The Effect of Good Professional Advice

The Effect of Good Professional Advice

When it comes to professional advice, everyone is different. Some want confirmation on the decisions they’ve already made. Or they may want a professional mentor who can help them with every financial decision.

In the same way as you might go and see a doctor when you are unwell, you may consider going to see a professional for advice if you have financial issues that you may need to address. Of course, the type of advice you need depends on your life stage, the complexity of your affairs and if you are a business owner – are you ‘Growing or Going’. This means taking time out to reflect and review what you want from life by addressing your, your business’ and your family’s current financial health and setting formal goals and objectives – it’s all about defining exactly how you bring your WHY to life.

Not everyone needs the services of a professional all of the time with some only needing help at crucial times such as when they’re changing jobs, retiring or making a large investment and there are some people who may never need to use a professional. Whether or not you need professional advice depends on your WHY, HOW and WHAT…..

  • WHY do you get up in the morning?
  • Do you understand your purpose?
  • WHAT is the most important thing to you, to your family, to your business?
  • WHAT does success look like to you when all this is working?
  • WHAT is the result? – the desired outcome that you want?
  • HOW are you going to achieve your financial goals? – the actions, tactics and strategies to be taken to deliver the What
  • HOW complex the financial matters you are dealing with are?
  • Who is accountable to deliver?
  • Is this all reliant on me?
  • Who can we engage to help us?

While a lot of people aim to be financially independent, only a small number of Australians will achieve this goal. Obtaining good and sound advice from a professional can mean all the difference in getting your financial situation in order. Good advice doesn’t promise the moon and stars. It’s about acting in your best interests and not deliberately confusing people. An important aspect of a healthy client-adviser relationship is honesty and open communication that goes in both directions. Authenticity and building trust is influenced by shared values and mutual respect.

You trust them because you feel like you can be yourself around them. You can express your values, desires, comforts, and discomforts, and even though they may disagree, they won’t judge you, and you will never feel like you’re being judged, because you know the professional cares about you and your situation. This is what we all seek, as human beings — this is what we all desire.

The right kind of advice can really make a big difference. Good advice can give you confidence that your future plans are achievable. If you’re not on track to achieve your goals, it can help you put the right strategies in place or come up with more realistic goals.

That assistance can be real because there are many good, ethical advisers. The advice must only be in the client’s best interest and to ensure this happens, conflicts of interest should not exist. Good planning and advice are truly valuable for people of any age and of every net wealth position. There is no excuse for any person to be sold a product they don’t need or to lose their hard-earned wealth from inferior advice, but unfortunately it happens. The best protection against this risk is to know what questions to ask.

It is important to visualise how strategy and good advice from
professionals can help you find your direction and understand your
WHY when planning for sustainability. From there you will gain a
clear understanding of the strategies and collaboration that you can
put in place to ensure your, your business’ and your family’s current
financial health becomes a powerhouse and is at its strongest – not a
one-time event.

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