17th Jun,2019
Article By
ClearWay Advice & Financial Management

The Ideal Financial Adviser


The Ideal Financial Adviser:

The Ideal financial adviser is “someone who likes you and doesn’t care about  our feelings.” This is an adaptation of a quote from Daniel Kahnemann.

Good advice is not always something we want to hear or read. It does not always fit with what we think or what we want to do. In this age of instant gratification, financial advice can often fall into this category.

Spending hard earned money on new cars, overseas holidays, perhaps even a new home, is not always wise and does not necessarily fit into your financial plan.

Do you have a financial adviser, and if you do how strong is he or she when it comes to “encouraging” you to stay the course, to stick to the plan, to follow the course of action that will give your financial plan the best chance of success. If purchasing new cars, overseas holidays, or a new house is needed, then the financial plan needs to be adjusted and you need to understand the cost of this spending in terms of the achievement of your longer term goals.

And, do you respect the financial adviser enough to listen, to listen to what she or he says, and to take it on board and act on the recommendations.

And if you don’t have a financial adviser, how do you know you are on track to meet your financial goals, if in deed you have defined the goals and the path to success in regards to those goals.

Financial Planners are a unique breed – we need to listen carefully, to analyse the numbers, to be empathetic, and yet to be firm, and to develop workable strategies and monitor the outcomes. Financial Plans take time to yield results, they are not short term. You and your financial planner need to be able to work together to achieve the stated goals. Like life and all relationships, there will be good days and not so good days, but focusing on the goals should result in eventual success.

Our firm, ClearWay Advice and Financial Management is a FPA Professional practice.

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