How to Choose a Financial Planner

So you have decided you need to get Financial Advice. Selecting the right financial planner can be daunting because you will be sharing not only personal information like your financial position but also your goals and dreams and things that directly affect your family.

The best place to start is to check the Financial Planners qualifications. Check they hold the Certified Financial Planner (CFP) accreditation as this is the highest level of accreditation available. check also that they are associated with an Industry body such as the Financial Planning Association of Australia (FPA) or the Association of Financial Advisers (AFA).

Next to check is their experience. How long have they been providing advice and do they specialise in any particular area. That way you know they have the appropriate training and knowledge to help your specific circumstance.

Then check their Financial services & credit Guide to give you a background on themselves and also the business and Dealer Group they are associated with. You should be able to access this document via their website or it will be provided at your first meeting.

Finally, when meeting the financial planner, make sure you can relate with them, that they listen to your needs and that they can explain things in an easy to follow format and do not just speak industry jargon. At the first meeting most good advisers will explain their financial planning process as well as the fees associated with advice. It may not be an exact cost, but you will be able to determine ii they charge a flat lee based on the work required or if they charge a percentage fee or commission.

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