Since you’re here, this is a great question. A good financial planner should be firstly listening to your needs, objectives and your ideas. They will take this and blend it with opportunities within the financial services system and regulatory environment.
A financial planner is looking out for your short, medium and long-term situation.
Most financial plans I action are centred around:
- Investing lump sums e.g. inheritances, savings
- Taking control of your Superannuation e.g. consolidating policies
- Ensuring that you have Personal Insurance to protect you and your family
- Making contributions to Superannuation
- Access to Superannuation
- Retirement strategies e.g. income streams
- Consideration of various aspects of tax.
- Ensuring the money you have is invested suitably.
We have a different skillset, qualification, and different authorisations. An accountant will be able to negotiate your ‘tax’ opportunities, and obligations over the short term.
I encourage all clients under retirement age to have an accountant who can actively support both their short and long term needs.
The Royal Commission into Banking and Financial Advice beautifully put an end to the concept of the Financial Planning Industry doing things for their own gain.
I am proud of what our industry has become in its steps to solidify itself as a profession. We have a professional Code of Ethics, which interestingly features the concept of acting in the Best Interests of you: the client and prohibits conflicts of interest.
The investment, superannuation, and pension products that I recommend do not have any hidden commissions or incentives for me to recommend them.
I will recommend products that are high calibre, trustworthy, and where they meet your needs and objectives, are considered in your Best Interests’.
In this, we are proud to be able to use a wide Approved Product List.
Well, it depends.
I will always agree the fee with you, similar to what a lawyer does before I commence work for you. Each plan is tailored to our discussions, and opportunities, but the process on we embark together will always have the same backbone.
This process has been developed through regulatory instruments to ensure that your financial plan is well researched, documented, and implemented.
I have twenty years experience, a Graduate Diploma of Financial Planning, a professional licence, and a refined network to be able to offer professional financial services.
We are an ambulant business so we can meet anywhere!
We also have the option of meeting virtually.
Financial Advice has many different components, and it is important to understand that it’s not a singular consideration, all financial planners are not the same, nor produce the same financial advice.
Financial Advice is an umbrella word to describe what happens when your circumstances, needs, objectives, opportunities, and investment attitudes are developed into a course of action.