The Impact a Financial Consultant can have on your Personal Finances

Financial consultants assist you to develop a financial plan that meets your individual goals, identifies and manages risk, and helps you to make informed investment decisions. These professionals can have a significant impact on your personal finances – electing to work with one can improve your financial well-being and help you achieve your financial goals, needs, and wants more easily.

In this article, our financial professionals at Efficient Wealth will explore the insights that financial consultants can bring to the table and how they can guide you out of the red and into a successful financial future.

7 Ways Financial Consultants Can Provide You with Financial Guidance

 While you may be feeling despondent about your financial situation, know that, regardless of your age or current financial position, working with financial consultants can help you improve your finances and reach your goals and aspirations. Here’s how they can assist you:

 

1. Debt Management: Irresponsible spending habits might put you in a precarious financial position. Financial consultants can help you create a plan to pay off debt and teach you how to avoid debt in the future. They will also assist you in negotiating with creditors and lowering interest rates on repayments.
2. Creating a Budget: Once you have spending and debt under control, these professionals can assist in creating a budget that makes sense to you and helps you track your spending. They can guide you on how to save money, which can be better utilised investing in your future.
3. Investment Guidance: With some money saved up, you must avoid the temptation to overspend. Allow your consultant to develop a future investment strategy for you – one that integrates with your goals, is in line with your risk tolerance, and rewards you at the right intervals.
4. Healthcare and Insurance: Now that you have built a nest egg, you would not want to lose it. Your financial professional will be able to offer protection for you and your family, through the short, mid, and long term, with insurance cover that fits your predetermined budget.
5. Savings Plans and Unexpected Surprises: At this stage, you might want to invest in property or save for your children’s education. There might even be the unexpected pitter-patter of little feet, or other curve balls that life might throw at you. With careful planning, life’s eventualities need not become crises.
6. Retirement Planning and Tax: You do not want to work all your life and certainly do not want to be taxed to death. Prepare for your future and seek tax-efficient investments through your financial consultant. Ensure that they are independent and can offer an array of objective options.
7. Estate Planning: When the inevitable day arrives, ensure that there will be no sibling rivalry or legal actions against your accumulated wealth. Arrange with your advisor well in advance that your loved ones will be looked after, and that your equity and assets will be fairly distributed according to your wishes.

 

Invest in Your Future in the Efficient Way

As leaders in the independent financial advisory industry, at Efficient Wealth we have dedicated our time and invested our expertise to operate within the strict parameters of our company’s rigorous codes of conduct. We are committed to being a place of trust.

For expert advice and financial consultants who care, consult with us today. We will guide you to your financial future.