Few steps to find a financial adviser

23 November, 2013

One of the best approaches for building wealth is to hire a financial advisers or planners. They help to set up investment plans, advice about insurances, estate planning and superannuation. You may be stuck with the thought: how to find a suitable financial adviser

Know what you need

Clearly understand what you require. Are you looking for a financial adviser for planning your retirement or building portfolio? What you need, is the starting point.

Know the credentials

Every financial expert cannot be financial planners. A planner should be a representative of AFSL. The two main professional associations for planners are the FPA and the AFA.

Financial Services Guide

Every financial planner has an FSG. FSG tells about the firm’s specialities and the profile of each planner. Read the FSG before hiring.

Meet your planner before hiring

You can shortlist candidates by having a telephonic conversation with them, but make sure to meet them, to know about their specializations and areas of expertise. Create a rapport with them and know about the fees, process and other procedures. You should also decide how you are going to communicate with them, during the rest of the year.

Fee structure

Most of the planners charge you for a fee, for their services. It embraces a statement of advice. It would cost around $800 to $ 3000. For the annual management of the portfolio, most of the firms charge around $1000 to $3000.


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