To Be a Knowledgable Financial Planner
To determine whether your hired financial planner is knowledgeable in his area of RG146 expertise, he must be able to meet the following tasks:
• Evaluate the business setting,
• Verify the business mission and objectives,
• Recognize the kind of resources required to attain these goals,
• Calculate the amount of resource to be used (labor, equipment, materials),
• Work out the entire cost of each type of resource,
• Summarize the costs to create a budget, and
• Discover any possibility of risks and issues with the budget being set.
A financial planner without the necessary training and knowledge cannot deliver the said tasks. Therefore, you have to ensure that your hired financial planner have had recent training on dealing with financial services. You can determine this by requiring the RG146 in the form of a Diploma of Financial Services or Diploma of Financial Planning. The PS or Policy Statement 146 is a requirement of the ASIC (Australian Securities and Investments Commission) for those who are financial planners.
In general, these courses are being offered by several registered training providers. The course usually last for only 8 days. After the course is completed successfully, assessments are made to ensure that the financial planner is able to gain knowledge from the 8-day training.
