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)