Working with your financial adviser

  • The relationship with a financial adviser may be one-off or ongoing.
  • Remain engaged with your financial plan and ensure it remains appropriate.
  • With ongoing advice, the adviser should regularly review the appropriateness of your plan.

You may only need once-in-a-lifetime advice from an adviser, but there are also instances where it is beneficial to access their expertise on an ongoing basis. You should understand how much involvement you want with your adviser and what you are prepared to pay.

Keeping tabs on your situation

Whether your relationship with your adviser is an ongoing commitment or a one-off situation, it is imperative that you remain engaged with the advice received and ensure that it is still appropriate and working for you.

Changes in your circumstances could impact the recommended strategies and affect your risk appetite. Common triggers include:

  • purchasing a new home or investment property
  • having a child
  • children leaving home and no longer dependent
  • receiving a windfall or inheritance
  • loss of employment or a change in employment and/or income levels
  • any unexpected, significant expenses
  • considering or planning for retirement.

If you feel like something in your plan needs to be changed, contact your adviser. Don't be hesitant to call them. Remember, you are paying them for their expertise.

 Is your financial adviser independent?
 Monitoring your investments