Important factors to consider when choosing a financial planner & advisor

Financial Advice has developed tremendously over the last few years and the profession has expanded too much more than just the common idea of ‘budgeting’. So, what can you expect when you meet with a financial planner? Will you just get a new budget to stick by and advice about where to spend (or not spend) your money? And what exactly should you look for when choosing a financial planner?

Here at Lifelong Wealth we offer a range of services. Our financial advisors in Brisbane North can help you with not only wealth management, but also advise you on other important factors such as insurance (life cover, trauma cover, income protection), superannuationretirement planningaged care and so much more!

When you meet with a financial advisor here in North Brisbane, you should expect holistic advice. Although you might think you only need advice on one specific area of your finances, you would be surprised how many other factors correlate with that. For example, let’s say you would just like to have some more information about how to prepare well for your retirement by ensuring you’re doing everything you can in regards to your super.

Now although this is specific to superannuation, there are many things that will impact or could be impacted by changes in this area. You might need to alter your insurance, understand changes to your pension payments with Centrelink, and be wary of changes relating to your estate and beneficiaries. These are all areas that can affect this one change, and hence your adviser should provide you with holistic advice to ensure you are not putting yourself in jeopardy in another area.

So what services does Lifelong Wealth offer and how does this impact you?

Well as our name suggests, we focus on your lifelong financial decisions and wealth management. This includes superannuationretirement planninginsurance and much much more.

Many of our clients want to know how to prepare well for retirement by investing in their super wisely. We can provide advice on the ins and outs of salary sacrificing, the vast range of concessional and non-concessional contributions, and how to take advantage of other contributions such as spouse splitting, downsizer contribution and government co-contributions. These strategies can all affect your end retirement savings, and we can assist you in these areas to ensure you are using the correct tax effective strategies to maximise your retirement wealth.

We also have extensive experience in advice regarding retirement income and pensions. We can advise you not only about the Age Pension but also other allocated pensions. This includes seeing if you meet the assets and income tests, determining your post retirement income drawdowns, and how to stay on top of your underlying investments. We can also recommend products and providers who will best manage your investments, the associated costs, and recommend portfolio changes as the market moves.

If you’re comfortable as well, you can allow us access to your Centrelink where we can assist you to update information about your pension and assets/income tests.

Furthermore, here at Lifelong wealth we can advise on your personal insurance needs including income protection. This is not just something you should jump online for to find the cheapest product, but rather you can utilise the advice from your north Brisbane financial advisers who can discuss the important necessities regarding personal insurance. This includes an in depth needs approach (ensuring you are not over or under insured), discussing the differences between products and statements such as ‘any’ or ‘own’ occupation, decisions around whether to pay insurance inside or outside of super and the different tax implications.

We cover all aspects of personal insurance including life cover, TPD, Trauma cover and Income Protection. We try to make this process clear and easy to understand, by explaining the insurance ‘jargon’ and ensuring you have a thorough understanding of what you will and will not be covered for.

Our biggest focus here at Lifelong Wealth is retirement planning. As part of our service as financial advisors in Brisbane North, we will look at your current situation and discuss your retirement goals.

This is not just an aspect reserved for those approaching retirement, but something we think is very important for all our clients. We will provide projections for where you are currently heading towards and as well show you a comparison to our recommendations. We discuss with you whether you need to make any changes in order to reach your goals now, so that you are not left scrambling in the last few years leading up to retirement. This aspect of wealth management is something we love and retirement planning will ensure your future is being looked after.

These are our areas of focus, however we do provide advice on other areas of wealth management as well, so don’t hesitate to call us. We will provide you with holistic advice to ensure your decisions about a specific area does not negatively impact your other financial goals, show you projections for the future, discuss your retirement plans and advise you on how to best cover yourself for any unexpected situations.

Book an appointment with us today, or give us a call if you wanted to discuss these services further.