Good financial advice answers these questions by mapping out your goals and putting strategies in place to achieve them. The traditional measures of financial advice success have focused on achieving tangible goals, such as retiring earlier, relative investment returns, or simply spending less.
While these financial benefits of advice have long been established, we have evidence financial advice gives you much more…
The true value of advice . An IOOF survey of 521 advised and non-advised participants revealed those who receive ongoing financial planning advice experience1:
- 13% greater levels of overall personal happiness
- 21% overall increase in peace of mind
- 19% less likelihood to have arguments with loved ones.
Meanwhile those who don’t receive financial advice were:
- 22% more likely to have their sleep disrupted due to money concerns
- 15% more likely to feel stress and anxiety
- 11% more likely to feel concerned about their finances.
What’s more, 83 per cent of clients surveyed endorsed the value of financial advice by saying it’s also important for their loved ones to have good financial advice!
Even if you have your financial house in order, a financial adviser provides the comfort and peace of mind of a well thought out plan, a plan that ensures you are better prepared for the future. Furthermore, advice extends beyond measurable financial gains, to improved physical health, stronger relationships and personal happiness.
That’s the true value of advice
1 IOOF: The true value of advice (2015)