1. Are they licensed?
Every financial adviser in Australia must be listed on ASIC’s Financial Advisers Register. You can search it by name to see their qualifications, experience, licensee and any bans.
Search the register (external site)
2. How are they paid?
Ask whether they charge a fixed fee or a percentage, and whether they receive any commissions. A good adviser will explain this clearly and in writing.
3. Do they specialise in what you need?
Retirement, aged care, SMSF and insurance advice are different skills. Ask what kinds of clients they mostly help.
4. Do you trust them, and do you understand them?
A good first meeting leaves you feeling clearer, not more confused. If they can’t explain something simply, keep asking.