How Do I Select a Financial Planner?

When you select a financial planner, it is important that you are comfortable with the planner and the services offered. We recommend you make sure you can answer these questions:

Does your Financial Planner have a Financial Services Guide?

A Financial Services Guide is a document which outlines the services offered & fees charged. It is a legal requirement that you are provided with one.

Is your Financial Planner Licensed and a Member of the Financial Planning Association (FPA)?

Australian law requires that all Financial Planners or their company be registered with the Australia Securities & Investments Commission (ASIC). This ensures the organisation and planner acts in accordance with ASIC rules and regulations. Whilst not compulsory, the FPA is the main professional body representing Financial Planners. FPA members agree to adhere to the Code of Ethics and strict guidelines to protect client’s rights.

What qualifications or experience should they possess?

Whilst educational history should not be your sole criteria for selecting a Financial Planner, you should check that they have the appropriate knowledge and experience to provide assistance to your personal situation.

How is your financial planner paid for their services?

Does your planner charge a flat fee, hourly rate or commissions, for both up front and ongoing charges? Regardless of the method, you need to be aware of all charges and these should be placed in writing to you. Have you compared these charges to another financial planning company? Did you realise that a small difference in fees can make thousands of dollars worth of difference over the years?

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APS Financial Planning and its Advisers are authorised representatives of Fortnum Private Wealth Pty Ltd - ABN 54 139 889 535 AFSL No. 357306.