The importance of Independent financial advice

We are proudly independent financial planners based in Perth, Western Australia. Independence is very important. 

Independent, impartial and unbiased are protected terms under the Corporations Act. Very few financial planning firms can use these terms and anyone who does can have no ties with superannuation funds, the banks or other large financial institutions. This separation from product providers and financial advice is a core step of being fully independent. There must only be loyalty to clients, and not to other financial institutions. 

If your financial planner is not independent then how do you know whether the advice is free of conflicts. Historically conflicted advice has occurred when financial advisers do not have their clients best interests at the center of their decision making.

Independent financial advisers are fee for service; they don't charge commissions and they don't receive kickbacks from product providers. The only way independent financial planners receive money is from their clients, and this means their client is their sole focus. Just the way it should be. 

Often independent financial advisors are happy to provide one-off financial advice. This is because they are focused on the clients best interests, and if a client just wants one off financial advice, then that is fine.

We believe that you should only seek financial advice from an independent financial advisor. 

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Created on Sep 16th 2021 03:59. Viewed 222 times.

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