Help with picking a new financial advisor

Hi Wilko

I would suggest that you stay with property but then I’m biased

If you do go down the track of using a licenced Financial Advisor I’d suggest that you steer away from those that offer their services free. This is because they then take all the sales commissions and you can never be sure if their recommendations were unbiased, i.e. did they make those recommendations just because a particualar company pays them a larger commission.

You will find advisors who charge for their time and rebate all commissions. They may look expensive but I’d feel more comfortable this this type of Advisor’s advice.

Good luck.

Cheers, Paul

the term ‘investments’ is simply huge – maybe you can define it a tad, you know, somewhere between Number Plates and French Clocks

cheers

brahms
Purveyor of Fine Finances
aka Mortgage Broker Brisbane

Well that counts shares and property out – neither fit in the alphabetical range permitted.

As others have said most FA/FP have an aversion to property.

Assuming you have a preference to stay in property then a basic plan would be use the equity available to create LOCs and then use these funds to secure additional property that suits your preferred ‘retirement’ strategy and that is within your budget constraints.

Structure all investment loans as interest only while you have non-deductible debt and then investigate options as non-deductible debt is paid out.

Another option would be to go and see someone at http://www.navrainvest.com.au or http://www.navra.com.au they do have a Brisbane office.

Derek
[email protected]
0409 882 958
Property investment advice and researched property in quality locations available.

Want a geat advisor? http://www.pdb.com.au and ask for Brenton, smart boy. I am a FP, but he does my para-planning. Knows his stuff.

We are all made from Stars.

Michael It is so good to hear my thoughts regarding fin advisors coming from someone else. I am qualified, but refuse to link my services to an institution which claims independence, sells only their products and never advises to buy direct property. A managed fund with 5% property is as close as they go. Please……save us from those smiling insurance salesmen with a new name.

I, like you,do not offer any services here as a financial advisor, but I list my Dip Fin Services(FP), so as to be clear to others I am somewhat knowledgable in the field. My services as a buyers agent is to supply information that each client can make their own decisions on.

Telling the facts and not the percieved facts is somewhat dangerous, but I’d rather loose some clients than mislead them as to where I am coming from.

DD

PS146 Certified Financial Planner and Buyers Agent
Don’t sweat the small stuff,and it’s all small stuff!!

Hi Wilko,

I actually wonder whether or not FPs/FAs are of value to people who possess a financial awareness within themselves.

My personal experiences were less than satisfactory and I would fit into the decidely unhappy category – the last FA/FP I spoke to tried to dissuade me from property while at the same time encouraging me to put my hard earned into extra super and/or a managed fund he had specifically selected for me (yeh right). Needless to say we are by far and away much further ahead now through property than the path he was trying to steer us down.

By way of personal example I have a plan that focusses on property as the core of my investments.

I manage my cash carefully and know what latitude we have to invest with. I also keep a track on asset values and define a 12 month plan for the family (they are involved too) which is consistent with our long term goal/s.

A careful budget and 6 monthly reviews keep us on track while still giving capacity to kick our heels up from time to time.

Running parallel with our residential property are some expansions into a commercial development, a share fund and some drect shares. Nevertheless property is still the core of our investment strategy.

Given we don’t know what your investment preferences are it is a little hard to comment on whether or not a FP/FA can do what it is you want.

For example if you are focussed on property as your investment vehicle I am sure that you could find someone that could assist in this regard (it is something we do all the time).

However if you wanted to branch out into shares etc then the counsel of a broker or suitably qualified person would be to your advantage.

Bear in mind that, as far as I know, run of the mill accountants are not necessarily qualified to give finacial advice as such. It is an outcome of government legislation. Sure they can help you manage you tax affairs, assets and cashflow but I am not so sure about giving FA.

Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958

Wilko,

Warren Buffet has many great sayings, but the one I love best is how he describes the average man (like you and I with our approach to investing in a :balanced portfolio of shares:) compared to the people like himself. He says:

Ordinary people dabble in shares by driving to Wall Street in their motor cars, and blindly hand their hard earned cash over to a stranger on the floor, who then takes the SUBWAY home!!

In my experience, unless people are prepared to GAURANTEE results ( which no F/A s will ), you cant and shouldnt rely upon them for your financial security. None of the supposed experts,
and there were plenty around, advised the ordinary person the 87 crash was imminent.

Anyhow, just my thoughts.
Brady5