Welcome to How Do They Afford That, The podcast that peaks into the financial lives of everyday Australians. I'm Michael Thompson. I'm a writer and the co host of the podcast Fear and Greed business news. As always, I'm joined in the studio by Canna Campbell, financial planner, founder of sugar Mama TV, the financial literacy platform covering Instagram and threads and YouTube, podcast books, TikTok and more. Hello, Canna, Hello.

Welcome to How Do They Afford That, The podcast that peaks into the financial lives of everyday Australians. I'm Michael Thompson. I'm a writer and the co host of the podcast Fear and Greed business news. As always, I'm joined in the studio by Canna Campbell, financial planner, founder of sugar Mama TV, the financial literacy platform covering Instagram and threads and YouTube, podcast books, TikTok and more. Hello, Canna, Hello.

Now, I hate to put you on the spot. I feel like we need to just quickly chat about the fact I had a bit of a tough love conversation with you about essentially pulling a finger out and starting to apply some of the ideas and concepts and strategies we've been talking about on how to effort that. And you have, i believe recently started seeing a financial planner, which makes me very happy.

Now, I hate to put you on the spot. I feel like we need to just quickly chat about the fact I had a bit of a tough love conversation with you about essentially pulling a finger out and starting to apply some of the ideas and concepts and strategies we've been talking about on how to effort that. And you have, i believe recently started seeing a financial planner, which makes me very happy.

This is true. All of this is true, and you have criticized me on a number of occasions for not not following the advice that has given on this show. In that I'm happy to talk about it and ask you questions about it, and I'll walk out going Yeah, I'm going to go check my credit score. Yeah, I'm going to go and do this. Yeah, I'm going to bring up my super fund. And then we talk the following week and say, how did you go, like, I haven't done it yet.

This is true. All of this is true, and you have criticized me on a number of occasions for not not following the advice that has given on this show. In that I'm happy to talk about it and ask you questions about it, and I'll walk out going Yeah, I'm going to go check my credit score. Yeah, I'm going to go and do this. Yeah, I'm going to bring up my super fund. And then we talk the following week and say, how did you go, like, I haven't done it yet.

Guilty? Yeah, and I can smell it.

Guilty? Yeah, and I can smell it.

I can you can smell guilt?

I can you can smell guilt?

You would mean I can smell complacency.

You would mean I can smell complacency.

Oh okay, So I was gonna say, if you can spell guilt, there is a career for you in law enforcement part of the canine unit. It's amazing.

Oh okay, So I was gonna say, if you can spell guilt, there is a career for you in law enforcement part of the canine unit. It's amazing.

Well, I do have three labradors now, so yeah, I've become one of them.

Well, I do have three labradors now, so yeah, I've become one of them.

So we are going to flip things around in today's episode, Canna, because I am going to ask you questions about the questions that you would ask yourself, which may sound confusing, but it need not be confusing, because actually that does sound confusing confused because because we are always saying is should get financial advice, and one of the main things that we get asked is kind of how do you find a good financial planner? And you and I have talked about this on the podcast so many times, and we get asked now all the time. And you have told me in the past because I always listen to what you say, and I always follow your advice. You have told me that you should interview them. Interview potential financial planners that you are thinking about working with to make sure that they are a good fit for you and that you are a good fit for them.

So we are going to flip things around in today's episode, Canna, because I am going to ask you questions about the questions that you would ask yourself, which may sound confusing, but it need not be confusing, because actually that does sound confusing confused because because we are always saying is should get financial advice, and one of the main things that we get asked is kind of how do you find a good financial planner? And you and I have talked about this on the podcast so many times, and we get asked now all the time. And you have told me in the past because I always listen to what you say, and I always follow your advice. You have told me that you should interview them. Interview potential financial planners that you are thinking about working with to make sure that they are a good fit for you and that you are a good fit for them.

It's very important. Like your financial planner knows more about you than your doctor, your counselor your therapists, like they know so much even potentially your lawyer. They know the deepest, darkest secrets of your life. So it's important that you really like them as well as obviously trust them.

It's very important. Like your financial planner knows more about you than your doctor, your counselor your therapists, like they know so much even potentially your lawyer. They know the deepest, darkest secrets of your life. So it's important that you really like them as well as obviously trust them.

So I have been doing this. I've been doing exactly this, and I know that your heart is about to burst with pride that I'm doing this because I have been looking around for a good financial planner to help us plan our financial future. But I have no idea what to ask them. I have no idea what to discuss with them in these meetings. The initial kind of fifteen minute or thirty minute conversation that you have with them on the phone, where you're talking about it and trying to suss out whether this is going to be a relationship that works into the future.

