3 benefits of financial advice that might surprise you

Published on: May 11th, 2021

When considering whether to get expert advice from a financial planner, the financial outcomes are the first thing many people consider. And rightly so. Recent research highlights that after just 4-6 years of working with an adviser, advised clients accumulated an average of 60% more assets than non-advised clients. And after fifteen years, this grew to a whopping 290% more assets than comparable households who didn’t receive advice.

But did you know there are a host of other benefits that don’t directly relate to your finances? Here are three additional benefits of financial advice that might surprise you.

#1 Increased happiness

They say money can’t buy happiness, but it seems quality financial advice can. According to FPA research, advised individuals are happier than those who don’t receive advice. And it makes sense. Money and finances are the biggest sources of worry for many Australians, so having an expert adviser who keeps you on track can alleviate one of life’s biggest stresses.

I’ve talked before about how you can buy happier time, outsourcing the jobs you don’t enjoy in life to buy more time to spend on the things you love. This is true when it comes to your finances too. If you are struggling to find the time or motivation to manage your finances, it’s another great reason to consider getting expert help.

#2 Improved mental and physical health

From sleepless nights to depression, financial worries can lead to a raft of health issues that can have a lasting impact on your mental and physical wellbeing.  Many Australians are quite literally worrying themselves sick over finances, and the peace of mind expert advice brings can be life changing.

In fact, a recent report stated that 79.4% of advised clients report being instilled with improved peace of mind, and 81.5% felt more confident about making decisions.

#3 Healthier relationships

With money being such a big cause of stress, it’s not hard to see how it can impact your relationships too. It’s a leading cause of relationship breakdown and divorce in Australia and can also cause significant family breakdowns, especially when it comes to divorce, inheritances and estate planning.

By working with a financial planner, you can set goals and plans as a couple and/or family that make sure you are working together for today and towards the future you all want.  We can also help you prepare for the unexpected, ensuring you have the right plans and protections in place for whatever life brings.

If your finances are causing you stress, sleepless nights, or just eating into time you’d rather spend on something else, get in touch. Professional advice from a highly recognised financial planner could just be a game-changer for more than your finances.

If your mental health is being affected by financial issues, reach out for immediate counselling support to Beyond Blue on 1300 22 4636 or Lifeline on 13 11 14, 24 hours a day.

General Advice warning

The information provided in this blog does not constitute financial product advice. The information is of a general nature only and does not take into account your individual objectives, financial situation or needs. It should not be used, relied upon, or treated as a substitute for specific professional advice. Apt Wealth Partners (AFSL and ACL 436121 ABN 49 159 583 847) and Apt Wealth Home Loans (powered by Smartline ACL 385325) recommends that you obtain professional advice before making any decision in relation to your particular requirements or circumstances.