Paul Benson
speaker
378 appearances
1 recordings
1 series
first heard Mar 2021
last heard Mar 2021
Paul Benson’s voice in public audio — every appearance, attributed to the second.
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Appearances
You can only describe yourself as a financial planner or a financial advisor if you're actually registered with ASIC and have all the legal requirements to be able to call yourself that.
Sure.
So as I touched on, absolutely the main thing is a financial advisor is their role is to help you achieve your goals.
So whenever you sit down with an advisor, the starting point would typically always be
what are you trying to achieve here, you know, and that's obviously vastly different for different people.
Some it's to buy a house, some it's to retire, some it's to move to self-employment, whatever it is.
So it's about, all right, these are the objectives and then the financial planner would then find out, okay, so tell me what you've got now, you know, what's the income coming in, what's your balance sheet like, debts, all those type of considerations and, you know, there's quite a few things to discuss and then it's about developing a plan to get you from where you are now to where you want to get to in terms of those objectives.
And as I say, typically, it's an ongoing thing.
In most cases, the objective is it's not going to be all right.
Well, we do those three things and bang, your objective's achieved.
It's typically something that's going to take place over time.
I guess one way to think about it, an analogy that is not an original to me but I quite like it,
If you think of a soccer game, your financial planner is a combination of the coach on the sidelines and perhaps the goalie, right?
The goalie is there to sort of stop the bad stuff happening, which could be, say, I don't know, share markets are a bit volatile and without a planner, some people go, oh, panic and switch everything to cash or, you know, sell up.
Whereas if you had a planner to perhaps talk to, they might have said, well, look,
hang on a minute, we're doing this because we're trying to achieve this goal.
Actually, does this short-term volatility really alter what we're trying to do?
You know, sort of talking off the ledge a little bit, right?
So the financial planner, as I say, if you think about a game of soccer, they're the coach and they're the goalie.
And then your job is to do sort of all the rest, right?
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