Choosing a financial planner can prove to be a challenging task. When selecting a financial planner, you should consider their professional qualifications and memberships, relationship potential, agreed fee structure and ensure that all recommendations are provided in writing. You should only consider financial planners who hold an Australian Financial Services Licence (AFSL) or are an Authorised Representative of a financial services dealer group (like Lonsdale).
Professional qualifications and memberships
When choosing a financial planner, you need to feel comfortable sharing personal information so, trust is critical in your decision-making. In many cases, your first meeting is complimentary and this is a great opportunity to meet your potential planner face-to-face.
Agreed fee structure
Your planner should be completely transparent about how they get remunerated and ensure that you understand how their fee structure for advice is set up.
All recommendations given in writing
Before committing to a financial plan,you should receive clearly outlined - in writing - the strategy they are proposing to you.