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Choosing The Right Financial Advisor To Help You Make The Most Out Of Your Assets

If you are part of the 50% of Australian adults who feel like their financial needs have not been met and have decided to act on that, you’re at the right place! Once you decide to work with a financial advisor to help you meet your financial goals, the next challenge is finding the right advisor.

While there are many financial advisors in Melbourne to choose from, you want to be sure you pick the right one for you since everyone’s financial needs are different. That’s why we have compiled this quick guide with tips to help you choose the best advisor for you.


Check The Qualifications

Anyone who gives financial advice to clients must be registered with the Australian Securities and Investments Commission (ASIC) and should have an active license. It is crucial to make sure all the financial advisors you are considering have an Australian Financial Services (AFS) license, too.

A quick way to gather information about a financial advisor in Melbourne you are considering is to visit this link and search for the advisor by name, number, or ABN. This search should give you all the necessary information you need, including their qualifications, if they have been banned, etc.

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Consider What Services You Want From Your Financial Advisor

There are many aspects when discussing finance, and not all financial advisors will be experts in providing every service. Some advisors may not provide certain services altogether. Therefore, to ensure your specific needs are met, you might want to think about what aspects of your finance you need an advisor to help you with and look for an advisor who has the experience and the expertise you are looking for.

Here Is A List Of Some Of The Services You Might Require From A Financial Advisor:

  • Estate planning
  • Advice on investing
  • Insurance planning
  • Retirement planning
  • Funding education
  • Budgeting advice
  • Tax planning

Know What The Financial Adviser Offers

The best way to learn more about how a financial advisor operates is to look at their Financial Service Guide (FSG). The Financial Services Guide will contain details such as the services the advisor offers, how and how much the advisor charges you, and details regarding if they work with a company or independently, who owns the company, and more. You should find the Financial Services Guide on the adviser’s website. Otherwise, ask them for a copy.

Meet With The Financial Advisors

Keep in mind that you will be sharing both financial and non-financial information with your financial advisor. Therefore, you must be comfortable sharing information with them and trusting their abilities.

The best way to determine if they will work well with you is to meet them and ask questions about what financial planning with them might look like. Go all out with the questions! You can ask them anything from how frequently they will reach out to how to end your contract with them.

Ask Former Or Current Clients About Their Experience

Just like how you go through reviews online before deciding to buy a product, it’s a good idea to reach out to people who have worked with the advisor to ask about their experience. With many choices for financial advisors in Melbourne to choose from, any reassurance to help you know whether you are making the right choice is always encouraging.

That’s it! Now that you know the basics of how to choose a financial advisor in Melbourne to fit your needs, you’re all set to start exploring your options!

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