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Fiji Island Financial Monetary Authority
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Questions for an advisor

The advisor must have 3 up to date certificates on hand.

  • Original FFMA licensing certificate<
  • Yearly FFMA refresher course certificate
  • 5 Year FFMA renewal certificate

Q.2 Financial advice offered?

Some advisors are able to offer advice from the entire market and others have an additional level of licensing, which allows for restricted advice, which only pertains to certain individual. You advisor must explain to you in depth what segments of the financial market he deals with and what is right for you.

Q.3 Charges

Understanding exactly how you will be charged is the primary right of any client. The advisor has an obligation to mention any charges and fees that come with his service during the first contact. The advisor can demand payment as either one of fee or take a percentage of the total invested sum; this percentage may be no more than 10%. This fee can either be paid in advance or in a set of payments in accordance with the will of the advisor.

Q.4 Assessment Process

It is important for you to understand how your advisor will go about making his/her assessment so that you can receive proper financial advice.

Q.5 Risk Profile

Make sure that your advisor explains what risk profile you are in and how he/she will use that information to suggest trading instruments or product.

Q.6 Advice Paths

It is important to ask how your advisor plans on advising you. Will you receive emails, phone calls or face to face meetings? Sometimes an advisor will offer you multiple advice paths and it is important.

Q.7 Ongoing Service

You must find out if the initial payment is for a single incident of advice or if it includes a package of ongoing advice. If it does not, find out how much future sessions will cost.

Q.8 Reviewing Instruments

Ask your advisor how often you should review your trading instruments and reassess options.

Q.9 Who will Manage the Funds

Find out who will manage the funds. In the event your advisor is working for a company find out the procedure for if he/she leaves.

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Fiji Island Financial Monetary Authority

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