• Finding an adviser
• Selecting an adviser
• Preparing for your financial adviser

Selecting a financial adviser

As investment markets and insurance products grow ever more complex, it's becoming increasingly difficult to make the right financial choices without professional advice.

By consulting an experienced financial adviser, you can actively plan for your future rather than leaving it to chance.

But how do you find yourself a financial adviser who is qualified to meet your needs?

Selecting an adviser is one of the most important decisions you will make regarding your family’s financial future so you should take your time to check their credentials and experience. Personal recommendations from friends, family and colleagues can be a good way to find an adviser.

When selecting a financial adviser, you should consider a number of factors.

• They should be an Australian Financial Services Licensee or an authorised representative of a financial institution.
• They should be a member of a national body, such as the Financial Planning Association (FPA) or the Association of Financial Advisers (AFA), which enforces a code of ethics and rules of professional conduct and has the authority to investigate complaints and discipline its members.
• They should be qualified in all areas of financial advice and accredited to provide advice at the level you require.
• They should offer ongoing service and review your financial plan at least once a year.
• They should outline your proposed strategy in writing before you commit and make sure that you fully understand the implications.
• They should explain how they prefer to be paid for their services, including:
  1. charging fees for the work done (fee for service)
  2. receiving commission from financial institutions
  3. charging a scale of fees based on the total funds you invest
  4. combining fees and commissions.

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