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12th May 2023 - Private Wealth
Creating and managing a financial plan for the future is a lot like building a sailing ship.
A ship needs sails. Sails drive you forward and give you momentum. So they’re a bit like your investments.
A sailing ship also needs a rudder. The rudder gives us the ability to steer and helps us to work towards our destination. So it’s like the strategy.
If you have one without the other, you’re not necessarily going to get a great outcome.
Having the sails pushing us along is good, but you might end up anywhere. You might even end up on the rocks.
A rudder on its own will enable you to steer a course, but you won’t have the forward momentum you need to achieve your goals.
When you look at it this way, it might seem a bit ridiculous that you would ever have one without the other. But unfortunately, that’s just where many investors find themselves again and again.
You could be receiving good advice on strategic direction, but perhaps the investments are a little lacklustre. You know where you’re headed, but it’s not really clear when you might get there.
On the other hand, you might be swayed by stories of great potential returns and urged to buy this or buy that. But if there’s no strategy or financial plan behind those decisions, there can be real dangers. Do the investments align with your goals? Are you taking on too much risk to chase returns? Have things been correctly structured to deliver tax effective outcomes? If your adviser doesn’t seem to be able to answer these questions confidently, there’s probably a good chance you’re sitting in a boat that’s all sails, no rudder.
At Elston we want you to have the best of both worlds. That’s why you get strategic advice from highly qualified advisers. Plus you get the expertise of the Elston Asset Management team who work to a disciplined investment process.
These two specialist teams focus on their own area of expertise, working to ensure your financial plan strategy and investments are shipshape.
If you would like more information please call 1300 ELSTON or contact us to speak to one of our advisers.
This material has been prepared for general information purposes only and not as specific advice to any particular person. Any advice contained in this material is General Advice and does not take into account any person’s individual investment objectives, financial situation or needs. Before making an investment decision based on this advice you should consider whether it is appropriate to your particular circumstances, alternatively seek professional advice. Where the General Advice relates to the acquisition or possible acquisition of a financial product, you should obtain a Product Disclosure Statement (“PDS”) relating to the product and consider the PDS before making any decision about whether to acquire the product. You will find further details of the service we provide and any cost to you within the Financial Services Guide. Any references to past investment performance are not an indication of future investment returns. Prepared by EP Financial Service Pty Ltd ABN 52 130 772 495 AFSL 325 252 (“Elston”). Although every effort has been made to verify the accuracy of the information contained in this material, Elston, its officers, representatives, employees and agents disclaim all liability (except for any liability which by law cannot be excluded), for any error, inaccuracy in, or omission from the information contained in this material or any loss or damage suffered by any person directly or indirectly through relying on this information.
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