Role of the Financial Advisor

Financial advisors have been trained in the collaborative family law approach and function as an objective third party consultant to help resolve financial concerns arising from a separation.

The financial advisor may, depending on the issues and their qualifications:

• Gather information pertaining to family finances.
• Listen respectfully to the financial goals of the spouses and assist them to identify their goals and interests.
• Advise one spouse as a consultant within the CFL process, or provide neutral advice to both parties.
• Assist with immediate financial concerns as well as long-range financial planning.
• Assist with the preparation of budgets and money management where appropriate.
• Provide pension valuations.
• Provide tax advice.
• Provide recommendations on the allocation of financial resources.
• Participate in collaborative team meetings to ensure financial concerns are clearly understood and considered.

Qualifications:

1. Professional license or designation in good standing in one of the following:
   • Certified Financial Planner (CFP)
   • Chartered Accountant (CA)
   • Certified Management Accountant (CMA)
   • Certified General Accountant (CGA)
   • Chartered Business Valuator
   • Registered Financial Planner
2. Background, education and experience in some or all of the following:
   • Financial aspects of divorce
   • Cash management and spending plans
   • Retirement and pension plans
   • Tax
   • Investments
   • Insurance
   • Property division
   • Individual and family financial planning concepts
3. Membership in good standing in the Collaborative Family Separation Professionals group in Victoria.
4. Meets qualifications as members of the International Academy of Collaborative Professionals (IACP).