http://www.asx.com.au/resources/podcast/library/investor_hour190906.mp3 Ok, I'm sure some (financial planners) won't agree, but I think this podcast is a must listen for anyone thinking of giving money to a financial planner. Some of the main points from the podcast: - Financial planners aren't advisors as such, they are distributors of financial products. Just ask them their opinion of a particular stock or sector or country, etc and see what they say. It will probably start with "sorry, but... - You can be certified as a financial planner in 8 days! There is a more than likely chance that you are more qualified than your "advisor". Sure there must be very good ones, but chances are you won't get one of them. - Alan Kohler recommends fee for service planners but many still take huge commissions. Freeman Fox (Peter Spann's co) is fee for service... and commissions-based AND they may take a percentage of your total investment. Capital erosion at its best! - Numerous studies, tests and surveys conducted in Australia by groups like AFR, have concluded that you are more likely than not to receive bad advice. That may be subjective, but advice to change to a higher fee super fund with worse past performance is pretty black and white to me. Anyway have a listen... After listening to this in addition to recently testing an apparently very reputable planner out, there is absolutely no way I'd waste my money with them again. I realise people who don’t want to think about this stuff need advice somehow, but anyone willing to put in a tiny amount of effort is better off themselves I believe (especially with forms and online resources).