INFORMATION FOR FINANCIAL NEUTRALS

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INTERESTED IN BECOMING A FINANCIAL NEUTRAL?

It is a great feeling to know that you have helped people to create a better outcome than they likely would have were you not involved.  Such is the privileged position of the financial neutral.


Working as a neutral is satisfying and enjoyable, but certainly not easy and very different to the work of a financial planner, it takes care, sensitivity, compassion, patience and a detailed financial knowledge.


The discussions in which you will assist are often emotional and you will need to be sensitive to the requirements of each person as they will often have different levels of knowledge and be at different places emotionally.

Clients and their professional advisers will value the input of a financial neutral, if you are not already working as a neutral and are confident you have the required skills you should make contact with your local family law community to discuss the services that you can offer.

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THE SIMILARITIES OF A GP AND A FINANCIAL NEUTRAL

When carrying out a FIAMs the Financial Neutral takes on a role similar to that of a GP carrying out a health check.

The GP does not necessarily have expertise in all areas, they need to know when the input of a specialist is required. 


This is the same for the Financial Neutral when carrying out a FIAMs. They need to understand family law and know how this works along with a broad understanding of finances and the options available to the separating parties.  In some areas they will also have the required expertise but in other areas they may need to engage with another expert.

This list is not exclusive but external experts may be mortgage advisers, Pension on Divorce Experts (PODE’s), accountants and tax advisors.  

 

The benefits of having a financial neutral carry out a FIAM

Mena Ruparel (family solicitor and arbitrator) and Mark Penston (Financial Neutral and Financial Planner) discuss the benefits of including a Financial Neutral, how the FIAM works, when to introduce the neutral and how to find a neutral.

 
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FINANCIAL NEUTRAL - SELF-CERTIFICATION REQUIREMENTS

In order for the mediators, lawyers and clients to have confidence in a financial neutral they must possess a certain level of knowledge.   Without a specific qualification for this the option we believe is most appropriate is self certification.  The link below provides a basis for the adviser to self certify their knowledge.