What you need from an adviser
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What to ask |
What to listen for
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| Personal experience in successfully advising people like you |
How long have you been giving financial advice? |
The more experience the better. |
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What area of financial advice do you specialise in?
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Experience in areas that concern you: eg. Taxation, superannuation, retirement. |
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What kind of clients do you mostly see? |
People with concerns like your’s.
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Are there any financial products you don’t advise on? |
Any that affect you |
| Someone who puts your needs first |
How do you gain an understanding of a new client? |
Aims to get a full picture of your circumstances and needs. Will ask you a lot of questions. Will probably need a separate appointment to do this. |
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How do you need with a client who may have conflicting financial objectives? |
Will explain and discuss choices with you. Then does research and prepares advice for you to take away and consider. |
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How do you choose the investments you recommend? |
Personalised plan that meets your specific needs. Independent approach to recommending investment products.
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| Qualified to advise you |
What qualifications do you have? |
Qualifications in finance, economics, accounting, or financial planning. |
| Reasonable fees |
How much is this advice likely to cost? |
Clear explanation of fees and commissions the adviser receive and a general explanation about any likely product fees. |
| High professional standards |
How do you keep up to date with industry standards and news? |
Attends courses and training run by universities, Finsia, FPA. Member of FPA, stockbrokers’ professional body, Finsia etc. |
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What is your source of research? |
Comprehensive research facilities and access to up to date financial information |