Engaging a financial advisor
So, I'm thinking of going down the FA route. I have read and understand enough to know that I could do much of it myself. But, as a household we have some more complicated elements and goals where I’ve worked out I don’t have the knowledge and my time is better invested elsewhere (work and family) than trying to get my head around it. We have an accountant that is taking care of the tax minimisation etc. but their FA is now too general to be of any great use. Also, we probably need a little nudge to move away from an approach that is possibly too risk averse currently. I’ve been researching the independent FAs available to us but have some questions some here might be able to assist with from your experience(s).
• There are not many registered independent FAs about. Meaning they are not always in your location. How have people gone working with them online? Given how used to this I am for work I am assuming it’s fine but thought I’d ask • It seems there are some pretty strict rules to register as independent. Are people aware of FAs that act independently but are unable to register and are they worth seeking out • About half the registered FAs in NSW appear to be in one company, Allied Wealth, whose approach and philosophy (https://www.alliedwealth.com.au/investment-philosophy/) seems to be an attempt to leverage consistent income while remaining independent. Any thoughts on this? The $550 a month seems steep compared to others • I am hoping to achieve advice where we can then manage things pretty much ourselves with the occasional fee for service check in. Feel confident of this across things like cash, ETFs. But, are there any financial instruments you would recommend an FA manage for you. Not active management per se but things like set up and maintenance? Thinking stuff like bonds or REITs. The consensus seems to be that FAs are good on the insurance side of things
Sorry for the word vomit, it just kept coming. Mods, if this is too long/greedy then let me know. Appreciate everyone's time in advance