What to know before seeing a Financial Planner

Deciding to take the first step to securing your financial future can be a scary thing. It doesn’t have to be. How does it all work? What do I need to do? We’ve got your back here.

What should I consider when searching for a Financial Planner?

A CFP™ professional is for life, not just for Christmas. It’s important you find the right professional for you. You are trusting them with your future after all.

Consider whether they are the right fit for you. Do you see yourself partnering up with them long-term? Do they ‘feel’ right? Do they make you feel secure? In many ways, this is your chance to interview them. Here are some questions you may want to ask as it is important that you do your own research beforehand:

  • What are your qualifications?
  • What experience do you have?
  • What services do you offer?
  • What is your approach to financial planning?
  • Will you be the only person working with me?
  • How will I pay for your services?
  • How much do you typically charge?
  • How are you regulated?
  • How often do you review my situation?
  • Can I have it in writing?

What to expect from a financial planning session?

The first thing a CFP™ professional will do is conduct a thorough assessment of your current situation. Once they understand you and your goals, they can help develop your plan to keep you on the right track and help your plan evolve as you progress through the different stages of your life. Every CFP™ professional will approach this in their own way, however, every CFP™ professional follows the same rigorous process for every client.

The first meeting
Your CFP™ professional will explain the financial planning process to you and discuss the services they provide, their background, detail how they will be compensated and answer any questions you have about their ability to help you secure your finances.

The financial planning begins
If you’re happy with what you’ve heard so far and agree to proceed, your CFP™ professional will begin their financial planning services. They will gather information about your current situation to help them understand your needs and goals.

Evaluating your strengths and weaknesses
Your CFP® professional will analyse your financial strengths and weaknesses. This may include a projection of your cash flow, assets, savings, and any other financial data that will support the development of your plan.

Developing your financial plan
Your CFP™ professional will now develop recommendations to help you achieve your goals. They may make assumptions based on data that are used to develop the plan, which they will explain to you. This is your chance to ask questions and provide feedback to shape your future.

Planning is everything
Your financial plan is now implemented. You’ve made some changes to your lifestyle and are now on a path to financial security. Your CFP® professional will help you stay on the right path!

Partners for life
Your CFP® professional will work with you to review your progress over time and may make adjustments depending on your circumstances. Whatever you need, they are your partner for life and will provide ongoing support and guidance.  

Things to prepare for your first meeting with a Financial Planner

You’ve found yourself your perfect CFP™ professional or are ready to look for them – someone who you feel you can trust life’s biggest decisions with. In preparation for your first meeting, you may have been sent some documentation to complete beforehand and asked some initial questions. It may be useful to have these documents and information ready:

  • Financial Statements – Savings, Investments, Mortgage, Debt or Tax Documents
  • Payslips and Income – What is your income? What other income do you have?
  • Budgets and Expenses – What are your outgoing expenses? What is your monthly budget?
  • Your Life Goals – What are your goals? Short term and long term.
  • Your Questions – Write a list of questions that you want to ask your CFP™ professional. Address your concerns in life, no matter how big or small. This is your opportunity to get expert advice.

Next steps

You’re now ready for your first meeting. You know what to expect from the first meeting. Now find your perfect planner today using the search below.