Do you need specialist financial advice? Ask yourself these questions

– Chanelle Taylor (Director, Cornerstone Financial Planning)

Did you know that it is just as important to take care of your financial planning as it is your health? We often seek guidance and advice when it comes to choosing a suitable family doctor, so why not choose a suitably qualified financial advisor to consult on your present financial health and your future planning?

As with certain minor health conditions, self-medication is an option. You also have the option to Google “unit trusts” and buy directly from the provider, or buy a Will template from your stationery shop.

In much the same way you’d enlist the help and advice of a professional when dealing with issues of a more complex medical or legal nature, so too your financial planning generally requires the same type of specialised input from a qualified financial adviser when your financial world starts “accumulating” in size or complexity.

Developing and managing a comprehensive lifestyle and goal-based financial plan for yourself, your family and business, has many aspects to it. To touch on a few, here are some relevant questions worth asking yourself in deciding if you, your family or business, need the services of a financial planning professional:

·     Financial Management: Do you or your family manage a monthly budget? Are you spending more than you are earning? Are you aware of the true cost of borrowing for your home loan, vehicle finance or store card? Do you have a plan to manage or reduce your debts?

·    Investment planning: Do you have a short, medium and long-term investment plan? Do you know the true difference between an investment policy sold to you and an investment portfolio managed for you? Are you investing enough for your retirement? Do you have a retirement plan or a retirement policy? Do you know how your investments have performed over the last few years?

·     Estate Planning: Do you have a Will? If you do have a Will, are you sure that after all costs are paid, your assets can in-fact be bequeathed to your loved ones and not have to be sold to cover the late-Estate costs? Do you know that you can negotiate your executor fees while you are still alive? Have you done an Estate Plan? Are you aware of how the latest legislative changes could negatively impact your Estate planning and wealth transfer?

At Cornerstone Financial Planning, we specialise in all aspects of Financial Planning, Estate Planning, and Fiduciary Services. We focus on personal consultations to develop bespoke life stage and goals based financial plans.

Contact us if you would like to find out how we can assist you with setting and achieving your financial dreams.


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