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How can I choose the right financial planner?

Financial Planning  |  11/04/2016  |   2 min read

Whether you’re just entering the workforce or thinking about retirement, a qualified financial planner can help you identify opportunities and grow your wealth.

But how do you find a planner you can trust, and what kind of questions should you be asking? We’ve compiled a guide to help you get started, and make an informed choice about your money management.

Know your planners areas of expertise

Many financial planners have specialist knowledge in a particular area. So it’s important to find one whose expertise matches your needs. Whether you’re looking for advice on retirement planning, superannuation, aged care or investments, you want someone who knows the regulations and opportunities back to front. You can learn more about Equip’s financial planning team (and their expertise) here.

Ensure they’re registered with Financial Planning Association (FPA)

The FPA is the professional association for financial planners in Australia. Members of the FPA are obligated via strict and ethical criteria to offer professional advice that puts your needs and interests first. If you have any doubts or concerns regarding a planner’s credibility, check the FPA’s online directory to see if they are listed as a member. You can view our planners’ credentials here.

Ask about qualifications and experience

A ‘Certified Financial Planner’ is the highest financial planning qualification. It is internationally recognised, and will often be noted on the FPA website or on the planner’s online profile. Several of our planners have earned this qualification, including Camille, Steve, Neil, Jason and Matt.

Understanding fees and charges

A good financial planner should inform you about fees and ongoing charges upfront. That being said, the complexity and scope of the advice being offered will have a significant impact on the price. Before you enter into any plan, make sure you fully understand the strategy and the service you’re going to receive.

Ensure they’re independent

An independent financial adviser doesn’t take any commissions from third parties. That means they can recommend the products best suited to your needs without any conflict of interest. Always ask your planner how they’re compensated, and if they take any commission fees. 

Make sure you feel comfortable

It should go without saying that you need to trust and feel comfortable with your financial planner.  At the end of the day, you’re looking for someone to manage both your money, and your long term life goals. That means being able to communicate your needs, and work side by side.

How Equip Financial Planning can help you get started:

If you’re ready to talk to someone, Equip’s highly qualified and professional financial planning team can help. Give us an obligation free call on 1800 065 753 to find out more about the services we offer, and how they can help you build wealth, and do the things you love.

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