Broadly speaking there are two ways to engage with a Financial Planner –

  • to receive initial/ strategic advice; and,
  • to receive ongoing reporting and services.

The Financial Planner you seek to engage should be able to give you confidence that the complexities of your personal financial circumstances are being managed in an efficient and effective way, focusing on achieving your timeline-critical goals. As is well explained on the CPA Australia website – ‘ planning can be extremely complex.. legislation in this area is constantly changing and your planner is legally required to keep abreast of these changes. For those who enjoy managing their own money, guidance from a planner is likely to be extremely valuable in checking your strategies and direction.’

Whether you choose to take only strategic advice from a financial planner, or to take comprehensive advice, the scope of the topics to be covered in the advice to be provided to you will be agreed with you – set out in the advice document. Scaled (also known as ‘limited’) advice may not be available in all circumstances, but your financial planner will be able to discuss any such limitations with you before you become too involved in the process.