All Topics / Help Needed! / Financial Advisors…

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  • Profile photo of rugratrugrat
    Join Date: 2009
    Post Count: 11

    It is becoming abundantly clear the DH and I need the services of a financial advisor, before making any decisions on wether or not and how to preceed into the property investment arena. There are simply too many things neither of us are aware of, or are only just becoming aware of – such as the impact of purchasing an IP on FTB, Baby bonus, Tax, trust accounts, etc, etc.

    So now we have decided that we definitely need a financial advisor to help navigate the pitfalls of investment, What should we be looking for in a financial advisor…

    How do we find a good one?

    where do we look for one? the yello pages?

    Is one financial advisor the same as another?

    What does it cost?

    what should we be expecting to get from the advisor in terms of service?

    Are there any other questions I should be asking that  I haven't?
    If anyone knows of a reputable financial advisor in Canberra I would appreciate the feedback.

    Obviously DH and I are novices at all of this, and whilst we are aware, that you cannot completely eliminate risk when purchasing an IP, neither do we want to dive into the pool without checking for any rocks that may be submerged just below the surface, that everyone but us is already aware of.

    Any help would be appreciated.

    Profile photo of PaulliePaullie
    Join Date: 2009
    Post Count: 217

    Good question, I wouldn't mind seeing someone in Perth.

    Profile photo of crashycrashy
    Join Date: 2003
    Post Count: 736

    firstly, understand the difference between an advisor and a planner. A planner sets long term goals and gives you a plan to reach them. An advisor can do this also, but they are the best people to ask about individual deals.

    If you ask a bank or someone like AMP for help, you are likely to get a planner who only knows how to sell that companies products, and really has no clue. Your advisor must be independant. Try the phone book.

    Also consider that an accountant may be more suitable for this advise?

    Profile photo of Scott No MatesScott No Mates
    Join Date: 2005
    Post Count: 3,856

    You would be best served by finding out who your friends/work colleagues may have used and whether or not they were any good (did they meet the spec)? Alternatively, ask you accountant to recommend someone who is able to meet your needs.

Viewing 4 posts - 1 through 4 (of 4 total)

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