For some bizarre reason, most schools don’t teach us the basics of budgeting, paying bills, saving, and spending within our means. There’s no ‘retirement savings 101’ or even ‘how to stop buying avocado on toast so you can afford a house deposit’ in high school. 

Even though necessity dictates that we’ll more or less figure out the basics on our own, it’s truly phenomenal the difference an actual financial adviser can make. These trained professionals will analyse your situation, help you set goals, and help you meet them. 

So how do you find a Sydney financial planner who can un-jumble your finances? Here are our top tips for getting a budget expert on your side. 

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Their experience and certifications

Start with the obvious – when you are browsing through the list of Sydney financial advisers, the first thing to do is check out their accreditations and past experience. 

All financial advisers in Australia must be licensed under an Australian Financial Services (AFS) licence. No planner is legally permitted to offer financial advice without this formal licence, so it should be the first thing you check for. 

Experience is more of a personal preference. Everybody needs a first client, and new entrants to the industry can often have fresh enthusiasm and training for the job, so don’t write off someone who’s just starting out. On the other hand, you may prefer to work with a seasoned finance veteran – this choice is up to you. 

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Their fees and charges

The irony of a financial advisor is that you’ll be paying for their services to advise you on money matters. 

Generally speaking, higher hourly rates usually mean better or more in-depth service. However, you’ll still need to be able to fit their charges into a budget, so shop around and ask for quotes before you get started to get a feel for the average rate. 

Their working style

Would you prefer a single initial meeting, then annual catch ups? Or regular contact and check-ins to help keep you on track? 

Financial services can vary greatly in this regard, as some professionals will set you up with a plan then set you on your way, while others are more ‘hands on’ and will be in touch regularly. Consider which style will be better suited for your needs to help make a decision. 

Their specialties

You may be considering hiring a financial counsellor to help you prepare for a mortgage; perhaps you’re just looking to get your head around your tax situation and home, contents, car or health insurance. 

The best financial planners are fluent in all these areas – and then some. But some planners won’t have as much experience and knowledge in one sector compared with another, so talk to them about their specialties and what you’re looking for before you decide.  

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Their reviews

There’s nothing quite like the trusted word of a friend or family member, or at the very least, reviews of their work. Ask around if anyone you know has worked with a financial planner in Sydney to see if they have a recommendation, or simply look up reviews online.

Keep in mind that online reviews can often be skewed towards the negative (people are more inclined to complain than compliment), but these avenues can give you a solid real-world idea of a planner’s services and skills. 

Ready to take your finances by the horns? Start your search for a Sydney financial planner here.