The financial services industry is getting a fair shake up at the moment. It’s not just because of the Royal Commission either. The Federal Government has been looking to raise ethical standards for quite some time now, with new regulations coming in to effect in January 2019.
For us at wetalkmoney, we are largely immune to these changes as our business model of client first, non-conflict advice is the space that regulators would seem to want every adviser to be. So it’s pretty much business as usual for us.
I have a sincere hope for my industry though.
It’s not asking for much. People just want advice they can trust.
This basic standard of care in my profession, financial planning, can be variable.
I honestly didn’t think I’d be surprised by anything that was revealed by the Royal Commission in to financial services. Well, I should have known better!
If you’ve hit 40 and still don’t have your financial affairs in order, it’s never too late to do something about it. We Talk Money’s Tony Sandercock offers advice for getting on track.
This blog was originally posted in "Slice of Life".
If predictions for what 2017 holds could be summarised in a single phrase, it might be a focus on consumers. Experts hand-picked by Professional Planner to provide their views on what’s in store for the year ahead agree it will be a year when the industry makes great strides towards becoming a profession, and that unavoidably means placing the consumer first, second and third on the list of priorities.
(This article was originally posted at Professional Planner Magazine).
Across Australia, over 200,000 baby boomers turn 65 each year. The age of retirement. Next year, another 200,000. But only a few will retire with financial certainty. Consider this: 40 years ago, there were over 7 Australians of working age for every one over 65. Today, there about 4.5. In 40 years time, there will 2.7. That's not enough.
Imagine if you could see the future - your future. Imagine fast forwarding 20 years from now, what financial advice would you give yourself today.
Your words of wisdom might sound like this: