What to Look for When Choosing a Suitable Financial Planner

Managing finances can be a demoralising task for many people, especially those who have a hard time keeping track of their expenses and investments. That’s where a financial planner comes in. They can help you identify your financial goals, create a plan to achieve them, and help you make informed decisions about your money. However, choosing the right financial planner is crucial to achieving your financial goals. Let’s take a look at some key points to keep in mind when selecting a financial planner in Australia.

Certification and Accreditation

When looking for a financial planner, the first thing to check for is their certification and accreditation. Reputable financial planners should have a formal qualification such as a Certified Financial Planner (CFP) or a chartered accountant. Depending on their qualifications, financial planners may be accredited by professional bodies like the Financial Advice Association of Australia (FAAA), which ensures they adhere to professional standards and a code of ethics.


The more experience a financial planner has, the better. When assessing their experience, consider questions such as: How long have they been advising clients? Have they worked with people who share similar financial goals to yours? What is their track record of success? An experienced financial planner will have knowledge of tax implications and investment strategies and will work to ensure clients get the best outcomes.

Fees and Charges

It’s important to be aware of the fees and charges when selecting a financial planner. Some planners charge by the hour, while others charge a percentage of the assets they manage on behalf of clients. Also, some financial planners may have a minimum investment level for them to take on a client. It’s important to understand the fee structure and how it will affect your finances before you sign up. Keep in mind that you may be able to negotiate fees with the planner based on the complexity of your situation.

Services Offered

Before selecting a financial planner, it’s important to understand the types of services they offer. Some planners specialise in investments, while others focus on insurance or estate planning. Make sure the planner can meet your specific financial needs, including your goals, risk tolerance, and investment preferences. If you have questions that haven’t been answered, don’t hesitate to ask.

Client Reviews and Referrals

One way to gauge the effectiveness of a financial planner is through client reviews and referrals. Search their website, independent review websites, or ask people you trust about their experiences with the planner. It’s also worth asking the planner if they can provide referrals and to speak with their clients directly. This will give you a more holistic understanding of their skills and expertise.

When choosing a financial planner, finding the right one can have a significant impact on your financial life. By considering factors such as certification and accreditation, experience, fees and charges, services offered, and client reviews and referrals, you can make an informed decision when selecting a financial planner in Australia.