When & where to get financial advice (key questions to ask)
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What are the essential questions to ask when seeking financial advice?
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Please remember that all of the information in this podcast episode is limited to general information only. That means the information is not specific to you, your needs, goals, or objectives. So you should seek the advice of a licensed and trusted financial professional before acting on the information. And before you acquire or apply for a financial product, please read the PDS or product disclosure statement, which should be available on the issuer's website. Lastly, please keep in mind that past performance is not indicative of future performance.
Hi, Paul. Thank you so much for joining me on the Australian Finance Podcast today. Hello, Kate. Thanks for having me on. Now, I know we've chatted a lot in the past on the podcast about talking to financial advisors and maybe some of the questions you should ask. But I realized the other day we haven't ever had a financial advisor on the show to actually ask all the nitty gritty details about what they do in a day, how they can help people, when is the right time to see one, how much it costs. So I've got my friend Paul Benson, who's also a fellow podcaster on the show, to answer all these questions that we've gotten from our community recently. So I'll just throw it over to you, Paul, to introduce yourself and maybe just talk a little about what you do sort of in a regular day as a financial advisor.
Yeah, fantastic. Thanks, Kate.
Yeah, so as you say, I'm a financial planner and I've been doing that for about 20 years. Also host the Financial Autonomy podcast. in terms of what I do in a regular day. So that's interesting. Okay. So a lot of, most of my work is looking after our existing customers. And as a minimum, once a year, we catch up for a formal review. So a lot of my day is spent either preparing for one of those meetings, either in one of those meetings, or then doing the work that flows off the back of those meetings. Now, of course, in between those annual reviews, we call them progress meetings, there's other bits and pieces that clients need done. But yeah, a lot of it is just working with those clients and We're going to get a little bit into what financial planning is all about.
But the overarching thing is clients will have particular goals that they're trying to achieve. And so we're trying to make sure that we're making progress and moving forward in achieving those goals. So it's a lot of, so you're dealing face-to-face with people these days, often via Zoom. But I guess for, say, an hour in front of a client is probably four or five hours work, not in front of the client, but getting the stuff done or preparing and that sort of thing.
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Sounds like good money advice... But is it?