Despite its pre-eminent position in most people’s financial future, there is a general tendency to leave superannuation on ‘autopilot’ and not take an active interest in its management and investment. This approach can put you at a serious disadvantage in terms of your ultimate retirement outcomes. To get the most out of your super and to ensure you have an adequate strategy for retirement, it is critical to become engaged with it and to get the right advice about how to maximise your position. The question is: who do you trust to get that advice?
Your super is a major asset that warrants your active engagement so that it is managed and invested in a way that reflects your personal choices. The complexity of superannuation regulations and the taxation system, however, can make this quite a daunting prospect to deal with by yourself. Few of us have the time or inclination to become super experts ourselves and this is where the value of qualified, personalised advice can come into its own.
One of the key foundations of financial advice is that it must be based on a close understanding of a person’s particular objectives, lifestyle circumstances and investment personality. Qualified advisers are trained in being able to help their clients to identify and crystallise these issues, so that a highly individualised strategy can be developed.
Another key advantage of obtaining professional advice on your super is that it is based on a long term relationship, not a quick fix. Circumstances change, objectives evolve and the investment environment fluctuates. A big part of an adviser’s role is to help you adapt your planning to cope with all of this. At the same time they have access to market and legislative research and analysis, which allows them to provide the kind of fact-based, objective guidance needed to capitalise on market and legislative movements.