Each year, Financial Planning Week aims to raise awareness about the benefits of professional financial advice.
New research data just released by the Financial Planning Standards Board makes clear that those who receive financial advice feel:
better about their health, connection, purpose and life satisfaction
more confident about their financial security and ability to achieve their goals
better about spending capability, risk management, and overall wealth
more optimistic about meeting their financial needs and achieving financial gains.
At Aeran, we are reminded of the importance of these financial and non-financial benefits to the personal injury clients we serve. We are acutely aware of the stress that takes over the life of a family when someone has been seriously or catastrophically injured. A drawn-out legal process also takes a toll.
As advisers, it is key that we work with our clients to build peace of mind, confidence about the future and a feeling of financial security. The hard numbers matter too – good, clear financial information and supporting explanations.
High discount rates and other factors impacting personal injury settlements mean that every dollar counts, and the money really needs to last, particularly by keeping investment fees low.
Expert advice from experienced advisers can make all the difference. A number of very specific strategies are available to those receiving personal injury compensation, some with strict time limits after the settlement fees are received.