Monument Advisory Preparing For Retirement | Perth Financial Advice

A Starting Point For Seeking Quality Advice

Monument Advisory Preparing For Retirement | Perth Financial Advice

A Starting Point For Seeking Quality Advice

How can we help people decipher some of the behaviours, mindsets, and processes used by ‘best interests’ advisers? What are the red flags – and the green flags? Identifying some of these elements will create new questions and conversations around quality advice.

What are the key elements of ‘best interests’ advice?

Finding a financial adviser who operates in your best interests is about observing the known and the unknown. A combination of feeling your way through first conversations, initial research into industry pricing and advice models, and above all – listening to your gut instinct. For the average consumer, it’s not easy.

Without saying it overtly, your adviser will signal how the remainder of your engagement will proceed. In many cases, what you strongly feel you want at first is not aligned to what you actually need.

How does your adviser start your engagement?

  • They prioritise people over products
  • The engagement process starts with value – both what you value in life, and what you hope to get out of the process
  • Transparency is crucial
  • A valuable adviser doesn’t take orders

Seeking financial advice? We would love to hear from you.

Read more about our services here or feel free to contact a member of the Monument Advisory team here.

This article was originally published as part of “Who’s acting in your best interests?” a whitepaper published by Certainty Advice Group in October 2017.

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