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Don’t Appoint a Financial Planner Before Asking These Questions

Updated: Feb 11, 2023


financial planner

Sex, religion and politics.


These are traditionally the three topics to avoid discussing unless you’re in a ‘safe place’, right? Well, we’d like to add finance to the mix. No, it is not a taboo subject. However, is it something you want to hang out on the washing line for everyone to see? Finding the right financial planner for you is likely to be serious business. Yet it is so much more than that. Your finances are personal, and they play a significant role in much of your life. So ‘handing the keys over’ to just anyone is non-negotiable.


Here at ActOn Wealth, we can assure you of discretion, confidentiality and professionalism. But whether or not you seek us as your wealth wingman, it’s important to do some due diligence before you appoint a financial manager. As such, we’ve pulled together some key boxes you should - actually make that must - tick before you start this professional partnership.


Do your philosophies align?

On the one hand, we should objectively look at money, assets and wealth. However, it is fair to say that behind them all is a very subjective dimension. Why? Because how we generate and dispense our wealth says a lot about who we are and what we value in life. For instance, let’s say you believe that every individual has a responsibility to try and leave the world in a better place than they found it. If so, then you don’t want financial planners who align or earn commission from companies linked to environmental destruction or child labour, for example. Your financial planners should want to get to know you, but equally, you should want to get to know your financial planners. Find out what makes them tick not just as a business but as individuals. If something doesn’t feel right, it isn’t, so don’t force it.


Do they want to know about you?

Imagine you went on a first date. Let’s say your new friend spent the entirety of this first encounter talking about themselves. Or they failed to ask you anything about yourself. The red flag would be flapping furiously, wouldn’t it? Well, it should be the same with a financial planner. This is your wealth, not theirs. Sure, they need to impress you and reassure you that they’re up to the task. However, if they spend the majority of your first meeting trying to wow you with how crash-hot they are, then as your mum would say, they’re just not right for you. And much as we don’t want to admit it, mums are always right, aren’t they?


Are they transparent and forth-coming with information?

The most successful relationships are based on a solid foundation of trust. When it comes to your financial planner, this is paramount. Not to sound dramatic, but we’re talking about your financial present and future here. Financial life goals are serious goals, and the last thing you want is a cowboy or cowgirl shooting from the hip, so to speak. Instead, you need a responsible, reliable wealth builder who regards your finances with the gravitas they deserve. If your potential financial planner is not showing you costs before you come on board, if they’re not alerting you to any alliances, partnerships or commissions that might influence their advice, then exercise extreme caution. The right financial planner is in this for you; your success and confidence contribute to their success and sustainability, not some quick-and-easy clip on the side.


What does the roadmap look like?

All roads lead to Rome, and all of the previous questions link to this one, as it is very telling. A reliable, trustworthy financial planner will give you a transparent road map towards your wealth-building. It will show:


  1. That they are on the same page as you. Their advice fits snug-as-a-bug into your comfort zone of what wealth-building means, where it sits in context with your principles and how much risk you are willing to take.

  2. They are all ears - they have really listened to what you have to say. They have not rolled out some generic template that makes you feel like you would have done better and saved more money just Googling.

  3. They have fully disclosed any alliances, commissions, deals etc., that they may have with third parties. It is perfectly acceptable to have these relationships, by the way. They are often in place to deliver full advantage to you, the client. However, if your financial planner does not disclose them (and justify them), you need to end the relationship before it starts.


Is your roadmap ticking all these boxes?


Your success is our success - contact ActOn Wealth today

ActOn Wealth is not fortunate to have long-term, satisfied clients. No - luck has had nothing to do with it! Instead, we have built our success on expertise, experience, transparency and care for our clients. We treat every one of our clients as individuals who deserve a customised, transparent, trustful path to wealth. So, if you’re starting your financial planning journey or you just haven’t found the right professional fit, contact us today. We’d be delighted to set up a no-cost, no-commitment catch-up and find out more about you, your situation and your goals.


We look forward to you giving us a thorough vetting and passing with flying colours!




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