A critical part of getting your retirement and financial plans right is finding the right advice from a properly qualified financial adviser, Bruce Cameron, the editor of Personal Finance, told the Old Mutual / Personal Finance Retire Right seminars.
Before you appoint a financial planner, you need to ascertain a number of things, including:
- That the adviser or agent has the skills to provide you with a proper service. The best qualified financial advisers are certified financial planners (CFPs) who are accredited to the Financial Planning Institute. You can find which CFPs are in your area by going to the website www.fpi.co.za;
- The credentials of the adviser and whether he or she has good references;
- What services will be provided. You will probably need advice on a wide range of issues, including assurance, taxation, investment and estate planning; and
- How much you will pay. You should ask how much of your investment is going to costs and how much of that is going to commissions.
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