BUSINESS NEWS - Few could argue that planning for one’s financial future is a pleasant task. It requires asking some very tough questions, such as who will take care of ageing parents? How much money should we set aside for our child’s education? Can I retire at 65? The list is endless.
As a result, few people put a sound financial plan in place that can enable them to live without ongoing worries around money.
This is where a skilled financial planner comes in – to ask the difficult questions and assist in developing a detailed (and realistic) way forward.
“Smart financial planning allows you to relax and have a sense of comfort, no matter what is going on in your external environment,” says Janet Hugo, a certified financial planner and director at Sterling Private Wealth.
“We develop Goal-Oriented Portfolios that enable clients to feel confident even when the market does wobble.”
Hugo, who is a top three finalist in the Financial Planning Institute’s (FPI) Financial Planner of the Year Award for 2017, has developed a very unique and personalised approach to her work.
She began her studies in financial planning after receiving ‘some very bad advice from an insurance salesman’, and simply wanted to empower herself to take control of her family’s financial future.
Hugo focused on estate planning and investment management, and soon decided to take on her own clients.
“From the beginning, I have had the privilege of treating clients the way I would like to be treated myself,” she explains. “I see my role as interpreting legislation, investments and financial services for clients. Ultimately, it’s about creating a plan, not about selling products.”
Indeed, the local financial landscape is a complex one, with many hidden fees and a vast array of financial products to choose from.
With very public debates around performance fees, the benefits of active versus passive investments, and the value of financial advisors, consumers understandably find it a difficult environment to navigate with any confidence.
“Clients often approach me with an ‘investment problem’, or issues around tax,” says Hugo. “Yet the real question is not about which unit trust to invest in, or which property to buy, etc, it’s about really understanding the client and developing a long-term plan that they can stick to.”
