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Phone: 0487272466

Email: kerri@paragoninsurancesolutions.com.au

Postal Address: PO Box 317 Budgewoi NSW 2262

18 Perouse Ave
San Remo, NSW, 2262

0487272466

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Filtering by Tag: Financial Planner

Five by Five from a Financial Planner

Kerri Day

For this months Five by Five I would like to introduce my associate David Hammett founder and owner of Sydney Wealth Advisers. Through Sydney Wealth Advisers, Dave brings a better, fairer and more transparent way to showcase the true value of quality financial advice.

I am proud to call him my friend and know he will help you shed some light on how a Financial Planner can assist you.

The concept is simple: Do the right thing, do it well and do it in a transparent manner
— by Dave Hammett
I am pleased to introduce Dave Hammett founder of Sydney Wealth Advisers

I am pleased to introduce Dave Hammett founder of Sydney Wealth Advisers

Here are Dave's tips especially for you.

One - Have a Financial Plan

The old saying "Failing to plan is planning to fail" is not strictly true.  There are many success stories of people that manage their own financial plans.  I have however, met very few that have optimised their positions by understanding the deep complexity of investment markets, legislation and taxation.  It is nearly always the case that the initial and ongoing costs of a professional adviser will be recovered many times over the course of your investment horizon.

Two - Research your adviser

It's sad to say that there are still some so called professional advisers out there that continue with bad habits when advising.  These include:
· Only using the products and services of the institution they represent
· Cookie cutter advice or a one size fits all
· Charging for ongoing advice services but providing none.
 
If you have an adviser - good decision!  I'd ask you however to review what ongoing advice you’re actually getting.

Three - Know your limits and budget

Today's social dynamic makes us all want the best.  We want to nicest house we can afford, the best cars and spare cash to spend on holidays and treats.  The truth however, is that you can’t have it all.  That's where a budget comes into it.  If you do not manage your personal cash flow properly chances are you're living week to week.  Start by drafting a spreadsheet yourself or engage with a financial adviser that will include budgeting as part of their strategic advice.

Four -  Ask for discounts

A very quick but effective tactic to reduce a utility bill or interest rate is to ask.  Nearly every utility provider, bank and finance company has a 'retention's team'.  If you contact them and let them know you have been offered a better price elsewhere for the same product or service they will nearly always try to match it (within reason).  A great start to that conversations can be as simple as letting them know that you wanted to give them the opportunity to retain your business - that's their job.

Five - Don’t believe everything you read

Avoid paying attention to main stream media outlets that are doomsday speculators.  If we believed even a fraction of the things we read about the doom and gloom of global economies we would all be in deep trouble.  The truth is that a well-planned and well managed investment strategy should be built to weather any likely bumps in the road, and whilst it's true to say that that investments can and so go up and down, good fundamentals in your portfolio should provide for more ups than downs over time.

Contact Sydney Wealth Advisers

P 1300 584 052E info@sydneywealthadvisers.com.au

 

Five by five is a radio communications expression that means ‘loud and clear’. The radio use of this expression goes back to the 1950’s: ‘All right, testing, one-two-three...’ Five by five My Holloran!’ (Hunter, Blackboard Jungle, 1954)
— www.urbandictionary.com