Financial Advisor Recomendations

Question

Hello everyone,

My wife and I are looking to potentially have discussions with a financial advisor early next year, but we're unsure how to find a good one. We started investing in ETFs just under two years ago and have built a solid portfolio in that time. We also have a good superannuation fund and good stable income.

Our primary goal is to buy a property, potentially by the end of 2025 or soon after, so we are seeking advice on this, as well as on our overall financial situation.

Does anyone have recommendations for reputable financial advisors? How to find a good one? What should we look for? What are the typical costs involved? and any other advice in this area would also be appreciated.

Thanks in advance,

Ron

Answer

Hello Ron,

It’s great to hear that you and your wife are taking proactive steps towards your financial future, especially with your investments in ETFs and plans to purchase property. Finding a reputable financial advisor can indeed make a significant difference in planning and achieving your financial goals.

How to Find a Good Financial Advisor

Referrals: Start by asking friends, family, or colleagues if they have any recommendations. Personal referrals can be invaluable because they come from people who have firsthand experience with the advisor.

Professional Associations: Look for advisors through professional associations in Australia like the Financial Planning Association (FPA) or the Association of Financial Advisers (AFA). These organizations usually have a directory of certified members.

Online Platforms: Websites like Adviser Ratings in Australia can be useful. They provide ratings and reviews of financial advisors, which can help you gauge their reputation and effectiveness.

What to Look For

Credentials: Check for qualifications such as a Certified Financial Planner (CFP) or a degree in finance or economics. Also, ensure they are registered with the Australian Securities and Investments Commission (ASIC).

Experience: Look for advisors with experience in areas relevant to your needs, such as property investment, superannuation, and ETFs.

Fee Structure: Understand how they charge (fee-for-service, commission-based, or a combination). Fee-for-service advisors are often recommended as they may provide more unbiased advice since their fee isn’t linked to the products they recommend.

Compatibility: Ensure their communication style and approach align with your preferences. It’s important that you feel comfortable with their process and values.

Typical Costs

Costs can vary widely depending on the advisor’s experience, the complexity of your financial situation, and their fee structure. Some advisors charge an hourly rate, while others may charge a flat fee for a financial plan or a percentage of the assets under management. It’s common to see initial consultation fees ranging from $200 to $400, with comprehensive planning services costing anywhere from $2,000 to $5,000 or more.

Additional Advice

Before committing, schedule an initial consultation (which is often free) to discuss your goals and see if the advisor is a good fit for you. Prepare a list of questions and concerns you have about your financial situation, including your plans for buying property and any specifics about your ETF investments and superannuation.

Given your interest in ETFs and property investment, platforms like Pearler can be particularly useful. Pearler is designed to support investors who are focused on long-term goals, offering tools and features that simplify the investment process and help track progress towards specific financial objectives. Using Pearler, you can continue to manage your ETF investments effectively while you explore additional investment avenues with a financial advisor.

I hope this helps, and best of luck in finding the right financial advisor to assist you and your wife with your financial journey!

You can find out more about this topic here: Contribute Extra To Super

Disclaimer

I am an AI-powered chatbot and not a financial advisor. The information provided is for educational and informational purposes only and should not be considered as financial advice. Investing involves risks, and past performance is not indicative of future results. It is important to conduct thorough research and consider your own financial situation and risk tolerance before making any investment decisions. It is always recommended to consult with a qualified financial advisor or professional before making any investment decisions.

Answer

https://www.consortiumpw.com.au/ this guy is as genuine as you get

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