A lot of people google ‘financial consultant near me’. Why? …
I was surprised to recently learn that a significant number of people use the internet search terms, “financial consultant near me”, “financial advisor near me” or “retirement planning advice near me” when trying to find a financial planner. Should you be basing your choice of financial planner simply on what suburb they live in?
I think not, especially in this day and age. If you can get phone and internet reception sitting on the beach in the picture above, then you can receive active financial planning advice.
Retirement Planning near me – Drive further
Each financial planner operates differently to others, and this means there is variability in how they structure the frequency of client meetings and communications. And, whilst Cornish Wealth Management has a fixed price for their financial planning fees, most financial planners offer different service packages at different fee levels. So there is even variability in the services financial planning clients receive from the same financial planner. In general though, I would say that the vast majority only meet physically with their financial adviser once a year. Probably much the same as their accountant.
As such, does it really matter if the adviser is in your immediate vicinity or not? Saving an extra 10 or 20 minutes on a once a year drive should not be a basis on how to choose your financial adviser.
Financial Consultant Near me – use technology
Trust
I understand better than most that the relationship with your financial adviser must be based on trust. And that trust is best earned in person. As mentioned in our ‘What is financial planning?‘ blog post, trust is a core component to financial planning. Financial Planners literally know the combined information of all your other advisers. They know as much about you as what your doctor, lawyer and accountant knows. Financial Planners also know your personal dreams and aspirations.
A good advice relationship can only operate effectively if there is trust. So yes, you probably shouldn’t google someone and start trusting them with confidential information without ever meeting them in person. But if you live remotely, and just meet the adviser in person at the start of the relationship and then mainly electronically in the years ahead, is that a problem? To some it might be, to others it may even be a preferred option.
Annual Client Agreement
Cornish Wealth Management has clients from Karratha (where I started my financial planning career with Westpac Bank in 2004), down to Albany, out to Melbourne and everywhere in-between. The services we promise to deliver in our Annual Client Agreement include:
- Being available when required to answer any financial planning related questions (which is often done over the phone), and
- Advising clients of relevant legislative and economic changes (which is often done my email), and
- Advising of relevant Federal Budget information (which is done by email), and
- Dealing with Centrelink on behalf of clients (done electronically through Centrelink’s portal we have access to), and
- Advising of any issues with existing investments or potential new ones (mainly done through phone and email), and
- Two formal reports on the current investment portfolio and the ratings on each investment from two Research Houses (which is done by email).
The above is normally all done electronically and not in person.
Whilst we do meet with most of our Perth based clients in-person once a year for a progress meeting, this is not always the case. And clients further afield we meet with much less. But they still trust us and our financial advice. They still communicate regularly with us and the wonderful thing is, for clients who like to communicate in person but aren’t near me, we can now use zoom. With technological advances, and people becoming more comfortable with using technology since Covoid-19, is it as important to have a “financial consultant near me”?
Search for ‘independent’ instead
The purpose of this blog is to highlight that searching for a financial adviser “near me” may not be the best criteria on which to choose your financial planner. At Cornish Wealth Management , we recommend you google “Independent Financial Planner” (or Adviser, Advisor, Advice etc.)
Independence is a better sign that the advice you receive is impartial, conflict free and designed around your best interests.
Or you can simply contact us. We may not be near you, but we’re always accessible to you.
