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.