A financial advice fee is not just paying someone to have a meeting and nod thoughtfully at your super statement.
Discovery and fact finding
The adviser needs to understand your goals, financial position, family situation, debts, assets, risk comfort, income, expenses, and future plans.
Skipping this step is how generic advice happens.
Research and strategy work
Behind the scenes, the adviser may compare strategies, model outcomes, review products, consider tax and super rules, and assess risks.
This is where much of the real work happens.
Written advice and explanation
Personal advice usually involves written recommendations that explain what is being advised and why. The adviser should then walk you through it in plain English.
A document you cannot understand is not especially helpful.
Implementation and follow-up
Fees may include help putting the advice in place, completing paperwork, liaising with providers, and checking that changes are implemented correctly.
Always ask whether implementation is included or charged separately.
Before accepting a fee quote, ask for a clear list of inclusions and exclusions. You should know exactly what you are buying.
Why not have a chat to our friendly team? Book a time: https://partnersinplanningaus.setmore.com/book or give us a call on 1300 880 100.