7 Step Checklist: What to ask when you meet with a financial planner Step 1: Planner presents their credentials Check their licensing credentials and Financial Services Guide (FSG), which should be listed on their website.
TIP: Only deal with a Financial Planner who is a licensed, authorised or certified representative. You can check a planner’s licensing records on www.asic.gov.au They must also provide you with a Financial Services Guide (FSG) which states their relevant qualifications, licence number and the adviser’s fees.
Step 2: You outline your current position and goals for the future When you meet with the financial planner, they will need to find out more about you. They will ask all sorts of questions, so they can get to know you and where you are at in life with your financial affairs. This process is often called the “fact finding” stage. You will need to be prepared so that you can answer these questions. You might want to bring copies of your recent financial statements along to the meeting – bank account statements, credit cards, home loan, personal loan, car loan, HECS debt or study loan, superannuation fund statement, and life insurance details.
TIP: To ensure you get the most out of this first meeting, think about your financial goals or wish-list beforehand. Don’t just answer their questions about your current financial situation – tell them where you would like to be in terms of your finances. It’s a time when you can evaluate the planner, not just answer their questions – make sure that you feel comfortable with them. A sure sign of a good financial planner is that they don’t rush you. They should listen carefully to you and clearly explain where they can and can’t help you.
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