The first thing your financial adviser will do before they offer you financial advice is to collect data on your goals and financial situation. They will want to understand:
- Your short, medium and long-term personal and financial goals
- Your attitude to risk and whether you are willing to accept short-term volatility or losses on investments for the chance of higher returns
- Your current financial situation including income, spending, assets and borrowings
- Your current providers and products including super fund, investment managers, accountants, bank and insurers.
This information is collected using a client questionnaire and will be reflected in the recommendations in your Statement of Advice (SOA).
Want to know more?
- How does the adviser know about my risk profile/ tolerance?
- First financial advice meeting free
- Statement of Advice
Where can I find more information?
- Money Smart - Identifying your financial advice needs
- Money Smart - Questions to ask your financial adviser
General advice disclaimer
This is general information only and does not take into account your personal objectives, financial situation or needs. You should assess whether the information is appropriate for you having regard to your objectives, financial situation and needs and consider obtaining independent professional advice before making an investment decision. If information relates to a specific financial product you should obtain a copy of the product disclosure statement for that product and consider that statement before make a decision whether to acquire the product.