So I have been doing this. I've been doing exactly this, and I know that your heart is about to burst with pride that I'm doing this because I have been looking around for a good financial planner to help us plan our financial future. But I have no idea what to ask them. I have no idea what to discuss with them in these meetings. The initial kind of fifteen minute or thirty minute conversation that you have with them on the phone, where you're talking about it and trying to suss out whether this is going to be a relationship that works into the future.

That's a bit awkward. Why we don't make these appointments and it's like going on a bad date.

That's a bit awkward. Why we don't make these appointments and it's like going on a bad date.

Yeah, but you don't plan what you're going to discuss on a date, do you?

Yeah, but you don't plan what you're going to discuss on a date, do you?

You have a few tricks up your sleep, don't you? It's been a long time in't I've got on a date.

You have a few tricks up your sleep, don't you? It's been a long time in't I've got on a date.

But Shan and I have been together for twenty years. I have absolutely no idea what I would do if I suddenly found myself back on the dating scene.

But Shan and I have been together for twenty years. I have absolutely no idea what I would do if I suddenly found myself back on the dating scene.

Well, luckily this episode, we're going to give you all the things to have of your sleep, so there aren't awkward pauses during that initial financial planning appointment.

Well, luckily this episode, we're going to give you all the things to have of your sleep, so there aren't awkward pauses during that initial financial planning appointment.

They just hang up on you, just getting ghosted by your financial planner, Canna. If you were interviewing a financial planner like yourself, what would you ask We are going to put together a list, a lot lists. Number one, what would you ask yourself?

They just hang up on you, just getting ghosted by your financial planner, Canna. If you were interviewing a financial planner like yourself, what would you ask We are going to put together a list, a lot lists. Number one, what would you ask yourself?

Number one? Are you licensed and registered with ASIK?

Number one? Are you licensed and registered with ASIK?

That's really uncomfortable to ask them, Isn't that?

That's really uncomfortable to ask them, Isn't that?

It's extremely important You're not money you're talking about. You need to make sure that this person is not some sort of backyard operator that's going to run off with your money.

It's extremely important You're not money you're talking about. You need to make sure that this person is not some sort of backyard operator that's going to run off with your money.

Are you licensed and registered with ASIK? Can't you just look that up on their website.

Are you licensed and registered with ASIK? Can't you just look that up on their website.

You can, yes, and I recommend everybody does, but you also want them to ask them directly, because then they know this person's done their research, they know what they're talking about. And we're not going to pull the wall up over this person's eyes, are we?

You can, yes, and I recommend everybody does, but you also want them to ask them directly, because then they know this person's done their research, they know what they're talking about. And we're not going to pull the wall up over this person's eyes, are we?

Oh my god, this is so uncomfortable already. That is an uncomfortable question to ask someone.

Oh my god, this is so uncomfortable already. That is an uncomfortable question to ask someone.

Okay, I did use the dating analogy, but we're not literally going to be It is a perfectly acceptable question to ask, and any financial planner you know worth their salt will be like be able to not only answer that correctly and directly, they'll also be able to show evidence.

Okay, I did use the dating analogy, but we're not literally going to be It is a perfectly acceptable question to ask, and any financial planner you know worth their salt will be like be able to not only answer that correctly and directly, they'll also be able to show evidence.

It feels like you're just jumping straight into it, so you walk straight. It's like walking into a date and your opening question is how many kids do you want to have by next year?

It feels like you're just jumping straight into it, so you walk straight. It's like walking into a date and your opening question is how many kids do you want to have by next year?

Why not? Okay?

Why not? Okay?

All right, so that's question one.

All right, so that's question one.

Question number two, what qualifications do you have? Now? This will obviously vary depending on at what stage and age they entered, you know, the financial planning industry, because the pathway and educational crimeents have changed, but generally speaking, they'll have like a bachelor or a master's or a graduate diploma of financial planning. So this is an important question. And I'd also say this is two problems you could say, and that is how long have you been doing this? There are a lot of new financial planners coming into the industry, which is great and desperately needed because there's a shortage of financial planners. But I, for myself, think about where I am at in my journey, and I would probably feel more comfortable with being with someone who's actually maybe five ten years ahead of me, just because they've seen more, done more, got a greater level of experience.

Question number two, what qualifications do you have? Now? This will obviously vary depending on at what stage and age they entered, you know, the financial planning industry, because the pathway and educational crimeents have changed, but generally speaking, they'll have like a bachelor or a master's or a graduate diploma of financial planning. So this is an important question. And I'd also say this is two problems you could say, and that is how long have you been doing this? There are a lot of new financial planners coming into the industry, which is great and desperately needed because there's a shortage of financial planners. But I, for myself, think about where I am at in my journey, and I would probably feel more comfortable with being with someone who's actually maybe five ten years ahead of me, just because they've seen more, done more, got a greater level of experience.

