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. Please also read the RACQ Band disclaimer below.

RACQ Financial Planning Pty Ltd is a Corporate Authorised Representative (Representative No. 293929) of Actuate Alliance Services Pty Ltd, AFSL 240959, ABN 40 083 233 925 (Actuate). Actuate is a wholly owned subsidiary of IOOF Holdings Limited ABN 49 100 103 722. This document contains general advice and/or information prepared without taking into account any persons’ investment objectives, financial situation or needs. Investors should consider whether any general advice is appropriate having regard to their financial objectives, situation or needs.