Here is how it works
Only 20% of adult Australians see a financial advisor. That means 80% are
missing out. Why are they missing out? There are 3 key reasons:
Those clients who take the plunge will usually be better off for it, but the initial fees are such a turn off that most people don't even try find a financial adviser. At Plenty, we take this risk out of the equation by making the initial advice free, and charging only a fraction of what other financial advisers charge on an on going basis.
Financial advice will show you what you can afford, when you can afford it, and how you can afford it. In some cases, the advice will make you better off by reducing fees you pay on financial products, reducing tax, reducing the interest you pay on debt, and improving your investment returns. In other cases, the advice will help you manage your cash flow so you only spend what you can afford, and that spending is directed in the most optimal way. Imagine feeling confident about money and having one less thing to worry about.
These days you need to be university qualified to become a financial adviser (in fact our chief adviser is an actuary with 3 degrees), and financial advisers aren't allowed to receive commissions for any investment or superannuation recommendations. One of the great things about digital financial advice is that the rules are very transparent. We can always point to any advice and understand the rules that sit behind it, and how those rules are built in our clients' best interest.