Is it worth seeing a financial adviser before you’re wealthy?

For many families, yes. The years when you are earning well but haven’t yet built much wealth are when decisions about cash flow, debt, super and investing have the longest time to work. Advice is worth it when the value it adds is clearly more than it costs, and a good adviser will tell you honestly if it isn’t yet.

The cost of drifting

Most of the families we meet are doing plenty right. They work hard, earn well and pay the mortgage. What’s missing is a plan joining the decisions up, so money that could be compounding sits idle, or goes to the wrong debt first.

Where early advice tends to help most

• Cash flow. Knowing where the money goes, and making saving automatic.
• Debt order. Clearing expensive debt first and setting up the mortgage well.
• Super. Small contribution decisions in your thirties and forties add up by retirement.
• Investing outside super. Building options before preservation age.
• Big decisions. A home upgrade, a new baby, a career change, made with the full picture.

How to tell whether it’s worth it for you

Ask what the advice will cost, what you get for it, and how the adviser will measure the value. At Channel Wealth, the first conversation is where we work that out together. See how we charge.

This article is general information only and does not take into account your objectives, financial situation or needs. Consider whether it is appropriate for you, and seek personal advice, before acting on it.