Jonathan Cattana : An adviser should provide detailed advice around:
• General banking matters, debt management such personal, investment and home loans
• Wealth accumulation – various strategies and options
• Comprehensive advice on all investments including direct investments
• Cash flow management
• Debt reduction solutions.
• Retirement strategies
• Personal risk protection.
• Be able to identify a tax situation or consequence and then refer them to an accountant.
• Understand estate planning issues and discuss how to best deal with them.
Importantly, there must be mutual respect and liking between adviser and client. I have no interest in how much money someone has to invest if they don’t first adopt the attitude of listening to what my advice will be. If you think you can do it all yourself, then an adviser is not for you.
So, is it hard to find an adviser? What is a good test? The following are some key areas for you to consider when interviewing your financial adviser.
• Attend one of the many free seminars that are always offered by financial advisory firms.
• Ask for a referral from a friend
• Ask your accountant or another professional body.
• Visit the Financial Planning Association’s website (see the Resources section of this book).
Things you should look for in a financial planner
Their client focus – Your adviser should be focused on doing the best for you, the client. Make sure the adviser is really trying to get to know you and your current situation. Find the adviser who will sit down with you for at least two or possibly even three meetings to make absolutely sure they understand your needs. A financial planner cannot expect to know all your financial fears, concerns and aspirations and whatever it is that drives you everyday of the week in just one meeting.
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