Do you need a finance broker or a financial planner?

Do you need a finance broker or a financial planner?

Do you need a finance broker or a financial planner?

When taking the plunge into the world of home loans and property investment, the challenge often lies in knowing which expert to approach for help. Finance brokers and financial planners, although similar in their professional outlook, cater to very different economic endeavours.

Finance Brokers also called ‘Mortgage Brokers’ are qualified and must be either licensed or appointed to act as loan advisers. They have in-depth knowledge of loans and options suitable for a range of different financial situations, from first-time buyers all the way through to experienced property investors. They negotiate with lenders to arrange loans and help manage the process through to settlement.

“When it comes to assisting client’s with advice on interest rates, avoiding cross collateralization or the best way to set up a loan, it’s really something that needs to be done by a mortgage broker who is qualified to give credit advice,” says Albert Waldron, lending specialist at Awesome Lending Solutions

Financial planners, meanwhile, assist with anticipating and managing long-standing economic outlooks and wealth creation. They help sort through and select options for investment and insurance, with attention paid to retirement planning, estate planning and investment analysis.

“Planners take more of a long-term holistic approach to wealth-creation strategies, as well as super and life insurance, and other sorts of wealth protection insurances,” Waldron says.

A financial planner’s work is wide-reaching and vital to your long-term financial health and stability, options relating to loans and refinancing can only be recommended by a qualified broker authorised to do so.

There are some situations where it would be best to include both types of financial professional.


For instance, if your broker is helping you refinance your loans to undertake a financial investment, a financial planner can step in to assess the best investment option for you.

“There is rarely a time when I am dealing with a client and arranging loans, where I’m not considering how the loans will fit with any advice the client might be receiving from a financial planner or accountant.

With this increase in the number of customers asking for loans for Self Managed Super Funds this has never been truer,” Waldron explains.

“In terms of whether the client’s choice is a viable investment strategy or whether it fits in with their long-term wealth creation goals, that is something where we would absolutely refer them back to a financial planner to ensure that the lending fits in with their broader plan.”

So finance broker or a financial planner? It depends on your situation – for loans, see a broker, for investment advice, a financial planner. Of course, here at Awesome Lending Solutions, we can always refer you to a planner if you need one.

Why not contact us to find out how we can help you secure property or commercial finance and ask us to recommend one of the financial planners we trust.


 Contact Awesome Lending Today




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