Advice - where to get the right financial advice?

[~Ash~]

Thank you so much for the advice Kelly! I'm definitely going to look into all of your suggestions. I would love to be very knowledgable in this area.

I've always been a bit suspicious of financial seminars - are they usually a sales pitch for a product of some kind?

I actually have 'rich dad, poor dad' in my bookcase! DF owned it before he moved in so I'm definitely going to give it a read.


**Sent from my phone using Tapatalk.

[BellyBelly]

I still am very picky which ones I attend. If they are run by banks, advisory firms etc then I don't bother. If they are people who walk their walk, are recommended by other successful business people I follow then yes I will listen and decide. Kiyosaki has just published a book with Donald Trump, called The Midas Touch. Love him or hate him, you couldn't get any more successful than that. Anthony Robbins is also highly ranked and regarded by prestigious organisations for his business and money advice, including top accounting firms around the world, American Express and more. These people have made it (and you don't without knowing a thing or two), I want to learn from them.

[PinkPalace]

I was planning on seeing the financial planner at the bank to start with but after realising they charge (first consult it free) I thought it would be better to pay an accountant or proper financial planner the money and not be up for a sales pitch for the banks products.



DH is a FP for a leading bank and i can tell you that it a big misconception that bank planners are NOT proper planners.
He has the highest qualification in the country - more than most roper: planners as you call them

You will find that every planner is limited by their governing licenced products. It doesnt matter who they are or who they are employed by.
what you need is to find a PERSON with skills, knowledge and ethics. this is much more important than who they work for!

also, shop around, and dont take advice from anyone not registered to give it.
Unfortunately people charge for service.
A dr wont give you medical advice without a fee
and accountant wont give accounting advice without a charge
a lawyer wont give law advice without a charge.

it baffles me why people have a huge issue paying a FP for their experience and education. It is a professional service and you just need to find the PERSON that clicks with you.

HTH
x

[Astrid]

I saw a FP at our bank. I am quite happy with the service/advice we got. Cost $770 for both of us 4 years ago. Yes it was a lot, but we had a stupid amount of Super funds that needed to be rolled together and I had struggled with doing it myself, as it was not easy to remember a job and home address from my late teens/early twenties (I had a few crappy jobs). Often they would talk to him, but not me.

I have seen him since and not been charged, but that could also be due to us having the bank super product (which has been returning very well).

His advise was quite sensible. Basically pay down debt, in particular mortgage, as you don't want to be using your Super payout on retirement to finish paying it off. He gave us a time schedule, as in keeping high risk, high return until a certain age, then going more conservative. He also helped us out with income protection, life insurance etc. He even recommended non-bank products.

I certainly think one is worth seeing in your scenario. Also have a chat to your bank as to what they consider for loans, things like existing debt and available credit card limits will affect how much they can loan you. Best of luck, it is a good thing that you are thinking about your future.

[Epacris]

We shopped around and saw a few different finical advisers before we found the one that suited us. If you Google "financial advice commission v’s fee based", you will find lots of good information. In the end we chose to go with an independent fee based financial advisor. I am an extremely skeptical person by nature and I just could not ever go with a commission based finical advisor, it just wouldn’t work for me.

[Liviam]

DH & I are thinking exactly the same thing. We need someone to tell us what to do and how to do it to be more financially secure in the future while being able to afford the kids education and a bigger house. But still have some free money to do holidays/dinners etc.

I find it som confusing I don't even know where to start.

Does it matter if we don't make heaps of money? I would be embarrassed if a FP said they couldn't help us as we are too low income - IFYKIM.

[MummaBee]

To be honest I have had some luck with accountants belive it or not they seem to know what to do with your money to get ahead