What to look for when seeking a financial adviser...

Here’s how to find a financial adviser who provides the right support for you…

Financial advice plays a vital role in helping Australians build wealth and achieve their goals—whether they’re just starting their careers or planning for retirement.

Effective advice can deliver measurable improvements in outcomes through appropriate asset allocation, cost-efficient implementation, and thoughtful spending strategies. It also offers significant emotional value—providing reassurance, clarity, and confidence during uncertain times.

Advice needs vary from simple to complex. However, there are several fundamental qualities everyone should look for when choosing an adviser. Below are five key factors to help you make an informed decision.

They take the time to understand you…

Personal finance is deeply personal. The best advisers invest time in understanding your interests, aspirations, motivations, and concerns before focusing on the numbers.

This understanding builds trust and encourages open, honest conversations about money. More importantly, it enables advisers to identify and set meaningful, realistic financial goals.

Beyond investment management, advisers may assist with spending decisions, superannuation, cash flow management, insurance, estate planning, and more. Delivering effective guidance in these areas requires a clear understanding of your values, risk tolerance, and long-term objectives.

Because no two people are the same, advice tailored to your personal goals gives you the strongest chance of achieving the life you envision.

They have a clear investment philosophy…

An adviser’s investment philosophy serves as the framework for how they manage your money. It reflects their beliefs about how markets function and how best to help you reach your goals.

For example: Do they view markets as largely efficient, or influenced by periods of irrational behavior? How do they align your portfolio with your risk tolerance? How do they manage costs while keeping your strategy on track?

You don’t need technical expertise to evaluate an adviser’s philosophy—but you should be able to understand it clearly.

A strong investment philosophy promotes discipline and a long-term perspective. It should be grounded in clear principles that shape recommendations, set expectations, and provide guidance during market downturns.

They coach you through market ups and downs…

Investing is emotional. It’s easy to stay committed to a long-term plan when markets rise, but volatility can test your confidence.

Today’s advisers increasingly serve as financial coaches—helping clients make decisions aligned with long-term objectives rather than short-term emotions.

Navigating markets alone can be challenging. A skilled adviser helps you create a tailored plan and supports you through periods of uncertainty by offering perspective, expertise, and behavioral insights.

They listen carefully, address concerns, and recommend prudent adjustments when necessary—while reinforcing the importance of discipline. Along the way, they educate and empower you, building trust and confidence in your financial journey.

They use technology to enhance the human elements of advice…

Technology cannot replace genuine human connection. However, when used effectively, it can streamline processes and enhance your overall advice experience—freeing more time for meaningful conversations.

Research shows that most investors still prefer working with human advisers when receiving financial guidance. While digital tools add convenience, personal relationships remain central to effective advice.

They focus on investment outcomes…

Costs are a critical factor in long-term investment outcomes. Even small differences in fees can compound significantly over time.

Managing investment costs—such as advisory fees and trading expenses—ensures more of your money remains invested and working toward your goals.

Index funds, diversified funds, and ETFs are increasingly used as portfolio building blocks because they can help manage costs while supporting diversified, risk-adjusted strategies.

However, while minimising fees is important, it should not be the sole consideration. The priority is securing a high-quality investment solution aligned with your goals and risk profile.

Even in systematised approaches such as index management, experienced managers can add value through scale, operational efficiency, and disciplined portfolio oversight.

Start the conversation…

Concerns about the future and market uncertainty are natural. A strong adviser combines technical expertise with an understanding of the emotional side of investing.

Ultimately, the value of advice lies in helping you face the future with clarity and confidence.

If you believe you could benefit from financial guidance, consider starting a conversation with an adviser. You may also seek recommendations from trusted contacts or consult reputable resources to support your search.

For more resources on finding an adviser, or to check the financial adviser register, visit https://moneysmart.gov.au/financial-advice.

Rick Maggi, Westmount Financial, Financial Adviser (Perth)

RBA lifts rates...

The Reserve Bank of Australia (RBA) has made the decision to increase the cash rate by 25 basis points, bringing the official cash rate up to 3.85 per cent.

While boding potential bad news for homeowners, the decision to hike will likely leave market commentators and analysts unsurprised. Economists predicted the RBA would hike the cash rate following stronger-than-expected inflation figures, labour market resilience and solid consumer demand.

Data released by the Australian Bureau of Statistics (ABS) revealed that headline inflation rose 3.8 per cent in the year to December 2025, up from 3.4 per cent in November. Underlying trimmed mean inflation rose 0.9 per cent over the quarter and 3.4 per cent over the year.

Today’s decision marks the first time the RBA has increased the official cash rate since November 2023, which was followed by an extended period of cash rate holds (at 4.35 per cent) before delivering three rate cuts (in February, May and August 2025).

On the positive side, 12-month Term Deposit rates are now back around the 4.50% level.

Rick Maggi CFP, Westmount Financial, Financial Adviser (Perth)

Rates set to rise...

Higher-than-expected inflation has increased pressure on the Reserve Bank of Australia (RBA) to raise interest rates next week, potentially driving up mortgage costs.

Annual price growth accelerated at the end of 2025, exceeding forecasts and reinforcing expectations of further rate hikes—one of the central bank’s primary tools to cool the economy.

According to the Australian Bureau of Statistics, the Consumer Price Index (CPI) rose 3.8% in the year to December, up from 3.4% in November. On a monthly basis, the CPI climbed 1%.

The trimmed mean, which reflects underlying inflation by excluding extreme price changes, rose 3.3% annually in December, edging up from 3.2% the previous month.

The RBA’s rate-setting board will announce its first decision of 2026 this Tuesday.

Following Wednesday’s inflation data, economists at Westpac and ANZ revised their forecasts and now expect the RBA to raise the cash rate next week. All four major banks are predicting a 0.25 percentage point increase.

Rick Maggi CFP, Financial Advisor Perth, Westmount Financial

Investing without blind spots...

How Investor Biases and Inertia Affect Portfolios—and How to Overcome Them

Behavioural economics might not be the first consideration when managing a portfolio, but it could be the missing link to better investment outcomes.

In this episode of Vanguard’s Better Vantage, Andy Reed, head of investor behaviour research at Vanguard, explores how behavioural economics bridges the gap between what investors should do and what they actually do.

“Our job is to identify the gaps between what economists say is the normative thing to do and what people actually do with their money in the real world,” Reed explains.

He notes that while most portfolio decisions aren’t urgent, certain moments can significantly shape long-term results. “Often with your portfolio, it’s not like you have five minutes to make a life-or-death decision,” he says. “But there are moments that matter, and if you make the right choice, you’ll be in a much better position over time.”

Reed also encourages investors to examine their financial blind spots and adopt strategies that support their long-term goals.

Watch Video (16 mins)

Rick Maggi, Financial Advisor Perth, Westmount Financial