Why you should see a CFP financial Planner?


What does a Financial Planner Do?

Financial planning is a process of developing strategies to help people manage their financial affairs and take control of their finances to meet life goals. Financial planning is about helping people set goals and devise a plan to prepare them for the future and give them confidence about their financial security.


What are your six financial planning client needs?

Financial planning can help with debt management and reduction, budgeting, cash flow management, a savings plan, superannuation, tax planning, home loan repayments, insurance, investments, as well as planning for retirement.

Based on this information, a financial planner will develop a financial plan with appropriate strategies that their client is comfortable with, to help them work towards their life goals. A client’s six financial planning needs sit at the heart of what financial planners do.



Financial planners work with clients to identify and consider:

  1. each client’s circumstances including their needs, goals and priorities
  2. the values, attitudes, expectations and financial experiences of their client, particularly in relation to risk tolerance
  3. their client’s ability, both financial and in relation to their level of comfort, to tolerate loss of capital
  4. their client’s financial planning needs across the short term, medium term and long term
  5. non-monetary matters that may affect their client’s financial needs and goals.



What areas of your life can you receive advice on?



  • A financial planner’s responsibilities are to make clear recommendations, outline the risks involved and communicate any possible strengths or weaknesses in the plan.
  • The level of investment risk will be stated in the financial plan and should reflect the risks the client is comfortable with taking.
  • For those receiving long term financial planning, the financial planner will provide an ongoing advice service to regularly reviews your financial plan, evaluate your needs, financial goals and strategies.
  • Financial planners help educate clients: with financial matters; and to identify changes (big and small) that may influence their goals.
  • FPA members must put their client’s interests first and uphold the professional standards in the FPA Code of Professional Practice; and meet the best interest duty and other obligations in the law.



Common reasons people seek financial planning advice?

Financial advice is not just for the wealthy. It helps people plan for things as simple as a holiday, to something as complex as buying a property, or retiring comfortably.

People commonly seek financial advice when they hit major life milestones such as:



What is the difference between personal and general advice?

When you receive Personal advice, the planner will take your personal situation into account and tailor the recommendation to meet your desired goals and objectives. The planner is obliged to conduct research and ensure any advice and products recommended is appropriate to your needs. Personal advice needs to be provided be a planner registered with ASIC and supervised by their licensee.


When General advice is provided, the person is not required to understand your individual circumstances when they discuss a product. The representative will only provide general product information and this may not be in your best interest.