This episode marks my first ever podcast interview. Dan O’Day joins us to have a chat about his relationship with money and how taking control of his finances and setting personal goals has been a real game-changer.
I remember having a good discussion with Dan a few years ago in which he told me about how he was going to buy his first home. This is a goal that many of us share but can sometimes feel unachievable. What I loved about the conversation was hearing how Dan was taking action and making steps towards that goal. We chatted about the importance of having a professional financial advisor in your corner to help you along the way.
I’ve put together a few tips on how to find the right financial advisor for you. The world of financial advice can be hard to navigate and I understand that many people don’t even know where to start. So let’s change that right now!
Ask around to see if you can find a good referral. As with any service, it’s always easier to talk to someone you trust by getting get a first-hand recommendation. If no one in your immediate friend circle springs to mind, think of anyone you know who may use a financial advisor and reach out to them for some direction.
Now you’ve shortlisted a couple of advisors, go and meet them to see if the two of you will get along. Hiring a financial advisor usually means that you’ll be working with them for years to come, so it’s important to have someone you can trust and with whom you can communicate effectively.
Find out how they expect to be compensated. Sometimes you’ll have to pay for one upfront, while others will receive commissions from products that they’ll try and get you to purchase. I always go with someone that I pay directly and who I feel has my best interests at heart. Sometimes you can set them up in your super fund so that you’re not out of pocket straight away.
Be honest with both your advisor and with yourself. Tell them your goals (even if they seem impossible) and be candid about how much you really earn and spend. They’ll be able to help you on the way to achieve these aims and it will be incredibly beneficial to have an exact number of what you need to make as a target to aim for.
I hope that these tips will help you find the right financial advisor; now check out the podcast episode and hear more about how Dan O’Day has approached his journey towards financial success.