What advice can a financial advisor provide?

Advisers can provide expert guidance when you have important and potentially difficult financial decisions to make, such as approaching retirement. An adviser can put a plan together to help meet your short, medium and long-term goals.

What to prepare before seeing a financial advisor?

Prepare to see an adviser An adviser will need information about your: personal situation, such as your age, where you work and whether you’re in a relationship. assets, such as your home, savings, super, car, shares and other investments. debts, including mortgages, loans and credit card debt.

What information will a financial planner need from you in order to provide good advice?

What Do I Bring to a Meeting With a Financial Planner?

• 401(k) and other investment plan statements.
• Mortgage and other debt statements (Hint: You shouldn’t start investing until you’re debt-free, besides the house.)
• Pay stubs for you and/or your spouse.
• Your most recent tax return.
• Your monthly budget.

Can accountants give financial advice?

Unless your accountant has an AFSL (and some do), they cannot provide advice about financial products.

What are the roles and responsibilities of a financial advisor?

A financial advisor is one who provides guidance on how, where and when to invest. The advice they provide could be for a wholesome financial plan or individual investments made towards a larger financial plan.

What is a statement of advice?

A Statement of Advice (SoA) provides an outline of a financial adviser’s recommendations to help you achieve your needs and objectives. They’ll ask questions about your current situation and your financial goals. They’ll then provide details of the fees and charges if you proceed with their advice.

What should I talk to my financial advisor about?

10 questions to ask financial advisors

• Are you a fiduciary?
• How do you get paid?
• What are my all-in costs?
• What are your qualifications?
• How will our relationship work?
• What’s your investment philosophy?
• What asset allocation will you use?
• What investment benchmarks do you use?

What questions should I ask a financial advisor Australia?

Questions to ask your financial adviser

• How long have you been giving financial advice to people in my position?
• How much is this advice likely to cost me?
• How do you deal with conflicts of interest arising from associations you have which, in some way, may prevent me from receiving objective advice?

What questions should a financial advisor ask?

Are financial services companies doing the right thing?

“My experience [in the financial services industry] is that people who do business are, for the most part, highly ethical people trying to do the right thing most of the time. Most of them are trying to help their clients achieve their financial objectives,” he said.

Do you provide financial services or deal in financial products?

You provide a financial service if (among other things) you: ‘provide financial product advice’; or ‘deal in a financial product’. Arranging for a person to engage in certain conduct, such as applying for or acquiring a financial product, will constitute dealing unless it amounts to providing financial product advice or is exempt.

What is a Financial Services Guide (FSG)?

Conduct and disclosure Under Pt 7.7 of the Corporations Act, providing entities that provide financial product advice to retail clients must prepare and provide a Financial Services Guide (FSG), give a general advice warning when giving general advice, and prepare and provide a Statement of Advice (SOA) when giving personal advice.

Do you need a licence to give financial advice in Australia?

Giving financial product advice You must be authorised under an Australian financial services (AFS) licence to provide financial product advice. Financial product advice and dealing To determine your obligations under the licensing provisions you first need to consider whether you provide a ‘financial service’.