Three questions you can ask your Financial Adviser
When it comes time to ask for professional help with your financial plans, it can be a confusing choice.
Finding the right person to advise you is both a matter of confidence and a matter of trust.
Here are some questions we think you should be asking your adviser.
What is your experience?
Like any professional adviser, we think it is important that you choose someone with lots of experience in the area of advice you are seeking.
Good financial planners have experience, and you want the best possible advice when it comes to money and your financial future.
What are your results?
Opinions are one thing and advice is another, but what really counts are results. So, ask your planner the results they have delivered for clients. Don’t just accept what they say, find out how well they have done in getting results for their clients. This could be in a few different areas, such as growth or even risk mitigation in an investment portfolio, peace of mind for their clients or just really understanding what is happening with their financial circumstances and being able to better control them.
There has been significant performance in recent times in key markets. Sometimes this has less to do with the performance of the adviser or fund manager, a rising tide raises all ships so to speak. What counts is their ability to put you into the right strategies that suit your risk appetite, life stage amongst a whole lot of other elements.
3. What do you invest in?
Would you like to take advice from someone who puts their own money where their mouth is? We believe this is almost more important than any fees, or the source of an adviser’s fees (where they earn their money).
If you find someone who is an active investor themselves, and has achieved results for themselves, you can feel confident you are with the right person. Because they will understand your goals and will know how to help you achieve them.
On a final note, beyond the questions, there are other things we believe make a good financial planner.
How often do they contact you and keep in touch?
Do they have good information services and technology to support your plans?
Are they offering to educate you to ensure you know what is occurring with plans and investments?
Are they providing education events and value-add services?
Where do they earn their fees, and how transparent are they with you on the source of fees?
And finally, do you get on with them? Do you like them as a person?
A great financial planner will tick a lot of these boxes. We believe that this is what separates a professional from the average financial adviser or planner.
There are the three questions you can ask your Financial Adviser.
Reach out to organise a no-obligation meeting with a Finwell Group team member. We’d love to have a chat and answer these questions for you.
The information in this article is general in nature and does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions.