Why do you need a financial advisor? By Jeff Kahn

Posted in Broker In Your Pocket on Sep 01, 2023

Many people only realise that they need a financial advisor late in life, something I discovered after 34 years in the financial services industry.

Not taking early advice can result in financial hardship down the line, especially as retirement approaches when it becomes difficult to generate or create an income from nothing. Choosing a financial advisor as soon as possible is therefore one of the most important decisions you will take.

Financial advisors are not sales people and avoiding consulting one on the grounds that they only want to sell you a policy or investment i short-sighted. A good financial advisor will design a personalised plan that exposes and protects areas of potential risk to your financial security (for example, illness or injury), and will create and/or grow your income and offer tax savings opportunities.

Parents should consider introducing their children to this vital service, making it part of their life in planning for future financial freedom. Finding a good financial advisor that you can trust and work with on a long-term strategy will ensure protection and management of your finances.

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