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Transition to Retirement Recent Posts

How to choose a financial planner?

 

Often choosing a financial planner can be the hardest step in seeking financial advice. Here are some tips to help you.
 
Choose a committed financial planning professional who is a member of the FPA
 
Generally, all practising financial planners must hold an Australian Financial Services Licence issued by the Australian Securities and Investments Commission (ASIC), or be an authorised representative of a licensee. It’s sensible to look for one who is also a member of a professional association, such as the FPA.
All FPA practitioner members are committed to a code of ethics and high professional standards, over and above that required to comply with the law. FPA membership carries education and experience requirements. Members must comply with practice standards and continue their professional education. They are held accountable through a rigorous complaints and discipline system.
 
Talk to a CFP® professional
 
The CFP Mark is awarded to individuals who have gone beyond the competency, ethics and professional practice standards required of other FPA practitioner members. Each year CFP professionals must renew their right to use the CFP Mark.
 
While all FPA practitioner members work to high ethical and professional standards, if you have complex and wide-ranging financial needs you might prefer to seek advice from a CFP professional.
 
Use the FPA's Find a Planner service
 
This service helps you identify FPA members in your local area. It includes contact details for over 5,700 CFP professionals across Australia.
 
Ask a friend for a referral
 
Referrals from friends who have had a good experience with a financial planner can be the best and easiest way to find a professional to suit your needs. FPA research shows that over half of those who use a financial planner are referred by a friend or relation.
 
Do some background reading
 
If you feel you need to know a bit more, check out the Tools and Resources section of this website. You’ll find helpful information, including the Good Advice is Money Well Spent Case Study booklet, a compilation of real life client stories showing the benefits of professional advice. The ASIC consumer website www.fido.gov.au is also a good source.  
 
This information has been sourced from the FPA website
 
Please feel free to visit the Lifetime Financial Group website for more detailed information on who we are and what we are able to offer you