Newer Article

Seeking Financial Advice or Financial Planning

by Acceptance Finance

Tuesday, July 12th 2011, 16:11 GMT+10:00
Australia

At a time of uncertainty in the economy there is not a household budget or indeed, a business balance sheet in the country, which would not benefit from sound and solid financial advice.

It is very important to protect your income whether it comes from a salary or earning one’s living from owning a business. From this income you can invest to create wealth and this needs planning.

The Difference between Advice and Planning

Understandably many consumers would struggle to differentiate in detail the difference between financial advice and financial planning.

Many when seeking such advice are simply looking to solve a problem. In the case of a business a product i.e. leasing to finance a machine or working capital product such as invoice discounting or individually financing a car by way of a Bank Loan.

However, there is a gulf of difference in the provision of financial advice from that of engaging in the provision of lifestyle financial planning.

What do I mean by this? Simply, that financial advice deals with the organisation of financial products. It is, at a basic level, just the things that are done after completion of the analysis of the needs of a business or an individual.

In contrast, proper lifestyle financial planning deals with the people themselves who need advice. It is not simply focused on the sale or the implementation of a financial product. This style of advice is far broader, more detailed and of greater importance than the mere identification of the need for and transaction of a financial product.

A true financial plan thoroughly analyses  the  person  themselves., their  hopes,   goals, aspirations, ambitions and concerns. It examines also their personal financial situation including their salary, earnings, resources, lifestyle requirements and future plans.

It is important when seeking advice to find experienced personnel to both recommend the financial products and provide financial planning. It should be all about protecting the main assets and creating wealth for the future.

Tonina Ciarrocchi –  Acceptance Financial Planning
Phone: 0412 881 111 
Email: tciarrocchi@acceptancefinance.com.au

Authorised Representative of Lonsdale Financial Group Limited

	Newer Article
Browse 'General Articles'
Browse 'General Articles' Archive

2012 Charity Ball

Follow us on