Getting Ready to Meet Your Financial Adviser: A Practical Guide

Summary

Meeting with a financial adviser is a powerful step toward gaining clarity, confidence, and control over your financial future.

Content

Meeting with a financial adviser is a powerful step toward gaining clarity, confidence, and control over your financial future. Whether it’s your first appointment or a regular review, a little preparation can go a long way in making the most of your time together.

1. Gather Your Financial Information

Before your meeting, collect key documents that give a clear picture of your financial situation:

• Recent tax returns and pay slips

• Superannuation and investment account statements

• Insurance policies (life, income protection, etc.)

• Mortgage, loan, and credit card details

• Estate planning documents (wills, powers of attorney)

Having these on hand allows your adviser to assess your current position and tailor recommendations to your needs.

2. Clarify Your Goals

Think about what you want to achieve, both short-term and long-term. Common goals include:

• Planning for retirement

• Saving for a home or children’s education

• Managing debt or cash flow

• Building wealth or protecting assets

The clearer your goals, the more focused and relevant your advice will be.

3. Be Ready to Share Personal Circumstances

Your adviser will want to understand your personal and financial background. Expect to discuss:

• Your income and expenses

• Family situation and dependents

• Employment status and career plans

• Any recent life changes (marriage, divorce, inheritance, etc.)

This helps your adviser build a strategy that reflects your real-life context.

4. Prepare Questions

Your meeting is a two-way conversation. Consider asking:

• How do you tailor advice to my goals and risk tolerance?

• What fees are involved?

• What happens if my circumstances change?

• How do you choose investment products?

Bringing questions ensures you leave the meeting with clarity and confidence.

5. Understand the Advice Process

The advice process will include:

• Completing a Fact Find and Risk Tolerance Questionnaire

• Discussing general strategies and next steps

• Receiving a Letter of Engagement outlining advice areas and fees

• Reviewing your financial goals and updating your profile as needed

If you’re considering SMSFs or other entities, be prepared to provide trust deeds, investment strategies, and compliance documents.

6. Be Honest and Open

The more transparent you are, the better your adviser can help. Share your concerns, values, and any financial habits or challenges. This builds trust and ensures your plan is realistic and achievable.

Preparing to meet your adviser isn’t just about paperwork, it’s about setting the stage for a meaningful partnership. With the right preparation, you’ll walk away with a clearer understanding of your financial path and the confidence to move forward