By now we’ve all heard the story of alleged financial fraudster, Mellissa Caddick. Before her disappearance, she allegedly posed as a financial planner to defraud her clients of millions of dollars. Even though she called herself a ‘financial planner’ she was not legally qualified.
Before engaging with a financial planner or financial advisor, it is prudent to do your research. It is your money that is being invested, so it is your responsibility to ensure that this trusted advisor is looking after your interests.
The Financial Advisers Register is published on the MoneySmart website and is managed by ASIC.
The Register is a public record of financial advisers who provide personal advice on complex financial products to consumers. It allows consumers to:
- check that a financial adviser is authorised to provide financial advice
- find information about an adviser before getting financial advice from them.
The Register also improves:
- the ability to assess the qualifications, experience and employment history of financial advisers
- ASIC’s ability to identify and monitor financial advisers in Australia.
Why should you get a Financial Advisor?
Do you have a financial advisor? A recent study showed that 90% of clients accessing appropriate financial advice has left them in a better financial position. Furthermore, 89% say the advice has propelled them into their lifestyle of choice.
90% say their advisor is a critical part of their financial success.
The research also showed that those receiving advice tended to save more money. They were also better at managing debt and had a better performing investment portfolio and adequate insurance cover.
The research also surprisingly showed that only 1 in 4 Australians were receiving financial advice.
Why are some people dismissive of financial advisors?
It’s reported by financial advisors that a large hurdle is that people don’t really understand what they do. Most people would presume that the only handle investments, and if they don’t have investments they don’t bother looking into it.
Financial advisors may be able to benefit you with;
- Cash Flow and Budgeting Assistance
- Debt Management
- Superannuation Advice
- Investment Advice
- Insurance Advice
- Succession Planning
- Retirement Planning
- Estate Planning
- Creating a financial plan to achieve your financial goals
We work with trusted independent financial advisors and financial planners, in conjunction with our own taxation and accounting advice. This is to provide an awesome client experience and great financial outcomes in the short, medium and long term. If you are looking for Trusted Accounting Advice give us a call.