How to Maximise Value from Your Financial Adviser Relationship

Working with a financial adviser is a great start to achieving your financial goals – but knowing how to make the most of this professional partnership is what truly sets successful clients apart. Here’s how to maximise value from your relationship with a financial adviser.

1. Preparation Is Key

Before you meet with your adviser, taking the time to prepare can make a world of difference. A little effort upfront not only saves time but also allows your adviser to deliver more targeted, strategic advice.

Before Your First Meeting:

- Define your financial goals

- Make a list of questions and concerns

- Consider your risk tolerance and investment preferences

- Think about your financial timeline and key life events

Example: Successful Preparation

Kate and Mark prepared for their first adviser meeting by:

- Creating a detailed household budget

- Listing their financial goals in priority order

- Gathering their super, insurance, and investment statements

Our adviser was able to immediately dive into strategy development, saving them two extra meetings and around $800 in fees. The thorough preparation meant they could fast-track their planning and start implementing wealth-building strategies right away.

2. Making Informed Decisions

Your adviser is there to guide you, but it’s essential to play an active role in decision-making. By being curious and involved, you ensure that the strategies align with your goals and understanding.

Key Areas to Focus On:

Clarify recommendations – don’t hesitate to ask questions

• Express any concerns openly

• Set realistic expectations for outcomes

• Regularly review progress and adjustments

• Stay open to learning – financial literacy boosts confidence

Example: Informed Decision-Making

Rachel, a small business owner, made it a practice to ask her adviser to explain concepts using simple analogies. When discussing diversification, her adviser used a "not putting all eggs in one basket" approach, comparing different investment options to various baskets with different levels of protection. This helped Rachel make a confident decision about redistributing her $400,000 investment portfolio.

3. Maximising Every Session

Your time with your adviser is valuable – make sure you get the most out of every meeting.

Tips for Productive Meetings

- Come prepared with updates on your situation

- Share any recent life changes that might impact your financial plan

- Bring any questions or concerns from previous meetings

- Discuss new opportunities or challenges

- Keep track of action items from past sessions

Example:
When Tom started updating his adviser on new business developments during each meeting, they were able to adjust his investment strategy proactively. This not only maximised returns but also protected him from potential tax consequences.

4. Long-term Success Factors

A successful relationship with your adviser goes beyond single meetings – it’s about building a partnership that evolves with your financial journey.

Success Factors

- Trust and transparency

- Regular engagement – don’t just meet when things go wrong

- Proactive communication – share changes as they happen

- Goal alignment – ensure your plans reflect your evolving priorities

- Regular education – understand the “why” behind strategies

Example: Long-term Partnership Success

The Wilsons have worked with their financial adviser for 15 years. Their success factors include:

- Annual strategy reviews

- Open communication about life changes

- Attending educational sessions to stay informed

By staying involved, they successfully navigated market downturns, career shifts, and family expansions – growing their net worth from $200,000 to $2.1 million over that time.

5. Leveraging Technology for Better Results

Today’s financial advice often comes with tech tools to make your life easier and your plans more transparent.

Make the Most of Digital Resources:

• Use the Client Hub for investment tracking, updating your details and reviewing your strategy

• Participate in online workshops and webinars

• Keep digital records up to date

6. Making the Most of Professional Resources

Your adviser likely has access to:

- Research teams

- Technical specialists

- Industry experts

- Legal resources

- Tax professionals

Take advantage of these resources by:

1. Asking about our available services

2. Requesting specialist consultations when needed

3. Attending client education events

4. Reading provided research materials

5. Participating in workshops or webinars

Example: Resource Utilisation

David needed help with estate planning. Through our network, he accessed:

- An estate planning specialist

- A tax expert

- A family law attorney

This coordinated approach saved him $22,000 in potential tax liabilities and created a comprehensive succession plan for his business.

Conclusion

Your financial adviser is more than just a consultant – they’re your strategic partner in building and protecting wealth. By preparing well, staying engaged, and taking advantage of resources, you can ensure that your relationship with your adviser delivers long-term value.

Remember, the best outcomes come from collaboration. The more you put into the relationship, the more you’ll get out of it. Stay proactive, stay informed, and keep building your financial future – together.