Why speak to a financial adviser?

In today’s world with ongoing changes to legislation, volatility in financial markets, changes to KiwiSaver rules and too many investment products to choose from, most people find it difficult to know how, when and where to invest their hard earned money.

That’s where a financial adviser can help. It’s their role to keep up-to-date and advise you on what’s happening in markets, where to invest and how legislation affects you and your personal circumstances. A financial adviser will help you look at your whole situation to ensure that the financial decisions you make set you on the right path to achieving your goals, both in the short and long term.

As your situation changes throughout your life, so will your needs and so too will the strategies recommended by your adviser. That’s why a financial adviser should be part of your everyday life. Just like your doctor, lawyer or children’s teacher, your financial adviser can help you make sure life is as good as it can be.

By creating a financial plan with a financial adviser you will get:

  • relief and reassurance - you now have a financial strategy in place
  • confidence and satisfaction – you are making the most of your situation to help optimise your financial future
  • peace of mind – you can sleep at night knowing a professional is looking after your interests.

A financial adviser can give you advice on a range of topics including:

  • budgeting and managing debt
  • wealth accumulation and investment strategies
  • tax effective investments
  • KiwiSaver and retirement strategies
  • maximising government entitlements
  • protecting your family with insurance
  • wills and estate planning.

If you are ready to speak to a financial adviser, click here to find one near you.

Selecting a financial adviser

Choosing a financial adviser can be daunting. Trust and reputation are important. You need to have confidence in the professional standards of your financial adviser and their capabilities to advise you now and in the future. Don’t be afraid to ask your prospective financial adviser questions about their:

  • relevant qualifications, such as a Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA) qualifications
  • licensing arrangements, for example what restrictions are imposed on them from their licence?
  • obtain their FSPR or AFA number and check it at www.business.govt.nz/fsp or www.fma.govt.nz
  • areas of expertise, for example managed funds and retirement planning, and how long they have been practicing
  • experience with clients in circumstances similar to yours
  • knowledge of taxation and KiwiSaver regulations
  • availability for future consultations.

You should also ask the financial adviser how they calculate and charge for their services. Do they have an initial flat fee for preparing the financial plan? What ongoing fees will you be charged? Do these fees include GST? What commissions or other payments will the adviser receive if you follow their advice?