Frequently asked questions

WHY WOULD I NEED TO SEE A FINANCIAL ADVISER?

Similar to a doctor who provides you guidance and a solution to your health issues, a Financial Adviser is the same for your finances however, you can also benefit from a Financial Adviser even if your finances are healthy, as the 2nd opinion, objective assessment and expert knowledge can add even more value to your current situation.

HOW MUCH MONEY DO I NEED TO ENGAGE WITH A FINANCIAL ADVISER?

There is no minimum amount to see an adviser as it is generally based on a scope of work engagement. Most Advisers allow one introduction meeting at no charge to you (the length of this meeting can vary). Once the adviser understands your situation and what you are after, they can ascertain if they are the right fit and if they are, they can provide an indicative range of fees to address the scope of work. You won’t pay a fee until you agree to this. This is similar to other professional services you would be familiar with.

WHEN IS the BEST TIME TO GO SEE A FINANCIAL ADVISER?

When there has been a change or an upcoming change in your circumstances. These are quite common, and most times are good times to engage a Financial Adviser. Some examples might include, changing jobs, buying a property, getting married, starting a family, separations, starting a business, receiving an inheritance, retiring or planning for retirement.

CAN A FINANCIAL ADVISER HELP ME IF I HAVE LOTS OF DEBT?

Yes, debt is one of many aspects of your situation a Financial Adviser can assist with.

WHAT IS A GOALS COACH?

A Goals Coach is somebody that helps clarify what your goals actually are and works backwards from these goals to determine what challenges may lie ahead and therefore what actions need to be taken to achieve your goals.

WHY IS IT IMPORTANT TO GET ASSISTANCE FRoM A FINANCIAL ADVISER?

Like most professionals a Financial Adviser lives and breathes all relevant aspects of their profession. A Financial Adviser takes on the burden of handling your finances so that you can focus on what you love and become the best you can be. Having a Financial Adviser ensures you are on track to achieve your financials goals and ensures that changes in your circumstance or legislation does not adversely affect your ability to achieve all that you want out of life.

I NEED HELP WITH MY FINANCES BUT CAN’T AFFORD A FINANCIAL ADVISER

Most Financial Advisers allow one introductory meeting at no charge to you (the length of this meeting can vary). Once the adviser understands your situation and what you are after, they can ascertain if they are the right fit for you and provide a guide of the costs. The costs then need to be compared to the value you want and then you can make an informed decisions of whether you proceed to take advice or not.

DO I NEED ONGOING ADVISER PLAN OR CAN I DO A ONCE OFF SERVICE?

This depends on the adviser however, there is no ongoing obligation for you to keep getting advice. Once you feel you are on track to take the reins yourself you can end the relationship/ongoing agreement. We find that most clients still choose to have an ongoing relationship with a Financial Adviser due to the ongoing value they get.

HOW DO I KNOW I HAVE A REPUTABLE FINANCIAL ADVISER?

There are a few things to look out for, firstly to ensure they are a registered Financial Adviser as per the government register Financial advisers register - Moneysmart.gov.au. Once you have established, they are a legitimate Financial Adviser you can look at various websites to get a feel of their credibility , these include, Find a financial planner - The Financial Planning Association of Australia (fpa.com.au), Adviser Ratings find an adviser and The Best Financial Planners and Advisors in Perth in 2022.

HOW WILL I BE KEPT ACCOUNTABLE AND MAKE SURE I’M ON TRACK AFTER RECEIVING MY ADVICE?

For ongoing accountability, you would agree to ongoing advice, this is normally a 12-month contract and ensures your Adviser meets with you and provides guidance on if you are on track, not on track and what needs to be done. During these 12 months there may be a list of action items to be completed and the Adviser would keep you accountable to ensure they are done. Near the end of this 12 months there is a meeting to identify what the next 12 month’s milestones are and if you want the ongoing accountability and advice, you will sign another 12-month contract.

WHAT SERVICES DO FINANCIAL ADVISERS OFFER?

Cash flow management, budgeting, debt management, investment set up, management and planning, asset structuring and protection planning, superannuation, retirement planning, personal insurances, estate planning, projection management.