Money has a habit of becoming complicated without anyone really noticing. At first, there might be a savings account and some super from work. A few years later there is a mortgage, insurance, investments, school costs and a vague feeling that something should probably be done about retirement.
Most people are not looking for somebody to make every financial decision for them. They want to understand what they have, what they could be doing differently and whether they are heading in roughly the right direction.
That is where a good financial planner can be useful. The difficult part is finding someone you are comfortable talking to. Here are five Australian firms worth putting on the research list.
1. Silverloom Advisory
Silverloom Advisory is a good starting point for people who want to look at their finances as a whole rather than deal with one question at a time.
That can be useful because money decisions rarely sit neatly by themselves. Putting more into super, for example, might sound sensible until you remember that you also want to renovate the house in two years. An investment decision can look different when retirement is getting closer.
This is also why the first conversation with an adviser matters. You should be able to explain what is happening in your life without feeling as though you need to arrive with everything perfectly organised.
Sometimes the first useful outcome is simply figuring out which issue deserves attention first.
2. Viridian Advisory
Viridian Advisory is another name people may encounter when looking at financial planners around Australia.
For some households, the appeal of a larger advisory business is having somewhere to turn as their circumstances become more involved. The advice someone needs at 35 can be quite different from what they need at 55.
There may be years when the main concern is paying down a home loan. Later, attention might shift towards investments, super and eventually the question of when work can become optional.
If you are considering a larger firm, ask who you will actually deal with. A company can have an impressive name, but most of your experience will come down to the adviser sitting across from you.
3. Evalesco Financial Services
Evalesco Financial Services is based in Sydney and is another firm to consider when comparing financial planners.
One thing an adviser can provide is a reason to stop putting financial jobs off.
It happens easily. You mean to check your super after dinner, but something else comes up. The insurance review can wait until next weekend. That investment account you opened years ago is probably fine. Before long, another year has passed.
Having a regular point at which you actually sit down and look at everything can be valuable in itself.
It is a little like servicing a car. You might not expect anything to be wrong, but you would rather find the small issue while it is still small.
4. Hewison Private Wealth
Hewison Private Wealth is a Melbourne firm that may appeal to people looking for an established private wealth adviser.
Not everybody starts looking for financial advice because something has gone wrong. Quite often, it is the opposite.
Maybe work has gone well and there is finally some spare money each month. Perhaps the mortgage is much smaller than it used to be. A business might be producing a better income, or the children have finished school and household expenses have changed.
These are good problems to have, but they still create questions.
Should the extra money go towards the house? Super? Investments? Should some of it simply be enjoyed now?
There is not one answer that works for every family, which is exactly why personal circumstances matter.
5. Alman Partners
Queensland-based Alman Partners is another option for people comparing advisers.
Where your adviser is located may matter less than it once did. Video meetings have made it fairly normal to deal with professional services without travelling across town for every appointment.
Still, think about what you prefer.
Some people like meeting face to face, particularly when discussing a major decision. Others would much rather have a video call at home with their paperwork sitting beside them and a cup of coffee within reach.
There is no prize for choosing the most sophisticated arrangement. Pick the one that makes it easiest for you to stay involved.
Have a Conversation Before You Decide
A website can tell you plenty about a financial planning firm, but it cannot tell you whether you will get along with the person giving the advice.
That usually becomes obvious in conversation.
Ask what working together actually looks like. How often would you meet? Who do you call when something changes? What will it cost? Will you continue dealing with the same person?
And ask questions when you do not understand something.
You should not need a finance degree to follow a discussion about your own money. If an explanation leaves you more confused than when it started, ask for it again in simpler terms.
A good conversation should leave you with a clearer picture, even if there are still decisions to make.
The Best Choice Is Personal
A list can give you somewhere to begin, but choosing a financial planner is not like comparing phone plans.
You are likely to talk about things that matter to you. That could be retiring earlier, helping your children buy their first home, travelling more or simply reaching the end of the month without wondering whether you should be doing something differently.
So compare experience and services, but notice the smaller things too.
Did the adviser listen? Did you feel rushed? Could you imagine calling them when your circumstances changed?
The best financial planner is not necessarily the person with the longest presentation or the fanciest office. It is someone who understands where you are trying to go and can help you make sense of the decisions between here and there.
