Choosing a suitable financial adviser might seem like a challenge, but if you need help with an important financial decision, it is worth the effort. The key to finding the right financial adviser is working out what type of advice you want and what you would like to achieve. There are lots of reasons why you may consider seeking financial advice but there are also lots of different types of financial advisors on the Sunshine Coast, so it pays to know who to go to and what you can expect to pay.
Independent vs. Restricted Advisers
There are two main types of financial advisers – independent and restricted – and this can affect the advice you receive. Independent advisers are able to recommend a wide variety of financial products. They consider products from all firms across the market, and have an obligation to provide you with unbiased and unrestricted financial advice.
With so many different home loans to choose from, you may want consider hiring a mortgage broker in the Sunshine Coast to do most of the legwork for you. A broker can help you search the market and select a home loan that is right for you. If you decide to use a broker, make sure you do the following.
Do your research
Choosing a mortgage broker can be a difficult task. The best way to find a mortgage broker is through personal recommendations from family and friends. However, you might find that the broker that was right for them is not right for you. Most brokers offer free initial advice, so make a shortlist and meet with several until you find one you feel you can trust.
Buying a house in the Sunshine Coast is a costly endeavour and getting a good deal on your mortgage is a must. If you are new to the mortgage market, you may find it difficult to understand your options. Many people turn to their bank or building society for guidance. On the other hand, others choose to work with a trusted mortgage broker in the Sunshine Coast, such as Ethica Private Wealth Specialists.
Working with a broker offers many benefits over working with a bank or building society. Here are a few of them explained.
Greater Choice of Mortgages
The main advantage of arranging your mortgage through a broker is the wide range of mortgages you will have access to. A broker will have the knowledge, experience and connections to be able to assess your financial situation and compare it against the different mortgages available.
Whether you are looking for a way to get your finances in order for a house loan or looking to set aside your income for retirement, it’s always best to get started immediately. In between all your responsibilities of your personal and financial life, however, it can often be difficult to step back and look at your finances in a methodical, structured way. Fortunately, hiring the services of financial planners from the Sunshine Coast can help in a wide variety of areas.
The first and most obvious reason for hiring a financial planner is that it will make defining your financial goals much easier. When you first start liaising with a financial planner, they’ll probably ask you what your financial goals are. This may seem like an awfully big question to begin with, but as you discuss your situation and bounce ideas off a professional, a list of clear and measurable goals will quickly start to emerge.