Reasons why you need a financial adviser

Understanding the Importance of a Financial Adviser

What Is a Financial Adviser?

A financial adviser is a professional who helps people manage their money and plan for their financial future. They provide personalised guidance on various aspects such as investments, savings, insurance, retirement planning, and budgeting. Continuously researching the market and staying informed about the latest opportunities and challenges, their goal is to help their clients make informed decisions to achieve their financial goals and secure their financial wellbeing.

Reasons Why You Should See a Financial Adviser

• Expert Guidance and Personalised Strategies: Financial advisers use their extensive knowledge to assess your unique situation, including income, expenses, assets and liabilities, and create strategies tailored to your goals and objectives. They can also guide you on how to get life insurance and provide personalised advice to maximise your financial potential.
• Holistic Financial Planning: Financial planning involves more than just investments. Advisers can help with retirement planning, insurance, tax effective strategies, estate planning and more, offering a comprehensive approach to your financial wellbeing.
• Objective Recommendations and Risk Management: Advisers provide unbiased recommendations and help manage investment risks, avoiding the pitfalls of emotional decision-making. They should ensure your portfolio is balanced and diversified.
• Timesaving and Convenience: Working with a financial adviser saves you time by handling investment research, market monitoring and portfolio reviews, allowing you to focus on other important aspects of life.
• Long-Term Relationship and Regular Reviews: Financial planning is an ongoing process. Advisers build long-term relationships and offer regular reviews to adapt your strategy to life changes like marriage, family, career shifts or retirement.

What Services Does a Financial Adviser Offer?

Financial advisers offer a range of services to clients, from giving reliable investment advice to helping achieve specific financial goals, such as saving for children’s education. Below is a list of the most common services they provide.

Life Insurance, Total & Permanent Disability Insurance, & Trauma Insurance:

• Life Insurance: Provides guidance on how to acquire insurance and what options are available to ensure your dependents receive financial support if you pass away, or you receive financial support if you are diagnosed with a terminal illness.
• Total & Permanent Disability Insurance: Offers solutions for financial support if you become unable to ever work again due to a total and permanent disability.
• Trauma Insurance: Helps you obtain coverage that pays a lump sum if you are diagnosed with a serious illness or injury.

Income Protection: Provides guidance on how to acquire insurance that can provide income assistance if you are unable to work due to illness or injury, helping to cover things like living expenses and health costs while you recover.

Debt Management; Home Loans, Personal Loans, Refinance:

• Home Loans: Advises on mortgages and home financing options.
• Personal Loans: Helps with borrowing for personal needs, such as buying a car or consolidating debt.
• Refinance: Assists in refinancing existing loans to potentially reduce interest rates or alter loan terms.

Budgeting & Cash Flow Management: Helps you create and maintain a budget to manage your income and expenses effectively, ensuring you have enough cash flow for your needs.

Investment Portfolios: Designs and manages a collection of investments (stocks, bonds, etc.) tailored to your financial goals and risk tolerance.

Superannuation Goal Setting & Planning: Assists in setting and achieving goals related to your superannuation (retirement savings) to ensure you have adequate funds for retirement.

Planning for Retirement: Develops strategies to save and invest for retirement, including determining how much you need to retire comfortably and how to achieve that target.

Estate Planning: Helps you plan how your assets will be distributed after your death, including creating wills, trusts, and other legal arrangements to manage your estate according to your wishes.

When Should You See a Financial Adviser?

If your financial situation changes, it's important to schedule an appointment with your adviser as soon as possible, even if your regular check-in isn’t due yet. Here are some examples of when you might need to see a financial adviser:

1. Buying/Selling a Home: Consult your adviser to review the financial implications, assess mortgage options and ensure your long-term financial plan remains on track.
2. Having a Family: Meet with your adviser to update your financial plan, including budgeting for new expenses, setting up education savings and how to get/update life insurance with adequate coverage.
3. Getting Married/Divorced: Schedule a meeting to adjust your financial plan to reflect changes in assets, income, and financial goals and address any legal and tax implications.
4. Death in the Family: Discuss with your adviser how the loss affects your financial situation, including inheritance, estate planning adjustments and managing any associated expenses.

Where to Find a Financial Adviser?

We believe in the power of good advice, especially when it comes to areas like investments and retirement planning. While we don't endorse any specific financial adviser, we believe that consulting with one can enhance your understanding and help you make informed decisions. If you don’t have a financial adviser, we can connect you with one near you. Find one now.

While care has been taken in preparing this content, MetLife Insurance Limited (ABN 75 004 274 882, AFSL 238096) (MetLife) does not warrant or represent that the information, opinions or conclusions contained in this information are accurate.  The information provided is general information only and is current as at the time of production. It has been prepared without taking into account your personal objectives, financial situation or needs and you should consider whether it is appropriate for you. It is not intended to be a substitute for professional advice and should not be relied upon as such. MetLife recommends that you obtain independent and specific advice from appropriate professionals before implementing a financial strategy, including reading any relevant product disclosure statements and/or terms and conditions. 

Before deciding whether to acquire, or continuing to hold, any of our products, please read the Product Disclosure Statement and Target Market Determination available at metlife.com.au. MetLife Protect is issued by MetLife and MetLife Protect Super is issued by Equity Trustees Superannuation Limited
(ABN 50 055 641 757, AFSL 229757) (ETSL).