Why speak to a financial adviser?

In today’s world with ongoing changes to legislation, volatility in financial markets, changes to superannuation rules and too many investment products to choose from, most people find it difficult to know how, when and where to invest their hard earned money.

That’s where a financial adviser can help. It’s their role to keep up-to-date and advise you on what’s happening in markets, where to invest and how legislation affects you and your personal circumstances. A financial adviser will help you look at your whole situation to ensure that the financial decisions you make set you on the right path to achieving your goals, both in the short and long term.

As your situation changes throughout your life, so will your needs and so too will the strategies recommended by your adviser. That’s why a financial adviser should be part of your everyday life.  Just like your doctor, lawyer, or children’s teacher, your financial adviser can help you make sure life is as good as it can be.

By creating a financial plan with a financial adviser you will get:

  • relief and reassurance - you now have a financial strategy in place
  • confidence and satisfaction – you are making the most of your situation to help optimise your financial future
  • peace of mind – you can sleep at night knowing a professional is looking after your interests.

A financial adviser can give you advice on a range of topics including:

  • budgeting and managing debt
  • wealth accumulation and investment strategies
  • tax effective investments
  • superannuation and retirement strategies
  • maximising social security entitlements
  • protecting your family with insurance
  • wills and estate planning.

If you are ready to speak to a financial adviser, click here to find one near you.

Selecting a financial adviser

Choosing a financial adviser can be daunting. Trust and reputation are important. You need to have confidence in the professional standards of your financial adviser and their capabilities to advise you now and in the future. Don’t be afraid to ask your prospective financial adviser questions about their:

  • relevant qualifications, such as a Diploma in Financial Services, a Fellow Chartered Financial Practitioner (FChFP) qualification or a Certified Financial Planner (CFP) qualifications
  • their licensing arrangements, for example are they self-licensed or do they represent a licensee group?
  • obtain their AFSL number or authorised representative number and check it at asic.gov.au 
  • length of financial planning experience  
  • areas of expertise, for example superannuation and retirement planning
  • experience with clients in circumstances similar to yours  
  • knowledge of taxation and social security regulations  
  • availability for future consultations 
  • membership of professional associations or bodies such as the Association of Financial Advisers (AFA), the Financial Planning Association of Australia (FPA) and the Financial Services Council (FSC)

You should also ask the financial adviser how they calculate and charge for their services.  Do they have an initial flat fee for preparing the financial plan? What ongoing fees will you be charged?  Do these fees include GST?