Due to some dodgy practices in the deep dark past, good people have now been hamstrung and gagged from officially “giving advice” unless they are registered with every Govt body under the sun, have fully paid their membership fees and have their ticket recognised from the powers that be. What a cosy little club indeed.
However, as we’ve seen, so called “Proper Authorities” and licensed Financial Advisers and professional providers of structural / legal / accounting / etc etc ‘advice’ often get it woefully wrong. They’ve got qualifications and affiliations coming out their wazoo, but so what ?? When they do get it wrong, good luck trying to glean some satisfaction. The associations have been set up to protect their fully paid up members – not honestly listen to your complaint. Their charter won’t say that – but that’s what you’re up against if you do want to take them on. Not for this black duck.
Fantastic sitting back and trotting out the old chestnut “And if at all unsure, please consult a professional (insert whatever).” And if that doesn’t work ?? Seek a second opinion…and on it goes…
What’s wrong with asking ‘advice’…oops…there’s that dreaded word no-one is qualified to actually use. Are the people receiving it that gullible they can’t sort the wheat from the chaff ?? If that is the case, how are they possibly able to detect dodgy advice from slick professionals who have practiced their lines over and over to squeeze the poor hapless soul asking the advice ??
I’ve met and chatted with lots of grumpy old men over the past few years who’d run rings around all of these slick professional advice givers, both in knowledge and also having the runs on the board. They aren’t qualified to say boo, but their advice is worth gold to me. Big Warren’s not qualified to give advice either, but literally millions of people hang of his every utterance, some who are pretty sharp cookies themselves.
I was under the impression this was supposed to be an open forum where ideas / thoughts / opinions were not only allowed but fully encouraged to be tossed around. Let’s not go down the path of stifling thoughts and ideas with these typical nonsense lawyer type distinctions. Surely we are more mature than having to resort to that.
If everyone wishes to stick to this official ‘advice’ poppycock, everyone may as well hang up their keyboards and Steve shut the site down. Am I the only one who thinks this ‘advice’ carry on has gone too far, as with most other things lawyers have had a hand in ??
Cheers,
Dazzling
“No point having a cake if you can’t eat it.”
Originally posted by Dazzling:Am I the only one who thinks this ‘advice’ carry on has gone too far, as with most other things lawyers have had a hand in ??
No you’re not. It sucks!
I agree DAZZ, surely the people reading this board can sort out the wheat from the chaff in their own minds. Advice is just that ADVICE, it is not compulsory to take the advice.
All should be free to give out advice here, so long as they are not obviously advertising.Giddo
http://www.standrewsplace.com.auKNOWLEDGE IS POWER
I agree too.
But my PI provider doesn’t [glum]
Cheers,
Simon Macks
Residential and Commercial Finance Broker[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
hi dazzling
I disagree i’m not one for giving advice.
only joking your right.
You must put that this is not advice or any financial undertaking to cover your ar-e.
I think that the only way around it currently is.
I did this or I know of someone that did that.
Bit of a waste of time to me but marcel and john tell me I have to type or say it and at the end of the day their the guys who have to stand in front of the guy with the wig.
so it goes on.here to help
I thought I’d add some value to this topic by posting below the definition of “advice” as quoted from “http://dictionary.reference.com/search?q=advice”
1. Opinion about what could or should be done about a situation or problem; counsel.
2. Information communicated; news. Often used in the plural: advices from an ambassador.One of the main reasons that I personally enjoy participating in these forums is about the many & varied opinions and information that is communicated. Bless the cotton socks of those litigious types that have made giving advice such a minefield that it is today.
So long as there are suckers in our community, there will be people that take advantage of this, spoiling it for the many good people who dispense with good financial advice.
Eric
Dazzling
Agree with you. Financial advisers are qualified to develop financial plans and so on. But my beef with them is: What do they REALLY know about the art of investment? In my opinion, not a lot because they are like lemmings and just fall into line with all the rest, instead of doing something different.
