Finding the right financial advisor can be one of the most important decisions you make when planning your future. Whether you’re looking to grow your wealth, prepare for retirement or manage complex investments, the person guiding your finances must be more than just qualified — they need to understand your goals, act with integrity and communicate clearly every step of the way.
In a market filled with professionals offering financial advice, knowing what separates the good from the great can help you make a confident and informed choice. Here are three essential qualities to look for when choosing a financial advisor.
Professional Competence and Experience
A great financial advisor must have strong technical knowledge and proven experience to back up their recommendations. This includes a thorough understanding of investment strategies, superannuation, tax planning, insurance and estate planning. In Australia, they should be registered with the Australian Securities and Investments Commission (ASIC) and hold a valid Australian Financial Services (AFS) licence, or be an authorised representative of someone who does.
It’s also wise to look into their educational background and professional certifications. Many top-tier advisors hold qualifications such as a Certified Financial Planner (CFP®), which indicates a high level of expertise and ongoing commitment to professional development. You should also ask how long they’ve been in the industry and what kinds of clients they typically serve.
Experience matters because every client’s financial situation is unique. A seasoned financial advisor will know how to tailor strategies that align with your personal goals, whether you’re buying your first home, saving for your child’s education or planning a smooth transition into retirement.
Strong Ethical Standards
Trust is the foundation of any successful financial relationship. You need to feel confident that your advisor is acting in your best interest at all times. In Australia, financial advisors are legally required to adhere to the Best Interests Duty, which means they must prioritise your financial wellbeing over commissions or company targets.
Unfortunately, not all advisors meet this standard in practice. That’s why it’s essential to work with someone who demonstrates genuine integrity and transparency. Look for signs such as clear fee disclosures, an open discussion about any potential conflicts of interest and a willingness to explain their advice in plain language.
You can also check the ASIC Financial Adviser Register to see if an advisor has faced any disciplinary actions or complaints. Great advisors are upfront about their processes, don’t pressure you into decisions and are happy to take the time needed to build trust.
A financial advisor with strong ethics will focus on long-term partnerships, not short-term profits. They’ll be your advocate, not a salesperson, helping you make decisions that serve your financial future rather than theirs.
Excellent Communication and Personal Rapport
Financial matters can be complex, and even the most brilliant strategy is worthless if it’s not explained in a way you can understand. One of the defining traits of a great financial advisor is the ability to communicate clearly, listen carefully and tailor advice to your level of knowledge and comfort.
Your advisor should be someone who asks the right questions and listens to your answers. They should take the time to learn about your goals, fears and values — not just your bank balance. From there, they should present your options in a way that’s straightforward and easy to digest, avoiding jargon and helping you feel empowered, not overwhelmed.
Regular updates, check-ins and reviews are also key. A great advisor doesn’t just hand you a plan and walk away. They stay in touch, adjust your strategy as needed and remain available to discuss concerns or changes in your circumstances.
Choosing a financial advisor is about more than qualifications or products — it’s about finding someone who combines knowledge, ethics and communication to help you make smart, confident decisions with your money. Look for an experienced professional who listens to you, acts in your best interest and keeps you informed every step of the way.
A great advisor will not only help you navigate today’s financial challenges but also lay the groundwork for lasting security and peace of mind. Whether you’re just starting your wealth journey or planning the next chapter, partnering with the right financial advisor can make all the difference.
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