The Value of Financial Advice

Edition 49 of Ascent Insights, the penultimate edition of the half century, comes at a time when Australia needs great financial planning more than ever. And, just as importantly, at a time when Australians needs to be reminded of the benefits of intelligent financial advice.

Financial planning is about achieving your lifestyle goals. Full stop. It’s not about building so much wealth that you can fill your swimming pool with gold coins like Disney character, Uncle Scrooge (unless of course, that is one of your lifestyle goals). And because everyone’s lifestyle goals are unique, it can carry a sense of intangibility when compared to the easily-tangible components of financial planning; superannuation portfolios, life insurance policies and estate planning trusts.

Yet, it’s the intangible factors that are vital to any financial plan; teaching your children about money, planning and achieving goals; ensuring smooth communication during estate planning and the efficient delivery of wills. Yes, financial plans continue well beyond your lifetime; they influence how your children and grandchildren may manage wealth. Financial planning is not too far removed from financial education.

Speak to anyone who has enjoyed a quality relationship with a financial planner, and they won’t begin to talk about how much they paid for the service. Instead, they will talk about the peace-of-mind they received; the guidance provided; the quality family time they were able to enjoy because they had someone managing the burdensome administration work that comes with dealing with superannuation, insurance companies and portfolio construction. Believe me, life is far more important than watching stock-market volatility and monitoring superannuation pension withdrawals.

With global stock markets in mind, the past month has seen the a market rollercoaster: concern and selling quickly turned to optimism as Australian markets appear poised to hit 10-year highs. Labor and Liberal parties both announced personal-income tax cuts. And trade tension eased between the USA and China as the USA government announced it would put tariffs “on hold”.

You can read more below in Godfrey Pembroke’s monthly update or watch Senior Economist Bob Cuneen discuss the world’s markets with Potfolio Specialist Sinead Rafferty.

If you have you any questions from this month’s edition of Ascent Insights, please feel free to call 03 9672 5111 or email

Kind Regards,

Mark O’Toole CFP™

Founder/Managing Director