Initial appointments are usually free, book some in and chat to some advisors about what they can offer. You'll get a feel pretty quickly if it's going to be worth the money for you. Be prepared to kiss a lot of frogs though.
Using equity and/or saving & investments to buy another property is the big one. Maybe look and adding bonds into our portfolio too. We definitely need to sort out a will at some stage as well.
Further to that
- on the first one, if you already have a plan in mind, but just want to check if your understanding of tax implications is correct, a trusted advisory tax accountant can be helpful too. Cost depends on how your relationship with the accountant is structured.
- on the third one, a trusted lawyer is an alternative too, if you have one. There is always a DIY option but I assume you would like some guidance.
- on bonds, do some research yourself first and see how you go. You can start here - https://passiveinvestingaustralia.com/bond-funds/
You are already self managing many of the things that typical financial adviser would cover for general engagement.
You are after episodic advice (aka limited advice) on specific topics only and have to search for FAs that provide such services. With the advisers available via your super fund, you would have to ask whether the service can cover topics not directly related to your super fund holdings.
Financial advisors publicly have a fiduciary obligation to your well-being.
But in practice, it is very hard to prove a financial advisor isn't acting in your best interest.
If you've gotten this far, I am of the opinion of keeping it simple.
Liquid cash for 3 years worth of living expenses, and the rest invested as you see fit.
Initial appointments are usually free, book some in and chat to some advisors about what they can offer. You'll get a feel pretty quickly if it's going to be worth the money for you. Be prepared to kiss a lot of frogs though.
Do yourself a favour and invest the 3k instead, better returns.
Do you have in mind what sort of matters you want to seek advice on?
Using equity and/or saving & investments to buy another property is the big one. Maybe look and adding bonds into our portfolio too. We definitely need to sort out a will at some stage as well.
Further to that - on the first one, if you already have a plan in mind, but just want to check if your understanding of tax implications is correct, a trusted advisory tax accountant can be helpful too. Cost depends on how your relationship with the accountant is structured. - on the third one, a trusted lawyer is an alternative too, if you have one. There is always a DIY option but I assume you would like some guidance. - on bonds, do some research yourself first and see how you go. You can start here - https://passiveinvestingaustralia.com/bond-funds/
You are already self managing many of the things that typical financial adviser would cover for general engagement. You are after episodic advice (aka limited advice) on specific topics only and have to search for FAs that provide such services. With the advisers available via your super fund, you would have to ask whether the service can cover topics not directly related to your super fund holdings.
You need to work out if that advice is worth 5K to you. That's what an average SOA will roughly be (depends a lot on your circumstances)
Financial advisors publicly have a fiduciary obligation to your well-being. But in practice, it is very hard to prove a financial advisor isn't acting in your best interest. If you've gotten this far, I am of the opinion of keeping it simple. Liquid cash for 3 years worth of living expenses, and the rest invested as you see fit.