Financial Planner Questions

Financial Planner Questions

Great Questions to
Ask Financial Planners

When you first meet a financial planner you need to know if you can build a long term relationship with them. The planner should listen to your situation and ask questions about your personal financial details. This will allow the adviser to give you the best possible advice and an understanding if they are able to assist you.

Common questions consumers should ask their prospective financial adviser include:

Different advisers and firms may specialise in different areas of advice (e.g. self managed superannuation, direct shares, insurance etc).  If you are seeking advice you want to make sure the adviser has specialist skills in the areas you require.

You want to know the financial planner and firm has a track record in dealing with clients such as yourself.  For example if you are arranging complex insurance for your business you would want to see a financial planner that regularly deals with other business owners insurance needs.

The base level qualification is RG146 or a Diploma of Financial Planning.  A more experienced adviser should be a Certified Financial Planner (CFP) with over 5 years’ experience.

More information on qualifications can be found on our financial planning courses and qualifications page.  Please note as in any industry qualifications and experience does not always guarantee a good service.

It is important you understand what initial and ongoing service you will receive as some people require comprehensive service and others may prefer more limited contact.  There is no point in paying for something you will not use or becoming surprised if the service is not what you expected.

Services and costs will differ between firms and will also depend on the level of service/advice you require.  Most financial planning dealer groups charge an upfront fee for advice and a flat dollar fee or % of assets under management for ongoing service.  Make sure you understand the initial and ongoing cost of the service and how it will be delivered to you.

The questions above general in nature and should be used as a guide only.  It is also a good idea to ask personal questions of your prospective financial adviser to get an idea of their personality, hobbies and interest to make sure you are comfortable.


In your first encounter with a financial planner, you will need to find out if you can build a long-lasting relationship with them. They should be able to listen to you and ask you questions about your financial details and needs to be in a better position to guide you. This will ensure that the advisor will give you the best possible advice, and it will help them to understand if they can help you or not.

Some of the most common questions you should ask your prospective financial adviser as a consumer include;

Various firms and advisors may specialize in multiple areas like direct shares, insurance, and self-managed superannuation, among others. Should you need advice from a financial planner, ensure that they have the specialized skill set that you require for your business venture.

It is essential to determine if they have dealt with clients who have the exact needs as yourself before and what their track record with those clients is. For instance, when organizing complex insurance for your business venture, you should seek a financial advisor or firm that constantly deals with other business owners who have similar needs as yours.

The least required qualification is RG146 or a diploma in financial planning. It is best to look for a financial advisor with at least five years of experience and a Certified Financial Planner(CFP).

Additional information on the credentials in qualifications and the financial planning courses of a financial advisor is available on our website.

You must understand what the first service that you will receive is going to be. This is important as some people opt for a comprehensive service while others require a more limited contact. It is pointless to pay for something that you do not need or become astonished if the service provided is not what you expected it to be.

Services and rates are different between financial planners and firms. They also depend on the level of service or advice that the consumer requires. Many financial planning dealer groups indict a deposit and a flat dollar fee, attributing a percentage of assets under management for continued service. It is vital to understand the initial and ongoing cost of service and how the firm or the financial planner will deliver the services to you.

The questions listed above are general and should only be used for guidance purposes in regards to financial planning. It is usually wise to ask personal questions about your preferred financial advisor. This is to get a scope of their character, hobbies, and interests to make sure that they fit in with your needs and the needs of your business venture.

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