Of course, that's simply not the case. So I see it as one of the main aspects of my role to share with people outside of our industry just what an adviser can do for you. In all honesty, and most importantly, it's all about working with you to help create your best financial future.
Many years ago, as a youngster in my first customer-facing role, a senior member of staff (who just happened to be a financial adviser) strongly encouraged me to join the company's Superannuation scheme.
"Put away 5% each pay," he said. "You won’t notice it," he said. "No brainer," he said.
That was 30 years ago….I wish I had listened but as a young lad, it did not make any sense to me. If I had listened and taken his advice, I would have a nice tidy little sum sitting awaiting me now!
KiwiSaver has made it easier for young people to access and understand the importance of saving while working. But that's just the beginning - the importance of the help an adviser can give along the way can add significant value to people's financial future.
Working with an adviser is not just restricted to KiwiSaver. They're able to give you some 'tricks of the trade', help with further investing, help with mortgages, help with insurances and the help an adviser can give in the tougher times is invaluable.
You may not know it now, but you will need them at some stage in the future.
If someone asks me, "When should I talk to a financial adviser?", I’d answer - "At any time". Because as broad as my answer is, it's because an adviser can help by taking a look at your overall financial picture to give you some insight on options to look at, guidance with making plans for your future, or even just simply bettering your current situation without adding anything into the mix.
I’ve always got a good story to tell (not to mention many great dad jokes!). One story I do tell regularly is that through the years of Finance companies being a popular investment – offering high-interest rates and supposedly high-rated funds – I used to ask my clients a simple question. “What are they investing in to be able to offer you that great return? What’s the risk here – and does it outweigh the return?”
Which, at that time, the extra returns would have been about the price of two cups of coffee a week.
Unfortunately, too many people were chasing the returns and ended up losing money. After the collapse of a few of these companies, I had many clients telling me I was right and thanking me for getting them to take a step back and evaluate.
That’s the difference a good adviser makes.
I've seen first-hand the massive difference a financial adviser can make in getting your financial future sorted. We have some great advisers we partner with here at Booster, so if this sounds like the next step for you, give us a call and let us introduce you to one for a chat.