Financial planners are qualified professionals providing personal financial advice and actively managing your investment portfolio to safeguard against loss and create wealth.
By reviewing your financial and personal circumstances, as well as your future goals, a financial planner will build an investment plan to provide you with the lifestyle you want now and in the future.
Typically, there are two types of financial advice available.
General advice. It is accessible on verified websites and is free of charge. Such financial advice does not analyse your financial details.
Personal advice. It can be a single issue or for more ongoing or comprehensive matters. Financial planners can offer personal financial advice for which they charge you a fee.
How Can A Financial Planner Help?
A financial planner can:
- Assist you in applying for critical financial products such as income protection insurance, life insurance and superannuation.
- Actively manage your investment portfolio to ensure your finances are working towards your investment goals.
- Help you recognize your long term and short-term financial goals and provide recommendations about investment products suitable to your objectives and situation.
Selecting A Financial Planner
Independent operators, advisory services, law firms, financial institutions and banks can all offer professional financial advice. Here are some choices.
Adviser Ratings. It is an independent service where all certified financial advisers in Australia can be found. You can use the platform to review the client testimonials of prospective financial planners and narrow your search on an array of factors, including years of experience, location, and gender.
The Financial Planning Association of Australia (FPA). Through their Find A Planner service, you can search for certified financial planners in your region. Top-level members of FPA are accredited experts with professional qualifications and years of experience.
Look At The Financial Planner Register.
You can also leverage the ASIC financial planner register to cross-check a prospective planners’ work history, experience, and qualifications. The financial planner register gives you details on:
- About their Australian financial services (AFS) Licence.
- Financial planners’ area of expertise.
- Whether the planner received disciplinary action or complaint in the past.
- Their industry body membership.
Our Two Cents
When you are ready for a meeting, you can typically get a consultation free of charge. You can leverage this opportunity to check the planner’s FSG and consider the advice and planning services scope.
Our qualified financial advisers offer advice about debt consolidation, and they can help if debt management is part of your overall investment strategy. We can advise you on financial products and strategies that suit your circumstances.
