Blog General Manager Jon Collier: “Our wealthiest clients have these 5 habits in common”

| Editor

Some people we speak with think that to build wealth you need to have a flashy career title; like CEO, or pilot. They seem to have the assumption that you have to already be wealthy to talk to a financial advisor, but that’s just not true!

Some of the richest clients we work with are humble professionals. They may not have initially been wealthy, but as the years pass, looking at their bank accounts, it's evident that something they are doing is right.  

Funnily enough, accumulating wealth is much more simple than it seems. We help our clients do three things: make use of the money they’re making, save money, and invest money so they can build wealth over time. 

Here are the top five financial habits which we see over and over again in our most successful clients:

1. They set clear financial goals

Having dreams in life is great, but without a map to guide you, it’s easy to get lost.

Setting immediate, mid-term, and future financial goals is an integral step in your journey to becoming financially secure. 

When you don’t have set monetary goals you are more likely to spend unnecessarily.

Our most successful clients either already have financial goals in place that they want our assistance with, or if they don’t, we’ve pulled together a team of experts in every field who will work together to develop a financial plan just for them.

2. They have savings

Saving money means that you have something set aside for emergencies and you don’t have to get in debt when an unfortunate surprise arises.

It also means that when an investment opportunity arises you will have the money available to fund it. 

Our most successful clients always have saving plans in place.

We put plans in place that propel them towards achieving their dreams but also ensure they can still live the life they want now.

Deciding where to hold your savings can be overwhelming. We help our clients choose the right funds/accounts to get the best long-term returns.

3. They invest

In order to build your wealth, you need to invest and invest wisely. 

Investing allows your existing money to work harder for you.

If you don't invest, you are missing out on opportunities to accelerate your financial worth.

Whether this is in funds or property, we help our clients choose the right investments.

All too often we see people focussing all their efforts in one area while missing opportunities elsewhere. That's why developing an investment plan is key.

4. They diversify

Diversification means creating a wealth portfolio that includes multiple types of investments.

This is important because it increases your odds of investment success and reduces investment risk. 

Building a diversified investment portfolio can be a daunting task, which is why our advisors look across a multitude of options and offer independent advice.

5. They seek expert help

Getting the right financial advice is important for people of all ages, and all economical positions.

We help you define your financial goals and lay out a path to help you get there.

Our most successful clients understand that it’s better to leave things like investing, taxes, and major financial decisions in the hands of the experts. 

They may already have some financial knowledge but they understand the value of partnering with a financial advisor.

If you would like some advice on how to incorporate these five habits into your financial future, get in touch here.