Financial Planning Week is an opportunity each year for the community to understand a little more about what a professional financial planner does, and what benefits they can provide. Here at Goldsborough, we have a 30-year history of providing quality advice, service and support to many thousands of clients over that journey. Many have been clients for well over 10 years for some of the reasons that recent research(1) conducted by the Financial Planning Association confirmed.
Financial Advice is not just about the dollars and cents!
It’s about your overall well-being. Australians with an active relationship with a financial planner are better off. They suffer less financial stress, enjoy a higher quality of life, more financial confidence and are more satisfied with their wealth. Almost 50% of respondents indicated that their mental health benefited from advice, and 40% indicated that financial advice benefited family and social life as well.
Financial Advice is about financial security!
85% of survey respondents indicated that they were very secure or reasonably secure as a result of their advice relationship, compared to 62% who were unadvised. More than 1 in 3 advised Australians are completely or very satisfied with their level of wealth compared to less than 1 in 5 who are not. And, 1 in 5 unadvised Australians worry about money daily while for advised, that proportion is closer to 1 in 10.
Some key benefits of Financial Advice:
- 47% of respondents indicated that they have greater confidence in having a comfortable retirement;
- 40% indicated that they improved financial well-being;
- 37% indicated that they had improved financial decision making;
- 33% indicted they had improved money management skills, improved general well-being and an improved ability to achieve their desired standard of living
Finally, the study concluded that anyone of any age would benefit from financial advice in the long run. Often there are triggers for this, including approaching retirement, health issues, coming into money, or simply a desire to have more control of money and grow wealth.
The team at Goldsborough Financial Services is here, willing and able to assist with your financial planning needs. We’ve got a great team, a long history of providing quality advice and the capacity to look after you.
(1) Research conducted by MyMavins in early September 2022