logging in or signing up How to choose a financial planner simplewealthguy Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 43 Category: Education License: All Rights Reserved Like it (0) Dislike it (0) Added: December 23, 2011 This Presentation is Public Favorites: 0 Presentation Description How to Find a Financial Planner at http://www.simplewealth.com.au Finding the right Financial Planner can be a daunting task. Here are a few tips to help you on your way. Comments Posting comment... Premium member Presentation Transcript HOW TO CHOOSE A FINANCIAL PLANNER: HOW TO CHOOSE A FINANCIAL PLANNERFinding a Financial Planner is not an easy task : Finding a Financial Planner is not an easy task You are out there trying to find someone who you can trust to manage your superannuation or life savings and relying on their expertise to help you achieve your financial goals: You are out there trying to find someone who you can trust to manage your superannuation or life savings and relying on their expertise to help you achieve your financial goals You are unlikely to have ever met them so unless they were referred by friends or colleagues, you’ve probably never even heard of them : You are unlikely to have ever met them so unless they were referred by friends or colleagues, you’ve probably never even heard of them So where do you start? The Financial Planning Association has published a guide which is quite informative but here are a few tips to help get you started : So where do you start? The Financial Planning Association has published a guide which is quite informative but here are a few tips to help get you startedThe first thing you need to do is shop around! : The first thing you need to do is shop around! Interview a few advisers until you find someone you feel comfortable with : Interview a few advisers until you find someone you feel comfortable with Most advisers will offer a free initial consultation to find out what it is that you are looking for. Take this time to ask questions about them and the organisation that they are working for : Most advisers will offer a free initial consultation to find out what it is that you are looking for. Take this time to ask questions about them and the organisation that they are working forOne of the first things that you want to ask is What are your Qualifications? Entry requirements to financial planning can be very basic : One of the first things that you want to ask is What are your Qualifications? Entry requirements to financial planning can be very basic A good start is to look for an adviser who has the Certified Financial Planner Designation (CFP) : A good start is to look for an adviser who has the Certified Financial Planner Designation (CFP)Certified Financial Planner is the highest designation an adviser can achieve and is recognized worldwide : Certified Financial Planner is the highest designation an adviser can achieve and is recognized worldwideIt means that the adviser has completed a course of study well above the minimum required by law and that they are bound by the Financial Planning Associations Code of Ethics and Professional Standards of Behaviour : It means that the adviser has completed a course of study well above the minimum required by law and that they are bound by the Financial Planning Associations Code of Ethics and Professional Standards of BehaviourSecondly, find out how they are remunerated : Secondly, find out how they are remuneratedThey may charge you a fee for service like your accountant or lawyer or they may charge a fee based on the value of investments they manage for you : They may charge you a fee for service like your accountant or lawyer or they may charge a fee based on the value of investments they manage for you Some may use a combination of both. Other advisers may charge you little or nothing initially but receive their revenue from the product providers that they invest your funds in : Some may use a combination of b oth. Other advisers may charge you little or nothing initially but receive their revenue from the product providers that they invest your funds in I’d believe that this is the least preferred method in my opinion for two reasons: I’d believe that this is the least preferred method in my opinion for two reasons1. Not all commissions are created equal and you might find yourself in an investment that is great for the adviser but not so good for you and: 1. Not all commissions are created equal and you might find yourself in an investment that is great for the adviser but not so good for you and2. In the latest survey by ASIC on the quality of financial advice, it was found that advice provided by commission advisers was generally of a lower quality than that provided by their non-commission colleagues : 2. In the latest survey by ASIC on the quality of financial advice, it was found that advice provided by commission advisers was generally of a lower quality than that provided by their non-commission colleaguesThe third piece of information I suggest you find out is who ultimately owns the financial organisation that you are considering dealing with : The third piece of information I suggest you find out is who ultimately owns the financial organisation that you are considering dealing with Almost 70% of advisers work for an organisation that is either directly or indirectly owned by a bank, insurance or other financial institution : Almost 70% of advisers work for an organisation that is either directly or indirectly owned by a bank, insurance or other financial institution This is not necessarily a bad thing in itself however, you need to be aware that advisers may be incentivized for recommending their parent companies products : This is not necessarily a bad thing in itself however, you need to be aware that advisers may be incentivized for recommending their parent companies productsLastly, find out what you are getting for your ongoing fees! : Lastly, find out what you are getting for your ongoing fees! The adviser should be able to clearly articulate their ongoing service package : The adviser should be able to clearly articulate their ongoing service package You need to establish that you are getting value for money as well as an appropriate level of adviser / client engagement : You need to establish that you are getting value for money as well as an appropriate level of adviser / client engagementThis is by no means an exhaustive list of questions that you should ask prospective advisers however I hope it provides you with a good starting point : This is by no means an exhaustive list of questions that you should ask prospective advisers however I hope it provides you with a good starting pointFor more helpful tips and interesting information regarding financial planning and investing, click on the link below www.simplewealth.com.au or put the address into your browser: For more helpful tips and interesting information regarding financial planning and investing, click on the link below www.simplewealth.com.au or put the address into your browser You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.
