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Financial Planners - how much investment capital to be worthwhile

Discussion in 'Financial Planning' started by jeremykl, 14th Apr, 2015.

  1. jeremykl

    jeremykl New Member

    8th Apr, 2015
    Darlinghurst NSW
    A few of my friends (in their early 30s) have started using Financial Planners.

    But having heard so much bad stuff about them, I am skeptical. I've also heard that you need to have a larger pool of investment capital to make use of planners.

    Does anyone have experience or thoughts on how much investment capital do you need until a planner is relevant / useful?
  2. Terryw

    Terryw Well-Known Member

    9th Jun, 2006
    Financial planners are not just about investing in managed funds or shares. They can be beneficial in helping with strategies involving super and insurance as well as general investing strategies involving property. And then there are the estate planning aspects, ddebt recycling strategies etc
  3. Investor23

    Investor23 Member

    21st Oct, 2014
    Adelaide, SA
    Terry has hit the nail on the head. It is quite broad and some people will benefit, others will not.

    Generally it doesn't cost anything to meet with an adviser for an initial consult to see if they can help. At a minimum i'm sure one could help with super/insurance but as far as investing goes there isn't really a magic number if you are seeing a fee for service planner. It is just important to find someone you feel you can trust.

    When I first turned 18 I saw a financial planner who set up an ongoing investment plan into managed funds for me with a $3,000 initial contribution. With contributing money to this for years now it has built up to be a pretty significant amount of money aided by compounded returns.

    Sooner you start, the better.