Financial Planning is a relatively new profession so there is a degree of nervousness amongst consumers about what the process is and how they will benefit. Why does anyone even need to see a financial planner ?
This week is Financial Planning week. The intention of Financial Planning week is to raise awareness amongst consumers about financial planning and how it works.
The laws in Australia relating to superannuation, savings, Centrelink and income tax are complex to put it nicely. Successive governments from both sides have been making their presence felt for many years to make things simpler. When the government is trying to make thing simpler you would not be surprised if the opposite happens.
There has been a huge amount of change in Financial Planning as the government tries to create an environment where you, the consumer is happy, comfortable and benefits from seeing a financial planner.
The government wants people to use financial planners and the government wants to know that you will be well looked after when you see a planner and you will derive significant benefit. I cannot argue with any of those sentiments. The government also wants you to know exactly what you are paying advisers and why and there is no argument from me on that front either.
The following is an article from the FPA’s Money and Life Websit about how financial planning works. I hope you enjoy the article and if you think that you may want to have a financial plan prepared then please seek out your local financial planner and if you are somewhere near Balcatta or Canning Vale then please contact our office.