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Getting the best from a financial advisor

Working with a professional to help you to make sense of your finances can be a wise move, but for this relationship to work effectively it is important that you understand what to expect from your financial advisor.

What can your financial advisor help you with?

  • Defining your financial goals and creating a step by step plan or strategy to achieve them.
  • Planning for the future, including for retirement, future education or housing needs.
  • Choosing the mix of investments and assets that suit your goals, lifestyle, time horizon and appetite for risk.
  • Building a solid estate for your family to inherit in the future.
  • Choosing the most tax-efficient methods of saving and investing.

What should your financial advisor inform you of?

  • The range of services that they offer and how much and by which method you will compensate them.
  • Your mutual responsibilities and obligations towards each other.
  • What the planning process will look like and the documents that they will provide you with.

What will your financial advisor need from you or need to ask you about?

  • What your financial goals are.
  • What your personal circumstances – such as your marital status, any dependents, your job, earnings and tax situation.
  • Any investments or assets that you currently have – such as registered accounts, workplace pensions, property etc.
  • Your appetite for risk and investment preferences.
  • Information on your income and also your outgoings, including debts such as mortgages, loans or credit cards.
  • Whether or not you have a will, and its contents.
  • Your estate and inheritance planning situation.

If you’re looking to achieve your financial goals, talk to us. We can help.