What is a financial advisor & how they can be your best asset

By Dee Chan, Financial Advisor

Just as everyone should have a trusted health professional to rely on, so should everyone have a trusted financial planner. Professional financial advice isn’t just for the wealthy.

Financial planning is about establishing a long-term strategy to secure your financial future with the lifestyle and living standards you desire, regardless of your starting point.

‘Value’ often goes beyond dollars and cents. It can be the peace of mind and security that comes with being better prepared for the future. Once you’ve begun a relationship with a licensed adviser you will quickly see that he or she adds value to your circumstances by helping you in a number of ways.


  • Setting goals. This process helps you decide where you want to go in life. A skilled financial planner can assist you to identify your financial goals, prioritise them and understand the steps required to turn your vision into reality.

By knowing your goals and timeframes, it’s easier to see where to concentrate your efforts. You’ll also quickly spot the distractions that would otherwise blow you off course.

  • Getting a financial plan started. Developing a written plan with a clear emphasis is critical to achieving your financial objectives. Your planner can provide budgeting and debt management advice to help you start creating wealth without the costly anchor of “bad” debt. Protecting your future dreams with appropriate insurance is another key aspect your planner will manage.
  • Maintaining a diversified portfolio. Every financial planner is required by law to take a client’s risk tolerance into account as part of their personalised financial plan. Diversification is another important tool for managing risk.

This means that the advice given and any investments recommended as part of that process are suited to your specific needs and risk level. And these will change to meet your circumstances as they vary throughout life.

  • Being there over the long term. Going your own way may not be the best option. Most people don’t have the background knowledge to feel confident about making investment decisions that will have a large bearing on their financial future. Keeping up with all of the legislative changes and new investment offers is also an onerous task. Your planner will be there to steer you on your path to financial independence and ensure your plan remains relevant and on track.

While investment magazines and online subscription services can provide very useful information, they may be written by journalists with a general grounding in financial concepts but who are not looking at the complete picture. A financial planner is trained to take into account all legislative and strategic implications to ensure you receive the best advice possible… and this training is ongoing.

Your financial plan is not a one-off, set-and-forget arrangement. Just as life has its many twists and turns your plan must be flexible and appropriate to your needs at any point in life.

Working together with a qualified, experienced and licensed financial planner will help you develop a plan that is tailored to you and your life goals. Contact us to book a Financial Health Check today.

Dee Chan is an authorised representative and credit representative of AMP Financial Planning. Blueprint Planning Pty Ltd (ABN78 097 264 554), trading as Blueprint Wealth, is an Authorised Representative and Credit Representative of AMP Financial Planning Pty Limited, Australian Financial Services Licensee and Australian Credit Licensee 232 706.                                                 

This article contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information.

If you decide to purchase or vary a financial product, your financial adviser, AMP Financial Planning and other companies within the AMP Group may receive fees and other benefits. The fees will be a dollar amount and/or a percentage of either the premium you pay or the value of your investment. Please contact us if you want more information.