Planner Selection

Selection Criteria

While your foremost criteria in choosing a financial planner should be based on credentials, it’s also worth seeking out a financial planner with whom you feel comfortable. This is important as the most productive client-financial planner relationships tend to be long-term and the matters discussed are often of a sensitive and private nature.

Don’t underestimate the importance of good communication skills. As the information is often quite technical, it helps that the financial planner uses ‘plain speak’ and that all your options and associated fees and charges are well explained.

When choosing a financial planner, it’s worth checking that they meet the following selection criteria:

Selection criteria checklist The Field Group – Financial Planning financial planners:

• Registered with the Australian Securities & Investments Commission (ASIC) as an authorised representative of an Australian Financial Services licence holder.
• Bound by the Financial Planning Association (FPA) Code of Ethics.
• Provides a financial services guide (FSG) at the outset of any discussions with you.
• Financial planning qualifications, e.g. Diploma of Financial Planning (DFP) or Certified Financial Planner.
• Provides a detailed cost and service outline prior to proceeding with your plan.
• Has a disciplined approach and a formal process for the preparation of your financial plan/statement of advice.
• Has access to high-quality, up-to-date, independent investment research and other specialist services.
• Offers choice of direct and managed investments (i.e. not tied to a single provider).
• Ongoing and long-term service to enable your plan to evolve in alignment with your lifestyle.