Independence, fees and commissions:
Be wary when choosing a planner that you’re getting independent advice and that their fees are reasonable, based on the returns they can get. Cheapest doesn’t mean the best. Commissions should become more transparent and more closely regulated following the Financial Services Royal Commission.
These sites and articles will help you choose and compare financial advisers:
InvestSmart including Eureka Report and Business Spectator is a paid service and free “Insights” with highly respected Alan Kohler (the finance bloke on the ABC with the charts and the fab sense of humour!) and others. Grab a free 14 day trial of their broader services to see if they suit you.
Adviser Ratings (AR) “Australia’s first transparent and independent service to help you find, rate and review qualified financial advisers.”
CPAAustralia (CPA) “Find a CPA (certified practising accountant) or financial planner”
Financial Planning Association of Australia (FPA) – Directory to find a financial planner
Yellow Brick Road – “How to pick a planner”