July 25, 2018 is_admin

Interviewing a New Financial Planner

Elise Ryan is an Authorised Representative, GWM Adviser Services Limited, Australian Financial Services Licensee

How do you find the right financial planner?

Seeking financial advice can be a daunting task. You work hard for your money, so, in turn, you need to have faith that your financial advisor will make your money work hard for you to achieve your goals.

When you are looking for someone that you will trust it’s a good idea to start the search by asking your friends and family for recommendations. A referral from a trusted person will help you find an adviser with a good reputation, and someone you can have confidence in from the outset.

The next port of call that we suggest is the Financial Planning Association. They have a list of highly qualified professionals here: https://fpa.com.au/find-a-planner/

When you find an advisor that you are interested in meeting, have a look at their education. Look for qualifications like:

  • Bachelor of Commerce (BComm)
  • Certified Financial PlannerTM
  • Master of Financial Planning (MoFP)

Another key indicator is the business that they are working in. Have a look at their website and the offices where they work. If it is a growing, thriving business, they must be doing something right!

When you meet with your potential planner, make sure to interview them, this is your chance to ask them questions like:

  • Are they a specialist in a certain area or for a certain type of client? – for example: women, retirees, young professionals etc
  • What are their qualifications?
  • How many years have they been in the industry? (this is not necessarily the years they have been advising. Many advisors start in the industry and learn the ropes for years before becoming an advisor)
  • What is the process to become a client?
  • What can you expect from the service?
  • Are there additional services such as Accounting, Mortgage Broking & Cash Flow Management?
  • What technology is available to clients interact?

Don’t feel like you must go with the first planner you meet, if you don’t connect with them its ok to interview other planners even within the same business.

At Income Solutions, our first meeting is call The Right Fit.

It is a no obligation “getting to know you” meeting for both the client and the planner. Is it a chance for you to get to know if Income Solutions is the right fit for you and your financial needs and the planner to find out if you are the right client for Income Solutions.

Any advice in this publication is of a general nature only and has not been tailored to your personal circumstances. Please seek personal advice prior to acting on this information. The information in this document reflects our understanding of existing legislation, proposed legislation, rulings etc as at the date of issue. In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, this is not guaranteed in any way. Opinions constitute our judgement at the time of issue and are subject to change. Neither, the Licensee or any of the National Australia group of companies, nor their employees or directors give any warranty of accuracy, nor accept any responsibility for errors or omissions in this document. Before making a decision to acquire a financial product, you should obtain and read the Product Disclosure Statement (PDS) relating to that product. Past performance is not a reliable guide to future returns. The information in this document reflects our understanding of existing legislation, proposed legislation, rulings etc as at the date of issue. In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, this is not guaranteed in any way
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