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10th February 2017 - Private Wealth
With significant changes to superannuation coming into play, the global economic unpredictability stemming from Brexit and the election of Donald Trump, 2017 is shaping up to be a rocky ride. A financial adviser can ensure you have a firm grip on your future and make the ride a little smoother. For that reason, it’s worth investing some time in finding the best person to help you manage your money. The following tips will help you select the right adviser for 2017 and beyond.
An adviser can take on clients with only minimum training under their belt. To make sure you are getting the best possible guidance, look for someone who holds, or is working towards their Certified Financial Planner qualification (CFP) or equivalent. Some advisers are also accredited to offer specific advice on various areas within the industry such as Self Managed Super Funds. It’s also important that your adviser is up to speed with any industry or regulatory changes that may affect you. Members of the Financial Planning Association and Self Managed Super Fund Association are required to complete ongoing professional development. You can check an adviser’s history, qualifications and current employment status on ASIC’s Moneysmart financial services register.
Try to get a feel for the type of clients the adviser usually deals with. This will help determine if they have experience in working with people at a similar life stage to you. It’s also useful to find out how much experience an adviser has. A recent graduate may be highly qualified but lack the runs on the board of a more experienced adviser with fewer qualifications.
Ultimately, you will know you are engaging the right adviser when you feel you can trust them. If an adviser spends the time to get to know you and your family, as well as listen and understand your personal requirements, you will find that the advice they provide will form the start of a long term trusted relationship.
Once you have a short list of advisers, read their financial services guide to confirm their licence number and to determine exactly what is being offered, the charges involved, and if the company the adviser works for has links to product providers. Many advisers are linked to banks, fund managers and life insurance companies and this can affect the services and products offered. Advisers who work for privately owned companies are generally able to provide advice without bias.
Elston is a privately owned and operated financial services company with highly qualified advisers providing specialist advice. To discuss your financial needs phone 1300 ELSTON or email info@elston.com.au.
This material has been prepared for general information purposes only and not as specific advice to any particular person. Any advice contained in this material is General Advice and does not take into account any person’s individual investment objectives, financial situation or needs. Before making an investment decision based on this advice you should consider whether it is appropriate to your particular circumstances, alternatively seek professional advice. Where the General Advice relates to the acquisition or possible acquisition of a financial product, you should obtain a Product Disclosure Statement (“PDS”) relating to the product and consider the PDS before making any decision about whether to acquire the product. You will find further details of the service we provide and any cost to you within the Financial Services Guide. Any references to past investment performance are not an indication of future investment returns. Prepared by EP Financial Service Pty Ltd ABN 52 130 772 495 AFSL 325 252 (“Elston”). Although every effort has been made to verify the accuracy of the information contained in this material, Elston, its officers, representatives, employees and agents disclaim all liability (except for any liability which by law cannot be excluded), for any error, inaccuracy in, or omission from the information contained in this material or any loss or damage suffered by any person directly or indirectly through relying on this information.
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