PERSONAL FINANCIAL ADVICE
The thought of going to a financial adviser
is about as attractive as going to the dentist
for most people. In some ways, the dentist
is probably better: at least you know that
the discomfort is going to be temporary.
Despite all the
recent public scrutiny and legislative reforms,
there hasn't been much discernible improvement
in the financial planning industry that
we can see. Everyone says that standards
need to lift but the three core problems
are largely intact, namely
- the link between
advice and product commissions,
- the expensiveness
of most managed funds, and
- the large number
of people who know more about sales than
investment markets.
None of these things
seem likely to change any time soon. As
long as large institutions openly refer
to their financial planners as a distribution
network, you can expect to be 'distributed
to' rather than advised.
Getting more for less
Nearly every decision regarding a financial
product can be broken into three parts.
There is advice, administration and the
investment itself. Buying all three elements
in a managed product might sound like a
good idea but more often than not, it doesn't
work well in practice. The advice stage
is obviously compromised by the lack of
independence, the administration is typically
not personalised or tax-efficient, and management
fees need to be high because they're subsidising
the other two activities.
At Wren Investment Advisers, we can assist
you with all three steps at a cost which
is likely to be less than you are currently
paying. Not only that, you can choose whichever
combination you prefer: advice and administration
without the investment, advice only, administration
only - it's totally up to you.
Our objective is to focus on minimising
costs at each stage of the process and maximising
the flow of information. We therefore have
a strong preference for direct investments
like shares and property.
Our clients
While everyone
is different, our clients tend to have one
or more of the following characteristics:
- are disillusioned
by previous experiences with financial
advisers,
- have their own super
fund or are thinking or starting one,
- know about shares
and direct property investments,
- are disappointed
by the cost and performance of managed
funds,
- have their own super
fund or are thinking or starting one,
- want someone who
takes time to understand their goals,
- doesn't want to be a number in a large
bureacracy,
- like information - we have many clients
who like to delve into the nitty-gritty
of their financial affairs, and
- provide true on-going service.
If any of this sounds
like you, please call (03) 9663 6602 or
email us for more information.
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