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Getting advice
A practical guide to personal financial advice

Personal financial advice can help especially at important turning points in your life, such as retirement, finally paying off the mortgage, or having children. By following some practical guidelines, you can choose a good adviser and decide if their advice is right for you.

How to get a copy of the 'Getting advice' booklet

Key tips for getting advice
Getting advice
1.Deal only with a licensed financial advisory business
2.Take the time to find the best person for your needs
3. Make sure the advice suits you and offers value for money
Essential facts about financial advice
-What is personal financial advice?
- Who can give you personal financial advice?
- Do you need personal financial advice?
- What’s it going to cost?
What advice do you want?
-Gather your personal information
- Work out what your goals are and what you want your adviser to do
Choosing your adviser
-How to find some names
- Start with the financial services guide
- Who owns the business?
- Services offered
- Fees and charges
- What if an adviser calls you?
- Setting up the first meeting
- What to listen for
- Questions to ask
- How to decide
Does the advice meet your needs?
-Understanding your statement of advice
- Do the general recommendations suit you?
- What financial products are recommended?
- What’s it all going to cost?
- Switching products
- Investment risks and returns
- Check the fine print
- Negotiate costs
Carrying out the advice
-'Cooling off'
- Making payments
- Keep control and keep your paperwork
- Protect yourself from fraud
- Review your plans
- Dealing with complaints
Making a complaint

More help...
Where to get more help in choosing a financial adviser and making informed financial decisions


How to get a copy of 'Getting advice'
Most of the information on FIDO about getting financial advice comes from a booklet called 'Getting advice' which we have published in association with the Financial Planning Association of Australia. 'Getting advice' was previously called 'Don't kiss your money goodbye'.

You can either: You may find that not all the ideas in this booklet may apply to your particular circumstances.
fido news Keep in touch with the latest information for people with investments, superannuation, insurance, credit and deposit accounts by getting our free monthly email newsletter, FIDO News.

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