Financial Planner Comparison Checklist

his checklist has been designed to help you with your initial screening for a financial adviser. This checklist will help you easily compare services and costs of each firm. We suggest you use this checklist in conjunction with our Choosing a Financial Planner article. It is highly recommended that you read the Financial Services Guide (FSG) of each prospective planner thoroughly.  Ask lots of questions and eliminate anyone from your list who:

• you don't feel comfortable with
• tries to sell you products at your first meeting
• does not provide you with a FSG
• does not have professional indemnity insurance

Name & Details	Planner A	Planner B	Planner C
Services: goal setting tax planning estate planning insurance planning comprehensive planning business planning retirement planning education planning investment planning and review other	Y/N	Y/N	Y/N
Areas of specialisation:
Who owns the business?
Number of clients: <10 10 - 40 40 - 80 80+
Types of clients (are they similar to you?)
Approach to financial planning:  Is it relevant to your needs?
Are products offered restricted in any way? i.e.. only offered by parent company/business affiliations with brokers/investment/insurance companies.
How are they paid? Initial advice fee commission fee and commission salary other
Who will work with you? Planner or Associate?
Have they provided you with a Financial Services Guide (FSG)?
Educational Qualifications: (Certificate, undergraduate degree, advanced degree)
Financial Planning Designation(s) and/or Certification (s) (CFP, CPA, etc)
Experience: How long have they been providing financial planning services?
Licenses:

* We recommend that you check the license details of each financial planner and whether ASIC has disciplined or banned your prospective financial adviser by calling ASIC on 1300 300 630 or visit: moneysmart.gov.au.