What Is Financial Advice?

Financial Advisers are professionals who advise on financial planning, insurance, investing and other financial services. They are qualified and usually (but not always) members of Financial Advice New Zealand or similar professional organisations.

Know this first:

You will find a variety of Auckland financial advisers available, but some are aligned with a restricted amount of products from product providers, while others have a wide variety of products that they consider when recommending financial advice.
It is essential you ask the question at the start of the procedure in regards to the depth and variety of the product range of products and providers that they consider along the way of giving advice.
Throughout your life, you're likely to make different investments and buy different financial products at different times. The goal of a financial adviser is to assist you make the right decision by what investments and products are best for you.

Who Runs on the Financial Adviser?
While data is difficult to get, it is reasonable to think that many Financial Adviser clients tend to be 40+ years old with a healthier amount of cash to invest. Younger New Zealanders are unlikely to seek out Financial Advisers, focusing instead on KiwiSaver contributions, buying a home and purchasing bank products and/or managed funds as primary investment options.
When do I need to employ a Financial Adviser?
If you are considering purchasing complicated financial products and need advice, a Financial Adviser might be acquainted with what you are looking at. Financial Advisers in Auckland usually provide guidance for the next:

Investments and Retirement Planning: Managed funds and investment trusts
Insurance: Personal and business insurance
KiwiSaver: Selecting the best provider, switching to a more suitable scheme and contribution consultation
Financial Planning for several ages and stages of life

Just how much does a Financial Adviser cost, and how are they paid?
Generally, meeting a Financial Adviser won't cost anything - they work with commission. Everything you pay usually is dependent upon what you invest - very few Financial Advisers charge an upfront fee (there is a set of fee-charging advisers here). In the event that you invest $100,000, it's possible your adviser is going to be paid around $250-$500 each year by the investment platform you select (representing a 0.25% to 0.50% commission, which isn't uncommon).

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