Our View on the Royal Commission

Our industry has come under fire over the last few weeks as a result of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry… AND SO IT SHOULD!

This is an enquiry the Financial Services industry has been crying out for, for quite some time now. The bad reputation that some financial advisers have caused amongst the general population is being uncovered and this is an opportunity for those doing the right things by their clients to highlight the differences in approach to providing advice.

From the mouths of some of the countries biggest financial institutions you’re hearing stories of lies to the governing body and fraudulent activity to get their desired result. We’re hearing that clients were paying fees for no service and worse yet, that fees were being charged to those who had passed away.

The main purpose of this article is for us to announce that we don’t agree with the poor actions of those brought to light.  WE ARE PROUD TO BE A PRIVATELY OWNED AND LICENSED FIRM. Being a smaller, boutique wealth advisory firm, we aren’t under pressure by higher powers to produce profits for shareholders. Everything we do, is for the client and there is no conflict as we don’t own any products we recommend.

So that you know, below are the some of the main difference between a company like ours and one that falls under a bigger corporate umbrella:

  • We act in the best interest of the client, not any shareholders.
  • We choose investments from the broader market to suit a specific clients scenario, not something that falls under a related banner to keep investment fees in-house.
  • We compare insurance products of different providers to get the best price and the best cover for each individual. A broker.
  • We send out annual updates to let our clients know how we’ve serviced them and what fees we’ve received and pro actively communicate and assist clients in various forms on a regular basis.
  • We have a firm of 3 advisers, meaning we’re very selective about who they are and the clients they represent.

We’re confident in what we do and constantly ensure our clients are happy with our service. We welcome the enquiry into the financial services industry and are eager to see what else comes from it.