Since 2016 I have a financial advisor collecting a monthly fee from my 900K of super. Should he be contacting me to discuss my super (and also that I am now 61) given he is getting hundreds of dollars each month for doing nothing. I am not drawing on my super yet but have just stopped working. The last time I had any contact was in October 2019 when I asked him about a letter that I got from Perpetual. He gave a one sentence answer.
Ruth in Dulwich Hill
Top answer provided by:
Thank you for your query and reaching out to the advice community.
A good financial advisor would review your full situation if there has been a significant change in your circumstances. You need to start by asking the advisor what the fee you are paying covers you for as per any agreement you may have signed. How often are you meant to catch up for a review? Does the advisor know you have now retired? If not, give them an opportunity and let know of your change in situation and don’t be scared to ask them what the fees you pay them are for. Ensure the advisor is qualified and has experience in providing retirement planning advice.
If you feel you are not getting the service or advice that you deserve, then do not hesitate to see what other advisers have to offer and make an informed decision. Getting the right retirement planning advice is one of the most important decisions of your life.
While the Adviser Ratings Website facilitates the question and answer functionality, all such communications are between users and authorised financial advisers, of which Adviser Ratings has no affiliation. Adviser Ratings is not the advice provider and does not provide financial product advice and only provides information that is general in nature.