What Does A Financial Planner Do?

Financial planners are trained to advise on a range of matters, including:

Financial management from basic budgeting to complex portfolios.

Investment strategies, including recommending investment categories and specific products.

Superannuation strategies to help you accumulate enough money to retire with the lifestyle you’d like, and strategies to help you minimise the tax you pay right now.

Retirement planning – whether you’re about to retire or it’s a long way off, because the sooner you plan the better off you’ll be.

How to use a redundancy payout most effectively, including how to make it last as long as possible.

Insurance to make sure you adequately protect what you’ve achieved so far, whether it’s a property, assets or your income.

A financial planner is a personal coach for your money. Their aim is to help you protect your money and make it grow, so you can have more of the things you want today and in the future.

The first thing your financial planner will do is ask about your current circumstances and your goals. They will then help you make informed decisions about how to invest and protect your money, as well as recommending financial products to meet your needs.

The financial planner will look at the seven key building blocks (or ‘strategies’) of growing wealth, including:

Budgeting

Investing

Managing debt

Managing tax

Super

Protection

Social security

They will then create a personal financial plan that includes a mix and match of these strategies to suit your individual circumstances and financial goals.

All financial planners accredited by AMP Financial Planning are authorised to provide advice on a range of issues. You can ask to see their Financial Services Guide and if you still have concerns check with the Australian Securities and Investments Commission (ASIC).