Choosing a financial advisor can be a big choice that shouldn’t be taken lightly as there are many factors you need to consider. New Zealand’s premier accounting professionals, Tutbury & Associates, have outlined five tips to help you select a financial advisor that you can trust with your money.
What can a financial planner or financial advisor do for you? “A financial planner can assist you in making more informative financial decisions and plan for the future,” advises Kelly Tutbury, Accountant and Managing Director at Tutbury & Associates Limited.
This might include advice about budgeting, investing, super, estate planning, retirement planning, insurance and taxation.
If you need to advice relating to investments like KiwiSaver, managed funds, shares or bonds then look for an Authorised Financial Adviser (AFA). If you want advice on very simple investments such as bank term deposits a Registered Financial Adviser (RFA) is a great place to start. If you are looking for advice on products provided by a company such as a bank, then seek out a Qualifying Financial Entity (QFE) adviser.
Once you know what type of advisor you need, your next step to take is to make a list of what you want to get out of having a financial planner. “Think about where you are at with life, how much money you have, and what you’re trying to achieve,” advises Kelly.
Once you have got a shortlist of potential financial advisors, you can further narrow down the list by checking out their qualifications. Most authorised financial advisers (AFAs) have the National Certificate in Financial Services (Financial Advice), which is also known as the New Zealand Certificate in Financial Services. “Good financial advisors are also required to take on constant development to sustain their professional capability, and to gain new knowledge and skills,” comments Kelly.
Another thing to do is look at their work history. Have the handle situations similar to yours? Ask for testimonials and reviews from former clients. “You can even ask to see examples of their portfolio reports,” adds Kelly. This will give you a good idea whether they can handle your financial situation.
When hiring a financial professional, make sure you do some background checks before hiring anyone to make a plan for your money. Not sure who to choose? If an adviser is not on the Financial Service Providers register when they should be, you need to be careful about taking their advice.
If you have any questions or issues don’t hesitate to contact the expert and friendly team at Tutbury & Associates Limited.
About Tutbury & Associates Limited:
Tutbury & Associates Limited has worked hard to build their reputation of excellent customer service by working interactively with their clients and making sure that their clients get value for money. They are ideal for ideal for trades people, or anyone who wants to grow their business.
Contact Tutbury & Associates Limited:
Phone: 07 576 2194
Address: 23 Myres Street Tauranga