How to choose a financial planner simplewealthguy Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 43 Category: Education License: All Rights Reserved Like it (0) Dislike it (0) Added: December 23, 2011 This Presentation is Public Favorites: 0 Presentation Description How to Find a Financial Planner at http://www.simplewealth.com.au Finding the right Financial Planner can be a daunting task. Here are a few tips to help you on your way. Comments Posting comment... Premium member Presentation Transcript HOW TO CHOOSE A FINANCIAL PLANNER: HOW TO CHOOSE A FINANCIAL PLANNERFinding a Financial Planner is not an easy task : Finding a Financial Planner is not an easy task You are out there trying to find someone who you can trust to manage your superannuation or life savings and relying on their expertise to help you achieve your financial goals: You are out there trying to find someone who you can trust to manage your superannuation or life savings and relying on their expertise to help you achieve your financial goals You are unlikely to have ever met them so unless they were referred by friends or colleagues, you’ve probably never even heard of them : You are unlikely to have ever met them so unless they were referred by friends or colleagues, you’ve probably never even heard of them So where do you start? The Financial Planning Association has published a guide which is quite informative but here are a few tips to help get you started : So where do you start? The Financial Planning Association has published a guide which is quite informative but here are a few tips to help get you startedThe first thing you need to do is shop around! : The first thing you need to do is shop around! Interview a few advisers until you find someone you feel comfortable with : Interview a few advisers until you find someone you feel comfortable with Most advisers will offer a free initial consultation to find out what it is that you are looking for. Take this time to ask questions about them and the organisation that they are working for : Most advisers will offer a free initial consultation to find out what it is that you are looking for. Take this time to ask questions about them and the organisation that they are working forOne of the first things that you want to ask is What are your Qualifications? Entry requirements to financial planning can be very basic : One of the first things that you want to ask is What are your Qualifications? Entry requirements to financial planning can be very basic A good start is to look for an adviser who has the Certified Financial Planner Designation (CFP) : A good start is to look for an adviser who has the Certified Financial Planner Designation (CFP)Certified Financial Planner is the highest designation an adviser can achieve and is recognized worldwide : Certified Financial Planner is the highest designation an adviser can achieve and is recognized worldwideIt means that the adviser has completed a course of study well above the minimum required by law and that they are bound by the Financial Planning Associations Code of Ethics and Professional Standards of Behaviour : It means that the adviser has completed a course of study well above the minimum required by law and that they are bound by the Financial Planning Associations Code of Ethics and Professional Standards of BehaviourSecondly, find out how they are remunerated : Secondly, find out how they are remuneratedThey may charge you a fee for service like your accountant or lawyer or they may charge a fee based on the value of investments they manage for you : They may charge you a fee for service like your accountant or lawyer or they may charge a fee based on the value of investments they manage for you Some may use a combination of both. Other advisers may charge you little or nothing initially but receive their revenue from the product providers that they invest your funds in : Some may use a combination of b oth. Other advisers may charge you little or nothing initially but receive their revenue from the product providers that they invest your funds in I’d believe that this is the least preferred method in my opinion for two reasons: I’d believe that this is the least preferred method in my opinion for two reasons1. Not all commissions are created equal and you might find yourself in an investment that is great for the adviser but not so good for you and: 1. Not all commissions are created equal and you might find yourself in an investment that is great for the adviser but not so good for you and2. In the latest survey by ASIC on the quality of financial advice, it was found that advice provided by commission advisers was generally of a lower quality than that provided by their non-commission colleagues : 2. In the latest survey by ASIC on the quality of financial advice, it was found that advice provided by commission advisers was generally of a lower quality than that provided by their non-commission colleaguesThe third piece of information I suggest you find out is who ultimately owns the financial organisation that you are considering dealing with : The third piece of information I suggest you find out is who ultimately owns the financial organisation that you are considering dealing with Almost 70% of advisers work for an organisation that is either directly or indirectly owned by a bank, insurance or other financial institution : Almost 70% of advisers work for an organisation that is either directly or indirectly owned by a bank, insurance or other financial institution This is not necessarily a bad thing in itself however, you need to be aware that advisers may be incentivized for recommending their parent companies products : This is not necessarily a bad thing in itself however, you need to be aware that advisers may be incentivized for recommending their parent companies productsLastly, find out what you are getting for your ongoing fees! : Lastly, find out what you are getting for your ongoing fees! The adviser should be able to clearly articulate their ongoing service package : The adviser should be able to clearly articulate their ongoing service package You need to establish that you are getting value for money as well as an appropriate level of adviser / client engagement : You need to establish that you are getting value for money as well as an appropriate level of adviser / client engagementThis is by no means an exhaustive list of questions that you should ask prospective advisers however I hope it provides you with a good starting point : This is by no means an exhaustive list of questions that you should ask prospective advisers however I hope it provides you with a good starting pointFor more helpful tips and interesting information regarding financial planning and investing, click on the link below www.simplewealth.com.au or put the address into your browser: For more helpful tips and interesting information regarding financial planning and investing, click on the link below www.simplewealth.com.au or put the address into your browser