Advice industry must not rest on laurels: DiamantidisBY JAMIE WILLIAMSON | FRIDAY, 26 MAY 2017 12:11PMThe financial advice industry has resigned itself to underperforming and allowed the public to relegate financial matters.
Related News |
Editor's Choice
Adviser numbers plateau
The number of financial advisers in Australia appears to be stabilising at 15,602, as Count and AMP Financial Planning continue to hold the lion's share.
Praemium loses $700m due to adviser transitions
Praemium reported total net outfows from its Powerwrap scheme has reached $700 million over the past three quarters.
Small cap investors told to 'stop whinging'
Forager's chief investment officer has read the riot act to investors.
Adam Blumenthal ordered to pay $850k
Blumenthal is also banned from managing corporations for five years.
Further Reading
Sponsored by | Where do advisers invest their time?The stage 3 tax cuts have sparked discussions on bracket creep. Implementing a tax-effective investment strategy is crucial now more than ever. |
Sponsored by | Quality and Yield. A Powerful combination.With central bank rates seemingly peaked, investors are not awaiting yield increases. We're bucking the trend with investment rates at decadal highs |
Sponsored by | Why it could be a good time to be a growth contrarianGrowth-style companies are in vogue, but you may need to think outside the box to ensure you don't overpay. |
Products
Featured Profile
Fiona Mann
HEAD OF LISTED EQUITIES AND ESG
BRIGHTER SUPER
BRIGHTER SUPER
Brighter Super head of listed equities and ESG Fiona Mann was shaped by a childhood steeped in military-like discipline and global nomadism. Andrew McKean writes.
Agree with much of that, Pieta. As a 35 year veteran of the advice industry I've spent 25 of those years teaching clients how to "fish" so they can become independent of me and handle their own decisions, but with my ADVICE rather than me DOING it all for them. They appreciate that, but it requires courage on both sides - me to not fear losing them and them to take responsibility. It is ultimately the only ethical approach to what we do. You wouldn't want your (adult) children to be dependent upon you for the answers, so why would you want that of a client - other than self-interest? It requires that you don't get paid for transactions but rather for teaching. That's a challenge not many in our industry are up for yet and certainly not one that their masters (Dealer Groups - there's a clue in the name) would encourage!