Different types of Financial Advice depends on your different situations in your life eg. investing money and what you’re trying to achieve.
Here are a few of the different types of advice:
1. General Advice
General Advice is when you just need the basic details on super, investments, insurances and/or estate planning.
Your particular circumstances do not need to be taken into account, so it general advice is recommended when:
- You have questions regarding your superannuation, retirement, investments, insurances or estate planning.
- You would like to know the differences between product solutions such as retail super vs SMSF and how to access them.
- You are interested in finding out how seeing a financial adviser could help you.
2. Comprehensive Advice
Comprehensive Advice is for when you want to plan your financial future through the planning ideas in order to achieve your financial goals.
This type of advice is recommended when:
- You are looking to build wealth for the future
- You are planning for retirement
- You are a business or professional
- You are self-employed
3. Personal Advice
Personal Advice is when they consider your personal situation before making any recommendations. This is usually best discussed with a Financial Adviser.
Different types of Personal Advice that an adviser can give you are:
- Help with different financial issues eg. making personal super contributions
- Developing a financial plan to help you set and achieve financial goals
- Ongoing advice and help monitor your financial plans