Find out what to expect when you meet with a HESTA Financial Planner.
Financial advice is something that can help people of all ages, and all life stages. “People often want to speak to me when they have a big life event or when navigating change, buying a home, the birth of a child, divorce, the death of a close relative or when they start thinking about scaling back work and making their money last in their senior years,” says Daniel Callaghan, a Financial Planner at HESTA.
According to a report by National Seniors Australia, many older Australians live with constant worry that they will outlive their savings in retirement, and this is more prevalent for women. “Advice is all about finding ways to ease those worries,” says Daniel.
Why get advice?
“The value of advice can sometimes be financial and easy to measure, such as a tax saving or a better investment return. But the real value of financial advice lies in the peace of mind that a member is on track to meet their goals – like saving for a home or having enough super to maintain their current lifestyle in retirement. It’s about helping them to be protected in case of unforeseen events,” says Daniel.
From a personal perspective, Daniel believes that trust is the most important value he can bring when giving advice to members. “I’m constantly requiring advice, whether it’s going to the doctor or having my car serviced. These situations really drum home the amount of trust I need to place in these experts, and this can sometimes be uncomfortable.
“I understand that a lot of our members find financial planning and super confusing, and that having a first appointment with a financial planner is a big step. My job is to develop trust both in my ability as an adviser and by demonstrating I understand what they value, so we can ensure their financial goals are aligned.”
When advice really pays
“One of our Financial Planners recently met with a client who was worried she was paying too much for super and pension portfolio advice at a for-profit fund,” says Daniel. “It turns out she paid almost $20,000 in financial advice fees in the last year! By taking the time to understand her long-term goals, we were able to provide her with an investment strategy through HESTA that not only met her needs, but should provide her significantly better returns, at a much lower cost.”
What can you talk about with a financial planner?
What you can discuss during an advice meeting depends on your life stage and your individual situation. It all starts with uncovering your unique goals and objectives. “Some members may simply want to understand what super investment choice best meets their needs or how they can maximise their ability to grow their wealth. Others may want to review and plan for all areas of their financial situation, like help with articulating their family’s financial goals and developing a plan to achieve them that safeguards against the unexpected,” says Daniel.
At HESTA, we offer a range of advice options including:
Initial appointments generally take about 1-1.5 hours. This allows your adviser to get to know you and understand your objectives.
Where can I talk to a financial planner?
Face-to-face meetings are held in our HESTA offices in every capital city in Australia. We also offer video-conferencing and phone meetings for our members who can’t make it into the city. Financial planning is provided on a fee-for-service basis. Fees are fixed and quoted up front with no hidden costs.
Daniel says that advice is all about better understanding each member’s needs. “When I talk with our members it’s always about listening to them, understanding who they are and what is important to them. It’s only once there is an understanding of what a person’s unique goals and objectives are that we can start to develop financial strategies and plans,” says Daniel.