The value of good Financial Planner

Feel free to reach out to PSG Wealth Adviser Ross Marriner directly.

Financial advice has undergone a significant transformation over the past few years. What was once dominated by product sales and commission-driven strategies has now evolved into a profession centred around client needs and holistic planning. Investment and insurance products have become extremely complex and complying with the relevant legislation has become increasingly onerous. 

Despite this progress, there are still misconceptions about what true financial advice involves. Many people continue to associate financial planning with simply reviewing portfolios or purchasing insurance. However, proper financial advice encompasses so much more.

The Financial Planning process involves a thorough analysis and evaluation of your current financial status and goals.  These goals could include a carefree retirement, educating your children, reducing the amount of tax you are obliged to pay, saving for a new car or being able to sleep well at night with the knowledge that life will go on in the event of an unplanned incident.

After this analysis, the financial planner would be able to make tailored recommendations for the steps needed to help you meet your financial goals in the short, medium, and long term.  This plan would then need to be implemented and monitored on a regular basis, as your circumstances naturally change over time.

Over the past few decades, the financial planning industry has made great strides in raising professional standards. Designations like CFP® (Certified Financial Planner) have been established to ensure that advisors meet rigorous ethical, educational, and experiential benchmarks. Financial planners who have earned the internationally recognized CFP® designation have passed a comprehensive set of exams administered by the Financial Planning Institute, demonstrating their expertise in personal finance. This shift has moved the industry from a product-selling approach to one focused on delivering value through personalized, comprehensive planning.

The key to successful financial planning is partnering with a professional who provides a tailored, in-depth plan that aligns with your unique needs. True financial planning delivers insights and strategies that can save money, reduce risks, and improve your financial well-being over the long term. According to research undertaken by the Vanguard group, individuals who work with an experienced Financial Planner typically achieve an average return that is 3% per annum higher than those who manage their finances on their own.

By working with a Certified Financial Planner® to create a solid financial plan, you can rest assured that you are not leaving your financial future to chance and that your goals and aspirations will one day be realised.