Page 25 - Walking the Wire

ADVISORS
THINGS TO CONSIDER ...
IN USING AN ADVISOR:
z Are you comfortable that you are being heard, not judged and that your interests will be protected?
z Does the advisor have extensive experience in your area of concern?
z Do they speak to you professionally, candidly and with respect?
z Does the advisor listen to your needs?
z Is the advice you are receiving independent? Are your best interest being looked after?
z Do you need a team? There is rarely a one size fits all approach to receiving all the advice you need and you should be wary of advisors who say they can solve every problem you have. In family business in particular, advice will normally need to be a combination of legal, accounting and financial to ensure that all issues are covered appropriately.
z Keep your advisors separate. By having a different accountant, financial planner and lawyer ensures a good level of accountability and prevents one part of a business “feeding” the other with referrals.
z Are they registered with their professional body?
z Do they specialise in clients just like you?
z Do they have extensive experience dealing with your type of issues?
z Are there any bans on them on the MoneySmart website? z Are their fees clear and transparent?
z Are they good communicators?
Walking the Wire, Strengthening the financial security of rural business women | 25