Finally, you have decided to get your finances sorted out with the help of a financial adviser – that’s good! A financial expert can help you with many aspects involving your finances, like your retirement, investments, savings, and a lot more. You will be informed of specific strategies that will suit your needs. But did you know that there are actually different types of financial advisers?
Types of Financial Adviser
There are two types of financial advisers today:
- Independent Financial Advisers: They are professionals that provide unbiased advice about a wide range of financial products from various companies.
- Restricted Advisers: These are advisers who specialise in one area and may only offer advice on products offered by some companies.
How to Know if the Advice is Right for You
There are ways you can check you’re getting the right financial advice. For one, the products recommended to you must be catered to your unique needs. Your chosen adviser should consider your short-term and long-term goals carefully when assessing your financial needs.
Next, the financial product offered to you must suit the amount of risk you’re willing to take. If you notice the adviser doesn’t consider these matters, then you may not be with the right one.
How to Find the Right Financial Adviser
Now, when you’re ready to find a financial adviser, here are some things you need to remember:
- Make sure you’re working with a qualified financial adviser.
- Always take notes of the things that are discussed at the meeting.
- Ask questions and make sure you understand everything.
- Take time to think about any decisions.
- Look at product comparisons.
- Be prepared to provide honest answers.
- Make sure your personal information will be kept confidential.
- Look at the ongoing support you will receive as a client.
Aside from all these things, you also need to think about what kind of advice you need. Doing so will help you find the right financial adviser for you.
Let’s say you’re planning for retirement, then it only makes sense you speak with a financial adviser who specialises in this aspect. On the other hand, if you’re looking for the best personal insurance plan, then you should discuss this with a risk adviser.
You also need to do your part. For example, if your goal is planning for your retirement, you need to look into your life and work out the things you need to plan for financially. In the case of investments, make sure you have spare money to use for investment. Be prepared – get all of your financial statements together so you can provide a full picture of your assets, liabilities and cash flow.
Partner with Us and Stay on Track with Your Financial Decisions!
We all want to be financially stable, and that involves making the right decisions. However, there are times when you just hit a brick wall and don’t know what to do with your money. That’s where financial advisers come into the picture. Yes, they can help you out significantly, but you need to know some things to ensure you’re getting the best one for your needs.
Are you ready to get financial advice on the Central Coast today? Central Coast Financial Planning Group has financial advisers to help manage your money and assist you in making sound financial decisions. Contact us today on 02 4323 2877 to book a complimentary appointment.
Disclaimer: The views expressed in this publication are solely those of the author; they are not reflective or indicative of RI Advice Group’s position and are not to be attributed to RI Advice Group. They cannot be reproduced in any form without the express written consent of the author. This information (including taxation) is general in nature and does not consider your individual circumstances or needs. Do not act until you seek professional advice. Newcastle Financial Planning Group, Central Coast Financial Planning Group, Sydney Wealth Advisers, Coastal Advice Port Macquarie and Coastal Advice Ballina Byron are subsidiaries of Coastal Advice Group which is a Corporate Authorised Representative of RI Advice Group Pty Ltd, ABN 23 001 774 125 AFSL 238429.