That's a really great tip.

That's a really great tip.

Yeah, so there are two questions that qualifications and how long have you been in doing this?

Yeah, so there are two questions that qualifications and how long have you been in doing this?

I'm comfortable asking them how long have you been a financial plannic? So you can make that kind of fun, like, oh, yeah, so how long you've been doing this for it makes it sound fun. If I turn up and go what qualifications do you have? It makes it sound like I'm doubting them from the start, And I suspect I'm not alone here, And maybe it's a bit of a people pleaser kind of thing that I don't want other people to be uncomfortable, but I would be uncomfortable asking that of someone because they will they will feel like I am questioning them. They will get they'll get their guard up.

I'm comfortable asking them how long have you been a financial plannic? So you can make that kind of fun, like, oh, yeah, so how long you've been doing this for it makes it sound fun. If I turn up and go what qualifications do you have? It makes it sound like I'm doubting them from the start, And I suspect I'm not alone here, And maybe it's a bit of a people pleaser kind of thing that I don't want other people to be uncomfortable, but I would be uncomfortable asking that of someone because they will they will feel like I am questioning them. They will get they'll get their guard up.

Not at all, it is. It is an appropriate question, and it's actually a question that I would really respect because I've worked my backside off to study and you know, to be qualified and to keep up to date with the changing legislation. I've invested a huge amount of time and money to make sure and of course I'm registered and licensed. So I like that question because it's like, finally people are realizing how important those two questions are and the value of what a financial planner can do, and how much you can't just become a financial planner overnight.

Not at all, it is. It is an appropriate question, and it's actually a question that I would really respect because I've worked my backside off to study and you know, to be qualified and to keep up to date with the changing legislation. I've invested a huge amount of time and money to make sure and of course I'm registered and licensed. So I like that question because it's like, finally people are realizing how important those two questions are and the value of what a financial planner can do, and how much you can't just become a financial planner overnight.

It is.

It is.

It takes a good couple of years to really get your foot in the door. So a good financial planner will be like happily answer that with open ups.

It takes a good couple of years to really get your foot in the door. So a good financial planner will be like happily answer that with open ups.

Question number three, what is it all right?

Question number three, what is it all right?

What areas do you specialize in? This is really important because you do not want to go and see a financial planner that specializes in centerlink or retirement strategy. If you are, you know, at the stage of your life where you want to buy a home and think about how you're going to afford to pay for children's education and how you're going to start investing. You need to make sure that what areas they specialize in are appropriate for your needs. So look at what they what areas do they specialize in? You know it, does that match what you're looking for?

What areas do you specialize in? This is really important because you do not want to go and see a financial planner that specializes in centerlink or retirement strategy. If you are, you know, at the stage of your life where you want to buy a home and think about how you're going to afford to pay for children's education and how you're going to start investing. You need to make sure that what areas they specialize in are appropriate for your needs. So look at what they what areas do they specialize in? You know it, does that match what you're looking for?

I like that question, I could ask that one. Finally, a question I can ask comfortably, and we found it at number three. What about question number four?

I like that question, I could ask that one. Finally, a question I can ask comfortably, and we found it at number three. What about question number four?

Fees?

Fees?

Yep?

Yep?

All right, so bear with me with this is not quite as straightforward as it may sound. You obviously need to know before you make any decisions the costs, and it's not just an upfront cost, it's an ongoing cost as well. So most financial planners will offer a free appointment and then they may charge for a potential second appointment. But if you want to get a statement of advice, you have to pay for that. So you need to know obviously how much that costs, and I think on average it's around out sort of three and a half to five and a half thousand dollars for that initial statement advice. You then need to know what they charge ongoing. Now this is important because you want to know if there's some flexibility with this. There are people out there who are actually highly financially literate, but they just need help in one particular area. So you want to know whether you can potentially pay a financial planner just to help fix certain situation for you and then look at whether they will have that flexibility to maybe work with them on maybe an hourly basis, just to review that particular element or area for their finances once a year, rather than having to commit to a whole full fee service level.

