Steve

1. The advisor has an accounting qualification, but not a member of any professional body.

2. We live in Qld.

3. We initially went to this guy looking for a financial planner/advisor. We were looking at investing in property but were also looking for help with our total financial plan, ie. setting up salary sacrifice, tax advice, and structuring and property purchases effectively. We didn’t ask about asset protection, this was his advise as the best way to go.

4. As far as I know, he will set up a unit trust for each property and the manage these trusts.

5. From our first meetings a unit trust was suggested mainly for asset protection.

I have the uneasy feeling that the plan of this advisor is to set up these trusts and then have us hooked up with his business, while not actually providing any value to me. I’m sure he will be wanting to do the tax returns on any income for each trust and so develop his own pasive income stream!

I’m not experienced in this and appreciate your ideas and opinions.

Thanks for your help.