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A Quick Guide to Choosing a Suitable Financial Advisor – Melbourne

Posted by Matt Hale

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Who doesn’t want a secure financial future? You certainly would not want to work for the rest of your life, would you? And at some point, you might also want to acquire assets, like a beachfront cottage or a new business. The trouble is that you just don’t have the tools to achieve such goals. 

This is where a financial advisor comes in. Clearly, saving money in the bank and dealing with bills and mortgages (on top of your kid’s education) have prevented you from managing your finances. With the help of a financial advisor, Melbourne residents like you can make profitable investments that achieve your financial goals. You’ll also receive financial planning that allows you to enjoy life without sacrificing your future. 

But first, you need to find a suitable financial advisor. Here’s a quick guide to help narrow down your choices.

Look into professional association and credentials.

Every financial advisor not only needs to have accomplished the relevant education (advanced diplomas in financial planning and accounting might help you get more suitable advice) but also have legitimate association with industry organisations. Associations require members to get ongoing training and follow a code of conduct, both of which mean you’ll deal with above board financial advisors. These associations also have a structure for managing complaints.

Check licences and other pertinent details on the registry.

The Australian Securities and Investment Commission will have a financial advisers register. Here you can take a look at your potential adviser’s experience and employment history. You can also find out if any disciplinary actions have been taken against the advisor. And you can also verify the advisor’s licence; you need to do this because professionals handling financial advice and planning are required to have one under the law.

Enquire about and compare financial services.

Financial needs and goals differ with each client. You might have a growing family and need to plan for such to meet your responsibilities. You might be a bachelor looking to plan for your retirement. You might own a business and need to manage finances for growth. 

Whatever your needs and goals are, make sure that the services of your financial advisor are a perfect match.

Look into their track record.

Finally, the best way to gauge your potential financial advisor’s capabilities is to see what he or she has done for previous and existing clients. How has life changed for other clients when the best financial advisor provided a customised road map for making investments and deciding on options for retirement funds? Great results for others mean great results for you, too.

You can achieve financial security today. Whether your goal is to have a handsome retirement nest egg or to live a debt-free life, let a suitable financial advisor guide you.