Finding the right advisor for you.
Choosing a Financial Advisor: What are some of the things you should you be looking for?
In the world of personal finance, making informed decisions can significantly impact your future financial security. Whether you're planning for retirement, managing investments, or navigating your personal risks, a competent financial advisor can be an invaluable ally. But with so many options available, how do you select the right advisor for your needs? Here’s a guide on what to look for when choosing a financial advisor:
1. Qualifications:
Qualifications and ongoing training: Look for advisors with recognised certifications, who are continually looking to upskill and ensure they remain up to date with the industry and regulations.
2. Experience and Expertise:
Specialisation: Consider your specific needs (e.g., retirement planning, financial planning, mortgage advice, insurance advice) and look for advisors with expertise in those areas. Tip: read the advisers or companies disclosure statements to see exactly what your advisor is able to provide you with advice on.
Track Record: Enquire about the advisor’s experience working with clients in situations similar to yours. A seasoned advisor may have insights and strategies that align with your goals.
3. Personal Compatibility:
Communication Style: Effective communication is crucial. Ensure the advisor explains complex financial concepts in a way you understand and is responsive to your questions and concerns.
Trust matters: Building a trusting relationship is essential. You should feel comfortable discussing your financial goals, concerns, and life circumstances with your advisor. This also extends to ensuring your advisor explains everything in full to you, giving you time to make an informed decision and not feeling rushed, and importantly, feeling comfortable enough to speak if you have any questions.
4. Comprehensive Financial Planning Approach:
· A holistic, client centric approach: to financial planning goes beyond just investments, insurances or retirement planning. Choose an advisor who offers a comprehensive financial planning approach tailored to your unique situation. This ensures that all aspects of your financial life are considered and integrated into a cohesive strategy designed to help you achieve your goals.
5. Regular Reviews:
· Adapting the plan: Not only is it important you put the right plan in place with your advisor, but that you review this on a regular basis with them. One of the keys to success is regularly reviewing the plan and making adjustments as you go where necessary, life isn’t a straight line, so it is important any plan is able to adapt with you.
Want to talk further?
support@legaseed.co.nz
The above is information of a general nature only, and not to be considered personal advice.
Legaseed NZ Ltd (FSP1005404) holds a licence issued by the Financial Markets Authority and provides financial advice in relation to financial & retirement planning, investments, KiwiSaver and personal risk insurance. Our disclosure information can be found on our website www.legaseed.co.nz, or is available on request and free of charge.
