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How to Choose the Right Financial Planner for You?

Choosing the right financial planner is very important and not as simple as it sounds. Firstly, you should be absolutely sure if your need a financial planner. And for this, all you need is a little guidance to start your savings. And, if you are planning to have solid long-term saving goals, you should be definitely looking out for a financial planning company. Your choice of a financial planner will widely depend upon the range of services that you seek from the professional. Here is a small guide for you on choosing a financial planner that is the most suitable for you.

Decide if you need a planner

While some of the experts suggest that you should be hiring a financial planner irrespective of you have are having any long- or short-term goals, some others believe that not everyone needs a financial plan. All they need is a little bit of guidance to be on the right path. If you are a young fresher who has just started working then you might not need a full financial planner but just a little help in putting in place a few basic things. 

Also, if you are someone who has achieved your financial goals and has taken retirement, then you just need small professional interventions to protect your assets. But if you are in the middle of your career and are looking to optimize your investments and want to avoid any mistakes then you should start looking for an SMSF accounting firm that will cater to your needs. 

How do you choose the best one?

  • A professional financial planner will help you in reducing the risks in your portfolio or loosen up your present savings. He/she will try to ensure that the portfolio is appropriate for you based on what you want to achieve.
  • Before availing of their services, make sure that you understand their broad business model. Financial planners can be either fee-only planners who only charge for their advice or fee-based planners who earn a commission out of the products which their clients purchase based on their advice. But there should be complete transparency maintained. 
  • The best accountant Redland Bay will offer services like planning and product recommendation, free of cost. Hence, opt for a fee-only planner who will only charge for the advice and not earn product commissions.
  • Another important factor to be considered is the fee to be paid. Although there is a wide range of fees that financial planners could charge, it will primarily depend upon their credentials, experience, the scope of services that they offer, and the market they operate in.

To conclude

Through good research, you will be able to find a skilled planner, especially if you need one to change business structure to get the most out of it. Since it is not easy to entrust your savings to someone, you should narrow down your considerations to references from people that you rely on.

Location: Australia

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