Financial Planning – A note on independence and bias
When seeking financial advice it is important to feel confident that your best interests are being met, and not those of the adviser or advice group that they represent. While legislation requires advisers to act in the best interests of clients, it is worthwhile gaining a broader understanding of just what that does or does not mean in the practical world of day-to-day planning.
The financial blog Michael’s Musings, operated by financial adviser Michael O’Hara can be found at www.michaelsmusings.com.au. In it there are a number of posts and articles providing a financial planner perspective of bias as it applies in financial planning in Australia.
We would encourage you to read through some of these posts and raise any questions, concerns or thoughts with your financial adviser.
Our business and our advisers operate under the AFSL licence of Australian Financial Directions – a West Australian privately-owned business. This means that Australian Financial Directions influence which products and strategies our advisers may use when assisting you towards your financial planning goals.
Your adviser will seek to utilise the best research, products and strategies available through Australian Financial Directions “Approved Product List”. However, should your specific circumstances require products or strategies outside of those immediately available that listing, your adviser will seek to liaise with AFD on your behalf for access to the appropriate product or service. If this cannot be achieved, your adviser will provide a referral for you to access the services you need to meet your financial objectives.
Our business is based on long term relationships and obtaining the best outcomes for our clients, and on acting in their best interests as far as our knowledge, experience and training allow.