All right, so bear with me with this is not quite as straightforward as it may sound. You obviously need to know before you make any decisions the costs, and it's not just an upfront cost, it's an ongoing cost as well. So most financial planners will offer a free appointment and then they may charge for a potential second appointment. But if you want to get a statement of advice, you have to pay for that. So you need to know obviously how much that costs, and I think on average it's around out sort of three and a half to five and a half thousand dollars for that initial statement advice. You then need to know what they charge ongoing. Now this is important because you want to know if there's some flexibility with this. There are people out there who are actually highly financially literate, but they just need help in one particular area. So you want to know whether you can potentially pay a financial planner just to help fix certain situation for you and then look at whether they will have that flexibility to maybe work with them on maybe an hourly basis, just to review that particular element or area for their finances once a year, rather than having to commit to a whole full fee service level.

But you would still need the initial statement of advice in that scenario.

But you would still need the initial statement of advice in that scenario.

Yes, so it is worth asking is their flexibility can you just focus on maybe, for example, my insurances or can you just focus on fixing up my super And I'm still happy, happily taking care of my share portfolio. So this is why, and this could potentially save you a lot of money. You don't feel like you're sort of backed in a corner where it's all or nothing, And you know, can I look at adding that service back in in a year or two is time once I've seen the performance of my superannuation or seeing how this relationship goes, and a good financial planner will work with you on that and.

Yes, so it is worth asking is their flexibility can you just focus on maybe, for example, my insurances or can you just focus on fixing up my super And I'm still happy, happily taking care of my share portfolio. So this is why, and this could potentially save you a lot of money. You don't feel like you're sort of backed in a corner where it's all or nothing, And you know, can I look at adding that service back in in a year or two is time once I've seen the performance of my superannuation or seeing how this relationship goes, and a good financial planner will work with you on that and.

Respect that, and can you ask them then to provide that to you like a fee structure.

Respect that, and can you ask them then to provide that to you like a fee structure.

Yes, in writing, and this is where you go through all the forms and you agree and you sign off her and everything so that you understand exactly what you're up for financially.

Yes, in writing, and this is where you go through all the forms and you agree and you sign off her and everything so that you understand exactly what you're up for financially.

Okay, number five, what have you got there? All right?

Okay, number five, what have you got there? All right?

I'm all about efficiency and that is what other services do you offer it? You know, financial planning covers a wide range of things like superannuation, personal insurances, investing, but there may be other services that you need, such as an accountant or a mortgage broker, or even you know a coach, a financial coach or a budgeting coach. It can be for everyone's benefit if they offer one stop shop in that practice. Can you know across the room there is you know, your accountant, and on the other side of the room is your mortgage broker. It means that things can often get done very very quickly because they work right next to each other, rather than having to make phone calls, play phone tennis, wait for that the client's accountant to return that call or reply to that email. So it does add definitely an element of efficiency. If you've got all of those services under the one.

I'm all about efficiency and that is what other services do you offer it? You know, financial planning covers a wide range of things like superannuation, personal insurances, investing, but there may be other services that you need, such as an accountant or a mortgage broker, or even you know a coach, a financial coach or a budgeting coach. It can be for everyone's benefit if they offer one stop shop in that practice. Can you know across the room there is you know, your accountant, and on the other side of the room is your mortgage broker. It means that things can often get done very very quickly because they work right next to each other, rather than having to make phone calls, play phone tennis, wait for that the client's accountant to return that call or reply to that email. So it does add definitely an element of efficiency. If you've got all of those services under the one.

Roof, this is rapidly becoming one of my favorite episodes because I'm so touch thank you. It's because it's motivated by self interest, because you are actually helping me put together a list that I am going to use. I might shuffle the order around so that I'm not opening with the awkward questions. Figure out ways later on? How do I disguise those questions hidden amongst the others. Let's take a quick break. We've got the first five. We will come back in a mine and get six, seven, eight, nine, and ten. How we are talking today about questions to ask a financial planner. So this is in the initial like the fifteen minute free consultation, the free kind of meeting where it's to get to know you and just to see whether you are a good fit for each other and whether they are the right people to help you achieve your financial goals. So we've been through the first five questions, Number six, what have you got?

Roof, this is rapidly becoming one of my favorite episodes because I'm so touch thank you. It's because it's motivated by self interest, because you are actually helping me put together a list that I am going to use. I might shuffle the order around so that I'm not opening with the awkward questions. Figure out ways later on? How do I disguise those questions hidden amongst the others. Let's take a quick break. We've got the first five. We will come back in a mine and get six, seven, eight, nine, and ten. How we are talking today about questions to ask a financial planner. So this is in the initial like the fifteen minute free consultation, the free kind of meeting where it's to get to know you and just to see whether you are a good fit for each other and whether they are the right people to help you achieve your financial goals. So we've been through the first five questions, Number six, what have you got?

Well, now that we've got the formalities out of the way, we're going to get a little bit down and dirty, and I get more down and dirty. You heard it right on haw to bear for that? Is it inappropriate? No?

