How to work with business advisers
Forming productive relationships with your advisers can be an important part of business. If you need advice on an ongoing basis, the following tips will help you get the most from your business advisers:
- Always prepare for meetings. Having a clear agenda and desired outcomes for meetings will save you time and money.
- Give your advisers accurate information about your business.
- If you have certain information that cannot be disclosed, let your adviser know.
- Keep advisers updated about any changes to your business.
Reviewing your business advice
If you have an ongoing relationship with a business adviser, it is worth reviewing your arrangements at least once a year. Ask yourself the following questions:
- Am I still getting value for money?
- Is the service informative and personalised to my business?
- Is my adviser available when I need them?
- Does my business adviser still suit my business needs?
If you answer no to these questions, then it may be time to look for an adviser who is better suited to your current business needs.
If you are unhappy with the service your business adviser provides, you can either complain directly to their business or through their professional association. Most businesses will have procedures for handling complaints.
For more information about making complaints and your rights as a consumer, contact the Australian Competition and Consumer Commission (ACCC) or the Office of Fair Trading.
There are a number of reasons for ending your relationship with a business adviser. They may not be providing the services you need, you may need a different type of expertise or you just may not be working well with your adviser.
If you need to stop working with a business adviser, be sure to carefully check any contract you have signed for their services. The terms and agreements will let you know if there is a notice period for terminating contracts or any other conditions you must honour.
- Visit the MoneySmart website for practical tips on choosing, and working with, financial advisers.