne, we pride ourselves on having complete transparency when it comes to the fees you will pay to either us or a third party. We are typically paid an advice fee which is a percentage of the funds that we manage.

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Our clients are our highest priority. Everything we do puts your needs first.

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Trusted Financial Advice Services in Sydney and Brisbane

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Your Financial Advice experience could differ greatly depending on the individual advisor.

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If you have more questions about financial advice or wealth management, it would be best to speak with a professional financial adviser.

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If you’re looking for a financial adviser in Sydney or Brisbane, then you’ve come to the right place. Here at Emanuel Whybourne, everything we do puts your needs first. Our team of experts offer bespoke investment and advisory services so you can achieve your financial goals.

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Contact us today to meet our team and learn more about how we can support you.

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