Whether you are starting out investing or want to revisit your investment goals, a financial advisor in New Zealand can help you make the right choices. A good adviser will take into account your risk tolerance, your objectives and your financial circumstances to make the right recommendations.
What can a financial advisor do for me?
A financial adviser can be an expert on a wide variety of products. For example, some advisers offer comprehensive financial plans while others focus on a few specific products. The right financial adviser can help you get started investing, diversify your portfolio, and make important money decisions.
Financial advisors near me in New Zealand are typically members of a professional association. This association will provide them with the necessary training and accreditation to provide you with financial advice. The Financial Advisers Act 2008 sets out requirements for financial advisers to meet. These include meeting certain qualifications, regulations and standards of experience.
You should also be aware that different types of financial advisers have different compliance requirements. Some advisers are required to register with the Financial Services Providers Register (FSPR).
A financial adviser can be a money coach. They can explain the benefits of different financial products and help you choose the ones that best suit your needs. They can also point out things you may not know about investing.
Financial advisers also provide tax planning. This can include using tax allowances, using a KiwiSaver plan, or choosing growth assets over income. Having a good tax position is part of a good risk assessment.