Regardless of the qualification and professional experience, anyone can call himself a “financial planner” or an advisor.
To ensure that your financial planner is well qualified and experienced in the field of personal finances and is impartial in his advice, consider the following five things listed below:
- Planning credentials: Having a high qualification in financial planning, such as the certified financial planner or personal financial specialist, confirms that the professional financial advisor from Accountants Perth Company has acquired education and holds adequate experience which is necessary to serve as a financial planner.
These certifications are awarded to those professionals who have met the requirements of education in planning for personal finances.
- Subject matter experts: Financial planners are generally known as planning professionals and not necessarily subject matter experts.
For example, a financial planner will be skilled in tax analysis and planning but unlike certified tax accountant or agent, he may not have the idea when it comes to tax rules. Similarly, he may have skills to create an investment plan but unlike chartered financial analyst he may not know about subjects of investments.
Therefore, make sure you work with a financial planner who is also a subject matter expert in areas of personal finance which is important in achieving your financial goals.
- Client Specialization: Not all financial planners serve all types of clients. This means that they are specialized in serving only certain types of clients with specific profiles.
Therefore, make sure you ask whether the planner specializes in serving certain types of clients to determine whether he is fit for your financial goals or not.
- Fee Structure: The fee structure determines whose interests the Financial Planner Perth serves the best- his client’s or his own.
The professionals who think about the clients first charge only fees for their advice whereas fee-based professionals not only charge fees for their advice but also earns commissions, referrals, and other financial incentives. Navigate to this website to get more information on the financial planner.