'Demystify' advice, says financial educator
Financial advisers should make the services they offer more transparent so that clients can understand what value they bring, says financial educator Wealth Know How.
>Wealth Know How general manager Fiona Parker said a large portion of clients do not understand the basic value that financial advisers can offer.
“Consumers are telling us they want the role of planners demystified so they can better understand how even the basic problems and investment strategies will be addressed,” Ms Parker said.
“It is clear from recent research by the Financial Services Council that people who get financial advice get real value from it so it is important that it is made more accessible,” she said.
Ms Parker also said Wealth Know How’s ‘Why get financial advice’ video content series explains the role of a financial adviser and breaks down what services they can offer.
“The videos highlight how planners help you minimise tax, how you qualify for government benefits, deal with Centrelink or retirement transition as well as providing specific knowledge to deliver financial success,” Ms Parker said.
“Another good reason for getting good advice is that people with a financial plan in place are happier because they are much more likely to understand and be in control of their future.”
“Good financial advice can give you confidence that your future plans are achievable, and that can’t be underestimated in terms of freedom from worry,” she said.
Instreet Investment is the major shareholder in Wealth Know How.