Consulting an experienced financial planner enables you to actively plan for your future, rather than leaving it to chance. How do you find a financial planner who is qualified to meet your needs?

Finding the right financial planner for you requires a bit of homework on your part. It is your right (and responsibility) to ensure the financial planner has the background, expertise and methods of operation that suits your needs.

Checklist
To help you find a professional, ethical and experienced financial planner you can work through the following steps.

1. Ask friends, family or work colleagues for a referral a recommendation from one of these is a step in the right direction. However, dont stop here. Everyones financial situation is unique. Therefore, what may work for another person may not necessarily work for you.

2. Make a list of two or three financial planners. For example, your short list can be obtained from referrals, the Financial Planning Association (FPA), or even the Yellow Pages.

3. The financial planner should be a member of a professional body, such as the FPA.

4. The financial planner must have a Financial Service Guide (FSG). This guide outlines what services are offered, the costs involved and whether or not commissions are paid. If a financial planner does not have an FSG - cross them off your list!

5. It is essential to understand how the financial planner will be paid and what services will be provided. Financial planners can receive benefits for their financial advice in a number of ways, including:

The financial planner must provide a written plan, Statement of Advice (SOA), showing all investment fees and commissions and the total cost to you. If they dont, cross them off your list!

The financial planner (or their organisation) must have professional indemnity insurance. This helps you receive compensation if your financial planner is negligent. If the answer is no, cross them off your list!

6. Is the financial planner registered with the Australian Securities and Investment Commission (ASIC)? They must be an authorised representative of an Australian Financial Services Licensee. Again, if the answer is no, cross them off your list!

7. When you visit a financial planner dont be afraid to ask questions. Remember, whilst a financial planner can certainly steer you in the right direction, only you can take full responsibility for your situation.

8. Your financial plan, set out in the Statement of Advice is the key to your future financial security and should be regularly reviewed and updated. Ensure your financial planner offers ongoing and long-term service.

Selecting a financial planner is a decision for the longer term and one that should not be left to chance. Remember its your financial future so ensure you are comfortable with the financial planner you select.

The Regulating Bodies
The financial planning industry and financial planners are guided by a number of bodies.

Financial Planning Association of Australia Limited
The Financial Planning Association (FPA) is the professional body for financial planners. Through its code of professional conduct, it promotes improved quality of financial advice for consumers as well as high standards and professional behaviour among its members. Membership of the FPA is not compulsory, however all financial planners should meet similarly high professional standards. You may, however, want to check whether the financial planner is a member of the FPA.
Phone: 1800 626 393 (toll free)
Web: http://www.fpa.asn.au

Association of Financial Advisers Ltd
The Association of Financial Advisers is a professional organisation that has been serving the financial advising industry for over 60 years.  Its aim is to provide members with a robust united voice, continually improve practises and focus firmly on the exciting, dynamic future of the financial advising industry.

With six decades of success behind it, the association's ongoing relevance is due to its philosophy of being an association of advisers run by advisers.  This means advisers set the agenda, decide which issues to tackle and shape the organisation's strategic plan.

Phone: 02 9267 4003
Email: info@afa.asn.au

Australian Securities and Investments Commission

The Australian Securities and Investments Commission (ASIC) is an independent government body that regulates the financial industry through its policy statements and strives to reduce fraud and unfair practices in the financial industry.

Phone: 1300 300 630 (cost of a local call)
Web: http://www.asic.gov.au

Why Choose Vaughan & Monaghan
We meet all of the above criteria as our planners are Authorised Representatives of Australian Financial Services Limited a holder of AFSL 297239 and we are a Principal Member of the Financial Planning Association (FPA).

All of our planners are members of the FPA which requires them to adhere to a strict code of professional conduct.
Australian Financial Services Ltd require that our financial planners undergo constant ongoing professional development to ensure their skills are kept up to date.

You can expect to receive written advice in our easy to read Statements of Advice, be given a choice of payment methods and most of all expect a level of service that will ensure your satisfaction as long term clients.