Having said that, you must have controls in the system. Otherwise you end up with a lawless rabble where scammers run rampant. That’s the problem. But to me the best advice is what you can get from older, wiser people who have seen all market cycles and have “runs” on the board.
Many financial advisers seem to think all you have to do is invest at anytime, diversify, put your feet up and let time do its work. Crap. That seems to be the limit of their investment knowledge. If it was that easy we would all be rolling in money. Nope, it takes a little more brainpower than that.
It is funny (strange) how most bits of financial info are always qualified with: you should always seek advice from your financial adviser before making a decision. What adviser? I don’t have one. I pull the strings! Why can’t they say: if you haven’t a clue about what you’re doing, THEN you MAY want to seek advice from a financial adviser (if you want to take your chances picking the right one)?
Wes.
My experience of Financial Advisers/ Planners–On the occassions when I have consulted them, without fail they turn the conversation round to quizzing ME upon how I made me munney, where is a good place to buy property etc. One time I just wanted to roll over a small Super amount on behalf of one of my children– same result– and all the officer could offer was some Bank account– I dunno must be me sympathetic face — even my Dr starts weepin on me shoulder re her stress levels LOL
Excellent topic Dazz.
Advice is just that, Advice. But checking on that advice is also important. I always get more than one opinion on important matters.
If the Financial planners are so good then why are they still working? I think I am in the best position to make my money work for me, and if it goes belly up, so what, it’s my money and my fault.
Make your own choices and have no one to blame but yourself.
CATA
Asset Protection Specialist
[email protected]It’s kind of sad that advice is an issue that needs to be regulated and consciously questioned as to it’s accuracy and relevance.
I consider it to be a basic life skill that needs to be learned early.
But, there is still a large proportion of people that believe everything they read, accept opinion as fact and fail to properly research “advice given” when the consequences can dramatically affect their life.
Usually the wringer of life will set these people straight in a big hurry. It’s when one’s life savings and their families future are gambled on “advice” and no further investigation that train wrecks ensue, and often years are flushed down the toilet.
Ai shaid ai aistened en ey aid ot to aick my eeth in ADVICE.
(I should have listened when they said not to stick my teeth in that vice)
>>>>>>>>>>>>>>> ha, I couldn’t resist!)[
]
Live, Learn and GrowLifexperience
Great thread Dazz,
I’m sure everyone is in general agreement on this. Especially on a forum such as this, there should be no need for every post to contain “this is general info, seek prof adv, etc, etc”
The problem is that people look for the easy way and love to point and blame others. On the other hand, occasionally there is merit in some complaints.
For better or for worse, that is the way it is.
Don’t hate the player, hate the game!
Munjy
Not disagreeing, but perhaps a different way of looking at it. First, what anyone does is THEIR rsponsibility (duress aside).
However, in giving advice on a forum like this, where you only know part of the story but tailor a suggestion to what you do know, ay not be in the best interest of the person you are trying to help.
The solution is twofold, and I see folks like Dazzling practice it most days. Part 1 is to talk about general principals and techniques (teaching the newbies to fish, not handing out fish). Part 2 is to record your own experiences (as with Dazzling’s post about the land deal he did) and let others examnine, question, criticise and eventually learn.
At the same time, anyone who tried to sue on the basis of advice received here should be pilloried.
I want someone to drag my cartoon head and anagram name into court.
I will happily pay any successful law suit with warner brothers money that explodes spontaneously and turns into flowers.
Thats all folks.
Live, Learn and GrowLifexperience
Hi Dazzling
I could not agree with you more.
The big joke is that if you look at most of the marketing companies that are making huge commissions from off the plan property most of them already have financial planning licences. Another example is that an accountant can set up a self managed superfund but they cannot suggest that you should set one up. More control does not mean a better outcome
Nigel Kibel
http://www.propertyknowhow.com.au
Australian and New Zealand Buyers advocate
service and seminarsNigel Kibel | Property Know How
http://propertyknowhow.com.au
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