Choosing A Financial Adviser

It is of extreme importance to find the right financial adviser as your wealth is going to be in his hands. The right financial adviser can meet and grow your financial field to greater heights. Below we have listed down some key points to take you one step closer to find your ideal financial adviser.

• Check if your financial adviser is legitimate

Anyone and everyone who claims themselves as a financial adviser is not one. You have to work with a financial advising organisation or an individual who is registered with the ASIC and has the Australian financial services licence. This is extremely easy to check and we have made it easier by Linking the website right here i.e,  the ASIC Professional Registers Website.

It is crucial to know that being registered with the ASIC confirms legitimacy and does not guarantee quality advice.

• Getting Advisers who have experience in working with clients similar to you

If you are an individual, getting yourself a business financial adviser will go down the drain as the adviser will have no experience in working with individuals and would have only excelled in Corporates. To get in touch with such Advisers, you can always start by using references from friends who have already had a good relationship with an adviser.

• Read the financial services guide

When you have your meeting with your financial adviser, they always tend to give you the financial services guide first. Do not forget to go through that. This document has information regarding the services and products that that particular adviser can offer you along with customer service if you are not satisfied with their service. In case you have any questions regarding that, your adviser must be able to answer questions and explain it in much more detail in such a situation.

• Check if they own a financial advising firm

Majority of financial advising firms are actually completely or partially owned by insurance companies and banks. You will have to decide if you want to have an independent smaller practice or the one owned by a large company. Most of the dealers who appear to be independent are actually owned by banks.

• Your comfort level with the adviser

You will be dealing with your adviser for a very long time, so take some time and figure out if you are comfortable with your adviser. If you feel uncomfortable in an interview with one, do not worry. There are several good quality Advisers in Australia. But your relationship with them is key as they will be for a long term period and leave a strong impact on your finances.