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Five tips for your first meeting with a financial adviser

Every great journey starts with a first step — and your financial advice journey begins with an initial meeting with your adviser. Here’s how to make sure the meeting is a successful one.

Taking on a financial adviser can be a life-changing experience. Your adviser will play a key role in your financial future by guiding you through strategies and helping you overcome obstacles so you can achieve your goals and create the lifestyle you want.

To get the most out of your first meeting, a little preparation can go a long way. Here are 5 tips to keep in mind.

  1. Know your goals

Before meeting your adviser for the first time, be clear in your own mind about what you want to achieve. During the meeting your adviser will listen to your hopes and aspirations, and use them as the foundation for your financial strategy.

Talk to your family and figure out where you’d like to be at different stages of your life, then make a list of your financial and lifestyle goals. Be sure to include both your short-term goals like going on a holiday or saving for an upcoming purchase, as well as longer-term goals like paying for your children’s education growing your retirement nest egg.

Remember, your financial plan isn’t just about money — it’s about enabling you to enjoy the lifestyle you want.

  1. Do your homework

To build the right strategy for you, your adviser first needs to understand your financial circumstances. To get a complete picture of your overall financial position, it’s a good idea to create a file of documents that show your:

Bring recent tax returns, payslips, bank or super statements and other financial documents with you to the meeting — and also an up-to-date Will, if you have one.

  1. Be honest

During the meeting, be as clear and open as possible with your adviser, not just about your needs and goals, but also your hopes and fears for the future. You should also let your adviser know how much investment risk you’re willing take on, so they can create a financial strategy that you’re comfortable with.

Communication and trust are the keys to a strong client–adviser relationship — but remember, it’s a two-way street.

  1. Ask questions

Your adviser will probably ask you lots of questions in your first meeting, so they can understand your unique financial situation. But the first meeting is also a great opportunity for you to find out more information as well.

Don’t be shy about asking your adviser to clarify any aspects of investing or the financial advice process that you don’t understand. It’s a good idea to think beforehand about the questions you plan to ask, so you can use the meeting time effectively.

  1. Let your adviser guide you

Do you know what the government’s recent changes to super rules mean for you? It’s fine if you don’t — your adviser will explain everything you need to know. Experienced advisers are professional, qualified specialists, who understand the complex laws and regulations that apply to your super and investments.

When you meet with your adviser, you can find out more about super and tax rules and how they might affect you. Then, your adviser will tailor a strategy to help you navigate these rules, so you can get the most out of your money and safeguard your financial future.


Source: Colonial First State.


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The information provided on this website, including the material and contents provided in the website publications, are informative in nature only and you should not act specifically on the basis of this information alone. It should not be used as a substitute for legal, business, accounting, tax, financial planning or other professional advice. If expert assistance is required, professional advice should be obtained. Liability limited by a scheme approved under Professional Standards Legislation

Paul Baggetta is the Founder & Principal of Baggetta & Co (ABN 68 786 233 813).

Paul Baggetta has been a Taxation Accountant since 1981, a Financial Planner since 1998, and in 1993 qualified as a Real Estate Licensee, holding a Triennial Certificate (currently not trading) and operated his own Real Estate business for property investment clients for over 5 years as a second business.

Financial planning services are provided by Paul Baggetta as an Authorised Representative (No. 261469) of Capstone Financial Planning Pty Ltd. ABN 24 093 733 969. Australian Financial Services License No. 223135.


Taxation & Accounting services are provided by Paul Baggetta as a Registered Tax Agent (No.61487008) and is a Member of SMSF Association, FIPA & NTAA.