Well, now that we've got the formalities out of the way, we're going to get a little bit down and dirty, and I get more down and dirty. You heard it right on haw to bear for that? Is it inappropriate? No?

Oh, as far as you've said this out, as far as inappropriate things that you have said on this podcast. This is actually pretty clean, and half the time you don't even realize that you're saying things that are that have very much they've got other meanings.

Oh, as far as you've said this out, as far as inappropriate things that you have said on this podcast. This is actually pretty clean, and half the time you don't even realize that you're saying things that are that have very much they've got other meanings.

I just want to get to the meat of whether this potential relationship is going to work for you or not, because I do not want to see you waste any more time flapping around doing nothing.

I just want to get to the meat of whether this potential relationship is going to work for you or not, because I do not want to see you waste any more time flapping around doing nothing.

So well, have we been doing this podcast for is it years? Two years? Yeah?

So well, have we been doing this podcast for is it years? Two years? Yeah?

More than two years?

More than two years?

So you're suggesting that I have flapped around?

So you're suggesting that I have flapped around?

Absolutely? Hell, yes, you're just dilly daddled and I'm sick of watching this. So I'm so happy you're seeing a financial plan.

Absolutely? Hell, yes, you're just dilly daddled and I'm sick of watching this. So I'm so happy you're seeing a financial plan.

Well, in the interest of efficiency, what is number six review service?

Well, in the interest of efficiency, what is number six review service?

So a financial planner? Obviously you meet with them and they fix initially what's going on. But the review service is incredibly important because this is where you start to actually see real progress with your financial journey. So you need to unswer them. How do you work on an ongoing basis? Does this mean catching up once a year, does this mean catching up twice a year or four times a year? And are those catch ups done in person over the phone or can we do like over zoom. Now within this question is a very important one, and that is what if your situation changes? You know, are you going to charge me extra to come in and see you because all of a sudden, I've you know, getting divorced or I don't mean you obviously, but you know, or I've just inherited a whole pile of money, or I'm about to lose my job. Are you going to charge me an additional fee because I've already used up my review service on the ongoing fee? So it's important to understand how flexible there are for when the tide changes or something unexpected happens. Will they make space for you and work with you on your financial journey when suddenly something comes up. A good financial plan will be like, no, if something comes up and you need to see us, we are here to help you, and obviously they'll work out some sort of agreement whether you're in your review service includes X amount of ours or X amount of reviews or sometimes what I used to do when those situations that's just pardon parcel of the you know how it works. It'd be like, of course, I'm not going to charge you to see you again, or if I need to do a new statement advice for you. That's life and we'll work with this. This is what I do, This is what I help you. So it is important to understand where those boundaries are upfront if you need additional advice because something's suddenly changed.

So a financial planner? Obviously you meet with them and they fix initially what's going on. But the review service is incredibly important because this is where you start to actually see real progress with your financial journey. So you need to unswer them. How do you work on an ongoing basis? Does this mean catching up once a year, does this mean catching up twice a year or four times a year? And are those catch ups done in person over the phone or can we do like over zoom. Now within this question is a very important one, and that is what if your situation changes? You know, are you going to charge me extra to come in and see you because all of a sudden, I've you know, getting divorced or I don't mean you obviously, but you know, or I've just inherited a whole pile of money, or I'm about to lose my job. Are you going to charge me an additional fee because I've already used up my review service on the ongoing fee? So it's important to understand how flexible there are for when the tide changes or something unexpected happens. Will they make space for you and work with you on your financial journey when suddenly something comes up. A good financial plan will be like, no, if something comes up and you need to see us, we are here to help you, and obviously they'll work out some sort of agreement whether you're in your review service includes X amount of ours or X amount of reviews or sometimes what I used to do when those situations that's just pardon parcel of the you know how it works. It'd be like, of course, I'm not going to charge you to see you again, or if I need to do a new statement advice for you. That's life and we'll work with this. This is what I do, This is what I help you. So it is important to understand where those boundaries are upfront if you need additional advice because something's suddenly changed.

Number seven, that's a great that's a great tip. That is actually the kind of tip that I would not have come up with on my own.

Number seven, that's a great that's a great tip. That is actually the kind of tip that I would not have come up with on my own.

Number seven, Number ten cool, and.

Number seven, Number ten cool, and.

But eight nine are just a bit of a dip in quality, are they? That's just that's okay? What's number seven? All right?

But eight nine are just a bit of a dip in quality, are they? That's just that's okay? What's number seven? All right?

