Australians with an active relationship with a financial planner are not only financially better off than unadvised Australians – they also have a better quality of life, according to new research from the Financial Planning Association of Australia (October 4, 2022).
Jay and Delta discuss the unintended consequences of Royal Commission into Misconduct in the Banking, Superannuation and Financial Services industry which has left approx. 100,000 financial advice clients without advice or orphaned by their adviser, according to analysis released by Adviser Ratings (April 26, 2022).
In the last 2 years the big four banks NAB, ANZ, CBA and Westpac have shut down their financial planning arms and orphaned many clients with MLC Master Key/Wrap, OnePath, Colonial First State and BT platforms thus leaving individuals to seek out new advice or be acquired by a new adviser.
Making the decision to seek or reengage advice can be daunting.
Delta and Jay outline the steps; from sourcing a trusted adviser, explaining what to expect from your initial call, demystifying your first meeting and financial health check, to receiving formal advice and ongoing service.
Articles Discussed:
https://financialnewswire.com.au/financial-planning/advice-orphan-clients-sad-indictment/
https://financialnewswire.com.au/financial-planning/10000-advice-clients-orphaned-limbo/
If you are seeking personal financial advice specific to your circumstances you can contact the team at Burke Britton Financial Partners on 0352217700, admin@bbfp.com.au, visit our website at www.bbfp.com.au or book a 15min call to see how we can help you via https://app.acuityscheduling.com/schedule.php?owner=18922676
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PB Financial Solutions Pty Ltd trading as Burke Britton Financial Partners ABN 67 097 381 523. PB Financial Solutions Pty Ltd trading as Burke Britton Financial Partners are Authorised Representatives of AMP Financial Planning Pty Limited, ABN 89 051 208 327, AFS Licence No: 232706.
Any advice contained in this podcast is of general nature only and does not constitute personal financial product advice. In preparing this podcast, no account was taken as to the objectives, financial situation or needs of any particular person. Therefore, before making any decision, listeners should consider the appropriateness of the advice with regard to their particular objectives, financial situation and needs.
