In a recent chat on 4BC Radio, Jovan Cvetkoski, Director and Financial Adviser at Knight, shared some practical guidance that’s becoming more and more relevant. Many Australians worry about the quality of financial advice they receive, but it’s not something people often speak openly about. Jovan focused on how to recognise the signs when a financial adviser may not be acting in your best interest.
Jovan has spent years helping individuals, families and business owners feel more in control of their financial future. That experience has given him a good eye for spotting red flags early. During his radio appearance with Peter Feigin, he talked through the common signs that suggest something’s not quite right.
Watch out for pressure to act fast
If an adviser is rushing you to make a decision, particularly when it comes to insurance or investments, that’s a big red flag. Good financial advice takes time. A good adviser will never push you to make a quick call. The right adviser will move at your pace. They’ll take the time to explain your options so you feel confident and informed.
You should always understand what you’re paying for
When it comes to fees, there shouldn’t be any grey areas. Whether it’s a flat fee, a percentage, or part of an ongoing arrangement, your adviser should be upfront about costs. If you’re not getting a straight answer, it might be time to look elsewhere.
You can check their credentials in minutes
A lot of people don’t realise that there’s a free government tool that lets you look up any financial adviser in Australia. It’s called the ASIC Financial Adviser Register, and it’s run through MoneySmart.
You can search by name or licence number and see where the adviser has worked, what they’re qualified to do, and if there have been any complaints or disciplinary issues. It is an easy and practical step to take before putting your trust in someone.
Be wary of big promises that sound too good
If someone’s promising high returns with hardly any risk, it’s worth asking more questions. In reality, risk and return always go together. There’s no such thing as a guaranteed 10% return with no downside.
Good advisers avoid sugar-coating. Instead, they’ll give you honest and realistic advice that is tailored to your situation.
Ask questions and expect clear answers
It’s perfectly okay to ask how an adviser gets paid, how often you’ll hear from them, what services are included, and even whether you can speak to a long-term client. You deserve to know how the relationship will work.
If those questions are met with vague answers or defensiveness, it’s a sign to be cautious. A great adviser will welcome your curiosity and take the time to walk you through things.
Financial advice should feel like a partnership
At Knight, the focus is not only on providing expert financial guidance. It is also about building long-term relationships based on trust. Jovan and the team believe clients should always feel informed, supported and in control of their decisions.
If something doesn’t feel right, trust your gut. If you ever want a second opinion from someone who values transparency and is focused on your long-term goals, Knight is here to help.
To learn more about how we work or to speak with Jovan Cvetkoski, get in touch today.
