Find the right financial planner

How to find the right financial planner for you.

Find the right financial planner

The non-negotiables

  • Make sure any financial planning professional you are considering has the following three qualities:
  • A licence to provide financial advice. Ensure any planner you're considering works for a firm that operates under an Australian Financial Services (AFS) Licence issued by the Australian Securities and Investments
  • Commission (ASIC). Verify their licence by checking ASIC's Financial Adviser register.
  • Professional membership. Members of a professional body, such as the Financial Planning Association (FPA), must meet stricter criteria and higher standards than currently required by law.
  • Education. Make sure your financial planner is properly qualified and trained to provide you with financial advice.

Other tips

  • Ask family and friends. Word of mouth and the experience of people you trust counts for a lot.
  • Go with your gut. If you meet with three planners and they are all of similar capabilities, but you feel more aligned with one, that may be the right adviser for you.
  • Look for experience with your demographic. Don't be afraid to ask about the kind of clientele they deal with most frequently.
  • Red flags. Keep a wide berth of any financial advisers that seem to be focused on selling products. A good planner should focus on your personal situation and offer tailored financial advice.

 

Adapted from the Financial Planning Association of Australia’s Money & Life eBook and reproduced with permission.

The information in this article has been prepared for general information purposes only and not as specific advice to any particular person. Any advice contained in the document is general advice and does not take into account any person's particular investment objectives, financial situation or needs.  Before acting on anything based on this advice you should consider its appropriateness to you, having regard to your objectives, financial situations and needs.