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Where to get personal financial advice

For any person wanting to maintain or grow their wealth, simply gambling on investments is not the best strategy. While reading about business news is a great start to understanding investments, you also need to understand your own expectation and capabilities as an investor.

That is where seeking professional advice from a financial service provider can be the difference between a good and bad investment. For one, they can advise you based on your personal circumstances and preferences and provide you unbiased advice. But more importantly, they can recommend investment plans and strategies for you, which will ensure your money is being invested in the most efficient and effective way possible.

When choosing a financial adviser in Melbourne, make sure they hold an Australian financial services (AFS) licence. People providing financial advice without this licence are servicing you illegally. AFS licenced adviser are regulated by the Australian Securities and Investments Commission (ASIC) and are therefore less likely to misuse your money. When meeting with a potential advisor, be sure to ask lots of questions – until you feel comfortable with them and that they have the right experience to assist you.

Be sure to do your research and meet with a couple of shortlisted advisers. Some advisers will be better for you than others. But overall, the best financial advisers in Melbourne will put your needs first, works often with people in a similar situation with you, and gets along with you personally.

When you do get to finally sit down with your chosen financial adviser, that is when you can discuss your situation in detail. From there, your trusted financial adviser can propose plans, strategies and recommend financial products that will help you meet your personal and financial goals. Moreover, if something goes wrong with your investment, you have the right to make a complaint to the financial service provider or ASIC. For registered and licenced financial service providers, they are subject to regulatory standards, operating guidelines and disciplinary procedures.

Choosing a financial adviser is an important decision, as you will be sharing a great detail about your personal and financial circumstances. But professional financial service providers in Melbourne have ethical and regulated practices in place that help prevent misconduct. If you are considering seeking reliable financial advice in Melbourne, be sure to do your research and ask lots of questions.