JoshChoosing to invest in a financial planner is one of the best decisions you’ll make for your future. There are so many ways in which a financial planner can help you, from providing a clear outline of how you can manage your money over the coming years to see the greatest return, through to the accountability you may need to reach those goals. Choosing the right financial planner for you is an important part of building your financial plan, so read on for my top 4 tips for choosing a financial planner that’s best going to meet your needs:
1. Ensure Your Planner is Legitimate
Each country will have it’s own specific set of rules and regulations to be a certified financial planner. Ensure the planner you’re considering meets those minimum requirements for registration your region. It’s the first step in ensuring they’re a legitimate planner and that they have invested the necessary time to get certified. The Best Financial Planners in Australia will be registered with ASIC and they’ll have an Australian Financial Services Licence (AFSL).
2. Ask What Clients They’ve Served Like You
One of the best ways to get started with a financial planner is through a personal recommendation. If your friends have had good success with someone, then there is a good chance they may be a decent choice for you.
However if you’re starting from scratch, with no leads, one of the best things you can do is ask the prospective planner about their experience with clients like you. If you’re young, with a decent income and not a lot of assets, the kind of planning advice you need will differ considerably from someone with millions in assets and on the brink of retirement. Having a financial planner with proven experience and results for people with similar financial situations as yourself is a good indication that they could be a good fit for you.
3. Trust Your Intuition
Your gut instinct with someone is generally right. If you meet with a financial planner and instantly feel confident and ensured that they have your best interests at heart and the knowledge the correctly guide you, then there’s a good chance that could consider working with them. Conversely if you meet someone and you instantly feel cautious and uncomfortable, but have had really good references about them, then you should also pay attention to your gut feeling, despite the good references.
4. Look Into Who Owns the Firm
Most financial planning firms are owned by a bigger bank or company. Take a moment to research who owns the firm you’re considering working with to see if it’s a larger company that you know about and trust. There are smaller independent practices out there, so just do your due research to see who you’re actually working with and if you’re comfortable working with them.
Choosing a financial planner is one of the best choices you can make for you and your family. Hopefully these tips help ensure you choose one that you’ll be happy with and see great results from.