This is more of a peaking into the financial planner's insight and their attitude because, as I said, this is a relationship you want to click with your financial plannet because they do know so much about you. They can sense the quality of your relationship. They understand the family dynamics, they know about your personal health issues because obviously insurance applications. It's a friendship to a certain degree, and you need to be able to rely on this person. So this is a question I would ask, is what do you see as being the biggest challenge for me or us with our financial goals. Now that opens up a safe space for the financial planner to really, I guess, open up their heart. I know this sounds a bit cheesy, but to actually say well, look, you know, this is what I really think, or this is what I would be concerned about, or this is where I think we can make really great progress and have a great breakthrough for you. You can see their attitude and of course you want someone as in a financial planner that is positive, that is empowering, that you know, can see, you know, the blessings in disguise, can see the opportunities you know is going to work for you. So it's more of a you know, a peek into their mindset.

This is more of a peaking into the financial planner's insight and their attitude because, as I said, this is a relationship you want to click with your financial plannet because they do know so much about you. They can sense the quality of your relationship. They understand the family dynamics, they know about your personal health issues because obviously insurance applications. It's a friendship to a certain degree, and you need to be able to rely on this person. So this is a question I would ask, is what do you see as being the biggest challenge for me or us with our financial goals. Now that opens up a safe space for the financial planner to really, I guess, open up their heart. I know this sounds a bit cheesy, but to actually say well, look, you know, this is what I really think, or this is what I would be concerned about, or this is where I think we can make really great progress and have a great breakthrough for you. You can see their attitude and of course you want someone as in a financial planner that is positive, that is empowering, that you know, can see, you know, the blessings in disguise, can see the opportunities you know is going to work for you. So it's more of a you know, a peek into their mindset.

Well when does that question come into it? Is that because that wouldn't be in the initial meeting because they would need to know a bit about you in order to answer that question, wouldn't they.

Well when does that question come into it? Is that because that wouldn't be in the initial meeting because they would need to know a bit about you in order to answer that question, wouldn't they.

Well, during most financial planning appointments, you do, you start talking about your story, and you know, a financial planner will ask, you know, tell me about who you are, what's going on, what are you worried about? So they'll know they'll already have things that you know, some red flags that they think all this client really need to catch up on their super or this client is you know, there's got lots of equity. There's so much opportunity here for them, so they would have banked those already. And you know, listen to the way they explain things to you, and you know, some financial planners can explain things verbally beautifully, whereas maybe they struggle in a written document. Obviously, you have statement advice is very very clear and precise, but some different people process information in different ways. So not only is a great way to see their mindset and their attitude, it is a great way to actually see how they communicate their communications style.

Well, during most financial planning appointments, you do, you start talking about your story, and you know, a financial planner will ask, you know, tell me about who you are, what's going on, what are you worried about? So they'll know they'll already have things that you know, some red flags that they think all this client really need to catch up on their super or this client is you know, there's got lots of equity. There's so much opportunity here for them, so they would have banked those already. And you know, listen to the way they explain things to you, and you know, some financial planners can explain things verbally beautifully, whereas maybe they struggle in a written document. Obviously, you have statement advice is very very clear and precise, but some different people process information in different ways. So not only is a great way to see their mindset and their attitude, it is a great way to actually see how they communicate their communications style.

Okay, I like that tip. That is great. Let's go to number eight, which is not one that you told me to look out for us. I'm guessing this is just did you phone this one in?

Okay, I like that tip. That is great. Let's go to number eight, which is not one that you told me to look out for us. I'm guessing this is just did you phone this one in?

So this is actually about their own plans and that is what is your game plan with your life? Now? It is a little bit personal, but it's that's okay.

So this is actually about their own plans and that is what is your game plan with your life? Now? It is a little bit personal, but it's that's okay.

I've already asked them if they're registered and licensed and what qualifications. I've got no problem at this point with getting personal is.

I've already asked them if they're registered and licensed and what qualifications. I've got no problem at this point with getting personal is.

An important one because people, you know these days don't stay in one career path. They change industries, they change careers. You don't want to be invested in someone financially and emotionally to have them then say, oh, look, I've decided I'm not going to be in financial planning any year. I've got to you know, I'm taking up a new career path. I'm going to go into teaching or become a tennis coach or something like that. It's you want to know that they're going to, you know, work with you long term. You know, five, six, seven, eight, nine, ten years. You know, I ran my financial planning practice for something like seventeen or eighteen years. I've been in a financial planning industry for twenty something years. So it's important that they are going to be around because there is nothing worse than having to start all over again with a new person explaining where you're up to, what you're doing, what's important to you. And yes, a lot of it's all contained in the client file, but there's a lot of stuff that just can't be. And also, what if you don't like that new person. If you since that person doesn't see this as being a long term career path, traade carefully keep looking around, okay, because that is frustrating and also it means you may potentially have to pay a whole new statement of advice fee as well, because you.

