Always keep in mind that your hard-earned money is on the line.
Hiring a financial Planner is an excellent way to improve your financial position. In fact, Australians who work with financial advisers are more likely to be financially secure than those who don’t. However, like any business or industry, there are good advisers and bad ones. Before hiring someone to manage your money, make the right choice by knowing how to spot bad financial advisers and what they do so you’ll know whom to avoid.
No Reviews
A financial adviser with no reviews really smells fishy. A good home repair contractor has reviews. Good doctors have their share of reviews. So why shouldn’t a financial adviser have reviews if they claim to be that good? By enquiring about endorsements, you can easily find advisers who are trustworthy. So, your first step in seeking a Gold Coast financial planner is to see if others have been satisfied with their service.
Not Explaining Fees
Financial advisers can earn money either through commissions, as a percentage or charge flat fees. The latter arrangement is preferable. The adviser won’t be tempted to recommend questionable investments just to get paid, and the adviser’s earnings are always linked to your money’s performance. This is one of the first things that a financial adviser should discuss with a client. Also, an adviser shouldn’t charge beyond an annual fee of 1.5%.
Not Showing Credentials
You would never think of putting your health in the hands of anyone without a medical licence. The same should hold true with a financial adviser who will handle your money. Thus, always ask for an adviser’s credentials before even proceeding to talk to them. Financial advisers in Australia must have an Australian Financial Services (AFS) licence applied to and released by the Australian Securities and Investments Commission (ASIC). This licence requires a lot of work and exams to pass meaning the adviser has put in the time and hard work. A bonus is if the Gold Coast financial planner is a college or university graduate.
It’s a good thing that in the search for a Gold Coast financial planner, New Wave Advice can assuredly offer honesty, low fees, quality service with great value, passion, and dedication. New Wave Advice is a growing and dynamic financial advice business that ensures tailored advice customised to the client’s specific needs.
If you’re looking for honest financial advice, call New Wave Advice and have a talk about how their financial advisers can help you. All you need is to click http://newwaveadvice.com.au/.
