If you are thinking of investing in shares or managed funds, or other types of investments in order to grow your wealth, you can go DIY but it may provide more time consuming and risky as these products are often more complex and harder to understand than savings products or bank accounts. There is a real risk that you will buy a product that is not suitable for you and doesn’t help you achieve your objective.
Investing can be a risky business and the costs of getting it wrong can be significant. For most people, the best approach will be to purchase a diversified fund, that holds investments in a variety of different assets – such as cash, shares in Australian and international companies, government bonds etc, that is managed by a professional fund manager. Purely FP will take the time to understand your investment goals and your attitude to investment risk in order to determine what are the most appropriate investments for you to own.