An important one because people, you know these days don't stay in one career path. They change industries, they change careers. You don't want to be invested in someone financially and emotionally to have them then say, oh, look, I've decided I'm not going to be in financial planning any year. I've got to you know, I'm taking up a new career path. I'm going to go into teaching or become a tennis coach or something like that. It's you want to know that they're going to, you know, work with you long term. You know, five, six, seven, eight, nine, ten years. You know, I ran my financial planning practice for something like seventeen or eighteen years. I've been in a financial planning industry for twenty something years. So it's important that they are going to be around because there is nothing worse than having to start all over again with a new person explaining where you're up to, what you're doing, what's important to you. And yes, a lot of it's all contained in the client file, but there's a lot of stuff that just can't be. And also, what if you don't like that new person. If you since that person doesn't see this as being a long term career path, traade carefully keep looking around, okay, because that is frustrating and also it means you may potentially have to pay a whole new statement of advice fee as well, because you.

Don't want to be doing that.

Don't want to be doing that.

Yeah, and that's the expensive exactly number nine. All right, So this is ask for some success stories. I would occasionally have clients, your potential new clients come to me and say, look, I really want to work with you. Would have some great meetings and they would say, look, do you have any people that I can speak to that have worked with you? And I would, obviously with my client's approval, give them their telephone numbers and said, absolutely, give these people a call. They'll give you your their honest opinion of the experience, how it works, the quality of the relationship, the value that I've added. I think that is something that is you are well within your right to ask, and you know written testimonials as well, and that they should be on the website of a client's financial planning practice anyway, but that is really important, and that conversation you have with your potential financial planners existing clients can be really insightful.

Yeah, and that's the expensive exactly number nine. All right, So this is ask for some success stories. I would occasionally have clients, your potential new clients come to me and say, look, I really want to work with you. Would have some great meetings and they would say, look, do you have any people that I can speak to that have worked with you? And I would, obviously with my client's approval, give them their telephone numbers and said, absolutely, give these people a call. They'll give you your their honest opinion of the experience, how it works, the quality of the relationship, the value that I've added. I think that is something that is you are well within your right to ask, and you know written testimonials as well, and that they should be on the website of a client's financial planning practice anyway, but that is really important, and that conversation you have with your potential financial planners existing clients can be really insightful.

I like that because it goes beyond a Google review kind of like two lines, I think, and especially if you actually talk to someone that you can get a bit of a bit more of a vibe from them.

I like that because it goes beyond a Google review kind of like two lines, I think, and especially if you actually talk to someone that you can get a bit of a bit more of a vibe from them.

I'm all for getting background feedback from people, and you can learn about things or they can warn you about certain things that help make the relationship go more smoothly.

I'm all for getting background feedback from people, and you can learn about things or they can warn you about certain things that help make the relationship go more smoothly.

You have promised me something spectacular for number ten. Is it? Is it going to live up to your your kind of your grand hype that you've built.

You have promised me something spectacular for number ten. Is it? Is it going to live up to your your kind of your grand hype that you've built.

Get to know them like you. The financial planning appointment is all about you. You know what's going on in your world, what's important to you? What are you worried about?

Get to know them like you. The financial planning appointment is all about you. You know what's going on in your world, what's important to you? What are you worried about?

You?

You?

You?

You?

You?

You?

And rightfully so, once you've got you know, air everything, ask them questions about them, you know, tell me about yourself, you know what's important to you, you know, see what their world is about. Because as I said, this is a relationship, there is an element of being a friendship. And you know I've said this before, it is you want someone who's got skin in the game. You want someone who understands the stress, the frustrations, the setbacks and is in there, you know, fighting with you. So you know you want a financial planner. There's also passionate about their own financial wellbeing. It's kind of like going to a doctor and getting health advice when they are clearly unhealthy and unfit and don't have a great quality of lifestyle. You want someone who is going to empower you, get you excited, allow you to see all the possibilities out there for you to improve your financial wellbeing and how you can go from strength to strength. So you want them to be walking the walk as well as just talking it. So I think that's really important and that would definitely be a non negotiable for me. I'm not going to take financial advice with someone who's not following themselves.

