Services Provided By A Financial Planner Part 3

Many people think they don't need financial advice. At Adviser Ratings our experience has shown that in many cases, people just don't know what a financial adviser does - and how an adviser could help them in particular. This week, Platinum adviser Liam Shorte outlines the final 3 roles he felt he played as a financial planner. Liam expands to show how he performs these roles and includes the actual services he provides to his clients. This week he concludes the series by identifying what he does in his roles as an “Investment Strategist”, an “Insurance Adviser” and a “Tax Consultant”.

AN INVESTMENT STRATEGIST:

1. Prepares an asset allocation for you so you can achieve the best rate of return for a given level of risk tolerance.
2. Stays up to date on changes in the investment world.
3. Monitors your investments.
4. Reviews your investments in your company superannuation plans.
5. Reviews the costs of your existing plan to ensure it is value for money
6. Helps transition your investments from Accumulation phase to providing a retirement income.
7. Refers you to mortgage broker for loan and debt financing.
8. Suggests alternative strategies to increase your income during retirement.
9. Researches and keeps records of your cost basis on shares and property
10. Provides you with reliable investment research and often differing views from a range of sources.
11. Provides you with personal investment analysis.
12. Determines the risk level of your existing portfolio.
13. Helps you consolidate and simplify your superannuation and investments.
14. Can provide you with technical, fundamental, and quantitative investment analysis.
15. Provides introductions to new investment opportunities.
16. Shows you how to access your statements and other information online.

AN INSURANCE ADVISER:

1. Reviews and recommends life, TPD, Trauma and Income Protection insurance policies to protect your family.
2. Advises on the best structure in terms of within or outside of superannuation to hold the policies
3. Advises on which entity should own these policies to achieve the desired outcome in the event of a claim.
4. Looks at Keyman and Business Expenses Insurance for professional and small business clients.
5. Holding your hand or if the worst happens, your family’s hand while we process a claim with you in the event of illness, injury or death.

A TAX CONSULTANT (within the limits of my licence):

1. Suggests alternatives to manage income streams and  lower your taxes during retirement.
2. Reviews your tax strategies/returns with an eye to possible savings in the future.
3. Stays up to-date on tax law changes.
4. Helps you reduce your current taxes.
5. Helps you determine and fund your desired income in retirement and minimum pension payments.
6. Re-positions investments to take full advantage of tax law provisions.
7. Facilitates the transfer of investments from individual names to trust(s), or from an owner through to beneficiaries.
8. Works with your accountant, tax agent and legal advisers to help you meet your financial goals.

Liam Shorte is a Platinum adviser from Verante Financial Planning, servicing Castle Hill and Windsor in Sydney. Liam has 36 Client reviews and an average client rating of 96%.

 

Article by:

Liam Shorte

Was this helpful content?Let others know - share and vote-up