Recommendation - Financial Advisor - Perth

• 

  aussiepuck on 28/12/2018 - 10:06

  +2

  Hi
  As someone who works in the industry, my advice is simple. Also, you are correct. Steer clear of your major banks and the like and go with smaller independents.
  Step 1. Google search.You want someone who is up to date enough to have a decent website - look for things on the website that relate to you. My advice - find 3 in your local area
  Step 2. Ensure first meeting is free and no obligation. Ask every question under the sun about their experience and qualifications and how they charge. Honestly don't get sucked in to the whole "commissions are bad" rubbish. Pay for things however you see fit. Some will rebate comms, some take comms and some will only do fee for service. its about how appropriate it is for you.
  Step 3. Pick who you trust and like the most. Dont make decisions solely on cost

  • 

    ihbh on 28/12/2018 - 12:29

    +1

    Go for fee for service for transparency.

    Even a 0.5% reduction in your net return can make a world of difference over time. As a sense check, check your net management expense vs index funds such as Vanguard's, including retail & wholesale.

    • 

      aussiepuck on 28/12/2018 - 14:22

      As a general rule i do agree and have told family/friends the same - the issue however, is how often do people have 3-4k sitting around for a full financial plan. The cost of advice is about to go up as the cost on advisers is insane so it may be more than that. I know advisers that charge $350 p/h and a plan will take at least 15 hours when you factor in all the stages. To your point i agree with the transparency however the SOA will still show exactly what you are paying each year. Pay for things however you feel comfortable with. Neither is right, neither is wrong.

  • 

    Calcifer on 28/12/2018 - 12:47

    Thanks

    This will be our first time with a financial advisor. Mostly looking for a sanity check on our current finances, and to work with someone on strategies to meet shorter and longer term goals

    Aside from just Googling it, is there a resource you would recommend for finding someone?

    • 

      aussiepuck on 28/12/2018 - 14:28

      Yep, they will work with your on your needs, goals and objectives.

      Honestly, Google is your first port of call. I mean don't reject family/friends recommendations but take them with a grain of salt too. i know advisers who i cant stand and would never use but are very successful as their clients love them. Its a proper relationship - not just a service. Thats why you have to do the research and take the time to meet with them and work out if you trust them

• 

  RoseK on 29/12/2018 - 19:20

  Here are some of them:

  • Momentum Planning
    Financial Planner
    7/1 Albert St
    +61 8 9221 1955

  • The Reformed Adviser
    Financial Planner
    Spacecubed coworking, 45 St Georges Terrace
    +61 8 6365 5400

  • ipac Western Australia - Financial Planning Services
    Financial Planner
    Home Base
    Home Base Business Centre, 55 Salvado Rd
    +61 8 9380 9599

  • Perth Financial Services
    Financial Planner
    301 Fitzgerald St
    +61 8 9227 7600

  • Empire Financial Group
    Financial Planner
    Suite 5/22 Brown St
    +61 8 9323 3000

  • Twilight Financial Planners
    Financial Planner
    2/85 S Perth Esplanade
    +61 8 9367 7166

  Hope these are helpful for you.

  • 

    Calcifer on 29/12/2018 - 19:23

    Thanks RoseK. Are these all services you have used or have information on, in order to recommend them?

    • 

      RoseK on 29/12/2018 - 19:41

      No, I have not tried them yet but they all have 5-star reviews. Hope these will work for you.

    • 

      Pandaboss on 15/04/2019 - 21:09

      Any update on your hunt for advisor?

      I am thinking of visiting one to see what they can do for me.