Working with a Financial Planner

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Investing can be complicated, and many people simply do not have the time to acquire the knowledge and confidence needed to invest effectively on their own. A financial planner or advisor can help them.

How to Choose a Financial Planner?

The terms “financial planner” and “financial advisor” are used broadly. What sets some apart are their education and training, and the qualifications that they hold.

Choosing the right advisor depends on the kind of help you are looking for. Different advisors offer different products and services, and their professional designations can provide an indication of their qualifications and expertise. Ultimately, what’s important is that you’re confident that your financial planner has the experience and expertise necessary to help you reach your financial goals.

Find the right advisor by asking the right questions.

Below, we offer some tips on how to find financial advisors in your area. Once you’ve compiled a few candidates, it’s time to sit down and interview them. You’re looking for a person with the experience and qualifications you need, but also someone who has similar ethical values. Here are a few questions to ask:

• How long have you been an advisor? Many years of experience means she’s been through market ups and downs and has managed through recessions and growth economies to understand which strategies work and which don’t.

• Which certifications do you have? There’s a veritable alphabet soup of credentials advisors can append to their names.

• What services do you offer? You want to know what types of investments the advisor can sell, and whether they develop comprehensive financial plans, specialise in retirement planning or just advise on investment portfolio allocations.

• How are you paid? “Fee-only” advisors charge by the hour or as a percentage of assets under management. “Commission” advisors get paid for specific products they recommend. “Fee-based” advisors may charge a fee and get commissions on some products.

• What’s your investment philosophy? Understand how he approaches risk in up and down markets. See if he also factors in non-financial aspects of your life like social and cultural preferences. Get a sense of his ethics and integrity.

• Will you put our agreement in writing? You want an advisor who will spell out all services, expenses and working arrangements.

Why Consider ICGFP?

Why should you consider contracting the services of ICGFP as your financial planner in Melbourne?
Choosing a financial advisor is a personal decision. We don’t want you to partner with us because we claim to be the best out there.
In fact, we work very differently from other firms. When you work with an ICGFP financial advisor, you get a personal relationship. You can expect to work with someone who will take time to understand your goals as well as the nitty gritty of your circumstances. That is unique approach, and we think it’s the best way for you to work toward your financial goals.

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