Choosing a financial planner

August 22, 2016 in Latest News

Choosing a financial planner

Many people don’t consider consulting a financial planner until they are close to retirement or if they are retrenched. However, to reach a reasonable level of financial security, the earlier you start a regular plan of saving and investing, the better.

Specialist advice

While your financial institution will continue handling your regular transactions such as daily savings, term deposits and personal or housing loans, a qualified financial planner will provide specialist advice on strategies and products for wealth creation, superannuation, retirement and investments such as shares, managed funds and property trusts.

However, choosing the right financial planner is a crucial component of a successful financial strategy. Some important factors such as qualifications, licence, services offered and fees should be considered when looking for a financial planner.

The right qualifications

Some financial planners are originally qualified in accounting, stockbroking or other fields of finance. Others have undertaken specialised training in investment and retirement planning. Many have completed a Diploma of Financial Planning or similar.

To give advice on securities (debentures, shares, bonds and managed funds), planners must either be licensed by the Australian Securities and Investments Commission or an Authorised Representative of a licensee.

There are many duties and responsibilities imposed on individual planners by law, policy and industry standards.

It is also important that the planner has access to research on investment products, and information on issues in the business and legislative environment that may affect investment decisions. These may be built into an ongoing service in which the planner regularly reviews your investment strategy and portfolio performance.

Disclosure of fees

The methods of remuneration for financial planners may vary. A Bridges financial planner does not receive commissions or volume payments but instead charges a fee based on the service you require and agree to.

Your planner should inform you of the fee details before you make your investment decisions. Importantly, you must be satisfied that the planner’s advice gives you the most suitable combination of investments for your needs.

Bridges has been providing professional financial planning services to credit union and building society members since 1985. So why not call Maleny Credit Union on 5499 8988 and make an appointment with a Bridges financial planner? The initial consultation is complimentary, and obligation-free.


Bridges Financial Services Pty Limited (Bridges). ABN 60 003 474 977. ASX Participant. AFSL No 240837.

This is general advice only and does not take into account your objectives, financial situation and needs. Before acting on this advice, you should consult a financial planner.


In referring members to Bridges, Maleny Credit Union ABN 52 087 650 995 AFSL & Australian credit licence 246921 does not accept responsibility for any acts, omissions or advice of Bridges and its authorised representatives.