And rightfully so, once you've got you know, air everything, ask them questions about them, you know, tell me about yourself, you know what's important to you, you know, see what their world is about. Because as I said, this is a relationship, there is an element of being a friendship. And you know I've said this before, it is you want someone who's got skin in the game. You want someone who understands the stress, the frustrations, the setbacks and is in there, you know, fighting with you. So you know you want a financial planner. There's also passionate about their own financial wellbeing. It's kind of like going to a doctor and getting health advice when they are clearly unhealthy and unfit and don't have a great quality of lifestyle. You want someone who is going to empower you, get you excited, allow you to see all the possibilities out there for you to improve your financial wellbeing and how you can go from strength to strength. So you want them to be walking the walk as well as just talking it. So I think that's really important and that would definitely be a non negotiable for me. I'm not going to take financial advice with someone who's not following themselves.

That is a fantastic list.

That is a fantastic list.

It's thorough.

It's thorough.

It is a very very good list. So number one a licensed and registered with Ask number two, what qualifications do you have? How long have you been doing this? Number three? What areas do you specialize in? Number four? All about the fees? Number five? What are the services do you offer? Not just kind of super and investing and insurances, but kind of accounting, mortgage breaking, that kind of thing. Number six the review service? How do you work ongoing? Kind of how many times per year? What if my situation changes? What's required then in order for us to kind of keep on working and keep on building towards those goals. Number seven, what do you see is the biggest challenge for me and for my financial goals? Which is a great one that is kind of tells you straight up how switched on they are for one thing, and also kind of what vision they have for you as well.

It is a very very good list. So number one a licensed and registered with Ask number two, what qualifications do you have? How long have you been doing this? Number three? What areas do you specialize in? Number four? All about the fees? Number five? What are the services do you offer? Not just kind of super and investing and insurances, but kind of accounting, mortgage breaking, that kind of thing. Number six the review service? How do you work ongoing? Kind of how many times per year? What if my situation changes? What's required then in order for us to kind of keep on working and keep on building towards those goals. Number seven, what do you see is the biggest challenge for me and for my financial goals? Which is a great one that is kind of tells you straight up how switched on they are for one thing, and also kind of what vision they have for you as well.

You want to positive vision nims and go well, I'm really worried that your stuffed and left it too late. That is not the financial one of you.

You want to positive vision nims and go well, I'm really worried that your stuffed and left it too late. That is not the financial one of you.

Oh I like that? Okay. Number eight, what is your own game plan? Are you sticking around? You love the industry, You're going to be doing this for a while. Number nine, ask for success stories? Who can I talk to that will give me an insight into how the whole system works? And finally get to know them personally. Get to know them because they are someone that you're going to hopefully be working with for a very long time, and they're going to know an awful lot about you, so it's only fair that you probably know something about them. Great list. I'm going to use this list to go in to my meetings.

Oh I like that? Okay. Number eight, what is your own game plan? Are you sticking around? You love the industry, You're going to be doing this for a while. Number nine, ask for success stories? Who can I talk to that will give me an insight into how the whole system works? And finally get to know them personally. Get to know them because they are someone that you're going to hopefully be working with for a very long time, and they're going to know an awful lot about you, so it's only fair that you probably know something about them. Great list. I'm going to use this list to go in to my meetings.

Can I just make one simple suggestion for me for any awkward questions, just leave those to your wife, Sean or I'll them perfectly.

Can I just make one simple suggestion for me for any awkward questions, just leave those to your wife, Sean or I'll them perfectly.

Oh she probably will, she'll do a better job than I will, or charming, delightful, or I will say Canna told me to ask you this, and I will put it all back onto you. Is that all right?

Oh she probably will, she'll do a better job than I will, or charming, delightful, or I will say Canna told me to ask you this, and I will put it all back onto you. Is that all right?

Okay? Fine?

Okay? Fine?

Thank you? All right. Financial Planners of Australia, look out. I'm coming armed with a very very comprehensive list, Canna. Where can we find more information from you?

Thank you? All right. Financial Planners of Australia, look out. I'm coming armed with a very very comprehensive list, Canna. Where can we find more information from you?

The best place to always get in contact me is on Instagram at Sugar Mama TV.

The best place to always get in contact me is on Instagram at Sugar Mama TV.

And you can hear me every day with Sean Aylmer on Fear and Greed daily business news for people who make their own decisions. Remember to hit follow on the podcast. And the very best thing that you can do is tell somebody else or if they are in a similar situation to me and looking for a financial planner and having these conversations, just send them this episode and they can use this list as well and it will help us spread them about how do they afford that? Thank you very much for your company. Join us again next week.

And you can hear me every day with Sean Aylmer on Fear and Greed daily business news for people who make their own decisions. Remember to hit follow on the podcast. And the very best thing that you can do is tell somebody else or if they are in a similar situation to me and looking for a financial planner and having these conversations, just send them this episode and they can use this list as well and it will help us spread them about how do they afford that? Thank you very much for your company. Join us again next week.