PICKING a financial planner out of a pool of competitive companies need not be a nightmare
Quill Group believes choosing the right advice should be easy. The company uses short, medium and long term classification for investments so that in volatile times, investors have adequate reserves of low risk investments to draw for their living expenses. But investors are warned not to rush in.
Quill Group adviser Mark Beveridge offers a simple mantra: “Getting wealthy through investing is not easy, but it is straightforward.”
He explains that it is not easy to cope with volatility, to live within your means, to ignore the get-rich-quick schemes; but it is straightforward in that by following the foundation rules of investment and financial planning, results can be achieved by ordinary people.
Before choosing a financial planner, consider these four points.
1. Make sure your adviser is licensed by ASIC, or an authorised representative of an entity licensed by ASIC. You can check this for free at www.asic.gov.au.
2. An adviser should have at least five years experience in the financial planning industry.
3. Make sure that they do not seem to be pushing just a single product or trying to give you a ‘one-size-fits-all’ strategy.
4. Make sure that are willing to invest the time in understanding your particular cash flow and tax situation and that the advice addresses those circumstances.
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