Your Finances
Choosing a financial planner
Feedback
Selecting the right financial planner for your own situation is essential. They provide information on retirement planning, wealth management, savings planning, superannuation, banking, portfolio administration, advice on managed funds and the wealth of financial products available in the marketplace. The following are some tips to selecting planners and purchasing a financial plan, as it is as critical a decision as buying a house, so you should shop around.
Select a licensed Financial Planner who can provide you with a Financial Services Guide and make sure that they can provide you with the services you require after you have explained your financial situation to them.
If you are unsure or want to check if a company or representative is licensed, go to the Australian Securities and Investments Commission and search on the AFS Authorised Representatives Register.
You can search for a financial planner on the website for the Financial Planning Association of Australia Limited. It provides full contact details for all registered Financial Planners in the country.
On an initial appointment with a planner, ask them:
- Do they have an Australian Financial Services License (AFSL)
- Can they place funds with any company or are they tied to a specific organisation or group
- What their commissions are for financial products
- What are the charges to you
- What are the implications to any pensions/benefits you receive.
Visit at least three financial planners and compare each plan before making a decision.
