Do you have a financial planner? If so, how did you know they were they right choice for you? One listener phoned into Talking Lifestyle’s On the Money, asking for advice on how to find the right financial advisor. 


Noting that her bank had set her up with an advisor, Katherine said she was unsure about the advice he was offering.

According to money man Paul Rickard, it’s important to get recommendations from the right source. And your bank isn’t necessarily the best choice.

“You can find recommendations from the Financial Planning Association or even friends and work colleagues,” he said.

I don't think that my bank would be my first port of call when looking for a financial planner.”.

While the banks do offer these services, they aren’t always aware of your personal background, which may lead to being placed with the wrong financial planner.

Paul believes that it’s going to come down to your instincts and about how you feel about the planner at the end of the day.

“It will come down to your empathy that you develop with the planner. A firm that has been around for many years is important… it’s hard to know whether that planner will be right for you – gut instincts is what you have to go by!”

Peter Switzer of the Switzer Report also suggested seeking advice from your superannuation’s advisors.

“At the end of the day, they are paid to provide you with a service and offer the best possible advice, I would definitely go and speak to your superfunds financial planners”, Peter said.

Both Peter and Paul stressed having testimonials from people you trust before making a final decision.

Click the video above to listen to the full interview.