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Financial Happenings Blog
Tuesday, July 24 2007

My learned colleague was invited to present at the Australian Investor's Association Annual Conference last Sunday.  Scott presented a 4 hour presentation on investing for novices with approximately 80 participants in attendance.


During the course of the presentation, Scott sought feedback from participants as to how confident they felt engaging with the Financial Services Industry with the results showing:

  • 1% were extremely confident
  • 25%confident
  • 13% neither confident nor cautious
  • 40% cautious
  • 21% extremely cautious


These statistics alone provide an interesting insight into the industry but some more insightful points were provided through the written feedback as to why participants were cautious.  The themes were fairly consistent:

  • They had received poor advice from financial planners in the past
  • They were concerned with education / training of financial planners
  • They were concerned with financial planning businesses being owned by large institutions
  • They had concerns with trailing commissions on products offered by advisers
  • They were concerned with the high level of fees charged by some advisers


Of the small percentage in the confident end of the spectrum, their responses also contained similar trends:

  • They had confidence in the advice given to them
  • They sought out advisers they could trust
  • They had undertaken self-education
  • They questioned the advice they were given


Scott and I think that the responses gave us, and those who seek our advice, some important reminders:

  • It is important to seek financial advice that is independent, not influenced from ownership by large institutions, or by commissions for "selling" certain products
  • Finding a financial adviser that you trust is important
  • The financial advice process should involve sound education for planners but also for the clients that seek their advice
  • Trusting your financial adviser is crucial
  • Fees matter


We are confident that we provide a service where all of these aspects can be found and met.  If you are seeking a financial adviser you can be sure is looking out for your best interests please get in contact!!




Scott Keefer

Posted by: Scott Keefer AT 10:53 am   |  Permalink   |  Email
Monday, July 16 2007

An interesting article published in today's Sydney Morning Herald has claimed that the super industry is lagging in key areas.  It quotes a study conducted by one of the big 4 accounting firms, Deloitte, and highlights that 40% of corporate funds that were surveyed did not provide any form of post-retirement products and over half said they did not have transition to retirement pensions.


This means that if you had assets invested in one of those corporate funds, once you reach the lead up to retirement and want to access a transition to retirement strategy you would be forced into changing to another service provider.  This may entail the creation of a capital gains event and lead to a reduction in the final benefits you could expect to receive.  Not to mention the hassle of changing providers and having to get used to a new way of doing things.  It may also mean that the investments you have become comfortable with are not available in the same form as in your superannuation fund.


We believe this is a significant issue for investors and are very pleased that the superannuation product we recommend allows a simple and seamless transition from superannuation mode to pension mode.


If you would like more information please get in contact via our contact page or fill in the Request for Feedback form to the right.



Scott Keefer

Posted by: Scott Keefer AT 03:11 am   |  Permalink   |  Email
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