You probably won't need help with every personal financial choice you make in life. If you are educating yourself about money, staying informed about your superannuation fund, keeping track of your savings and investments… you are on the way to having a sound strategy and making sensible financial decisions.
However, professional advice makes a lot of sense when you are making major financial decisions in your life. Working with the right professionals will have advantages when:
Often more than one advisor is needed to properly work with you to determine and implement different finance and investment strategies that will make your financial goals a reality.
How to decide on the right advice for you?
Start by surrounding yourself with the right people. Choosing the right expert is an important decision especially. To get the right advice, you need a range of expertise. Do your research before choosing the right firm and spend time speaking with several wealth advisory firms to find the right fit for you.
Klear Picture advocates working with a team of advisers with different specialist fields. Our clients work with Financial Advisors, Fund Managers, Insurance Specialists and Accounting and Tax advisers at different points of their financial journey. So be sure the firm you engage has a cohesive team who can work towards your goals with you. When your advisory team works together, fees are also more affordable compared to dealing with multiple companies. This can also lead to conflicting advice.
Compare experience, specialisation, and knowledge and check their credentials. You’ll want people who will listen to you and explain things in a matter you understand. A good understanding of strategies or advice allows you to instruct your team on what to do. Think about a CEO of a company. An effective CEO clearly communicates a vision and oversees several departments to which he or she can confidently delegate business tasks to. You too need to be able to make confident decisions and rely on research, resources and guidance presented by your department heads. We’ll support you to be an effective CEO of your finances.
A productive relationship with your Advisory Team is a strong partnership that will deliver solid results over time. It is important to feel comfortable with who you are talking to and feel supported. It is after all a long-term relationship, so you want to be sure everyone works together towards a common goal… your goal.
At Klear Picture, planning your future begins with analysing your existing financial resources and identifying how they can help you achieve your financial goals sooner. In collaboration with you and the different experts, your team will help determine your desired results.
We can then work out a strategy on how to most effectively use your resources for your financial goals such as purchasing your first home, upgrading your existing home, starting a family, paying for your children’s education, changing careers, starting your own business, or ensuring a happy and comfortable retirement.
Professional knowledge of different financial techniques and an understanding of how to use financial products and investment instruments more effectively based on your financial position, can assist you with making savvy financial decisions. We can also introduce you to new financial concepts and instruments overtime as they become more relevant to your goals, and help you keep abreast of legislative changes that can impact plan.
Following good advice may seem to only improve your finances by a small margin initially. However, over a long-term period and with the benefit of compounding growth, these minor improvements will have a large overall impact. Good ongoing advice and reviews are pertinent to deliver a significant change to your wealth position over time.
The Cost of Financial Planning
A financial plan takes a good 20 hours to collect, analyse and process your data. Beyond that, further research is usually required. The cost for putting together a plan can range between $0 - $5,000 depending on how many entities are being analysed and the complexity of the scope of work.
To fully understand the benefits of Klear Picture’s non-traditional approach to Financial Planning, we offer complimentary 45-minute consultations with a member of our team who will meet with you to understand and assess your individual situation.
Through this process the consultant will be able to gather accurate information on your circumstances to discuss with the advisory team. The relevant advisors will highlight inefficiencies in your current finances and ways you can improve, as well as present the fees for the potential scope of advice and work involved. What surprised many before you were the cost to engage the team at Klear Picture. The fee in most cases were no different from what they previously paid for their traditional financial planner.
Summary
The right team of experts and advisers will change your life. Gone are the days where we can rely on a single financial planner, an accountant or mortgage broker. An Advisory Team will provide you a broader range of expertise necessary to design a holistic plan, so that you can do more of the things that are important to you.
Klear Picture is not only client centric in all they do, we also offer flat fees for our advisory services. We want everyone to be able to afford good ongoing advice. If you commit to ongoing reviews, we’ll help you stay on track.
Expect something different. Expect to succeed sooner with us.