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25 Jun 2014 (TheAge, SMH) – Six questions for your financial planner

(25 June 2014, The Age, MONEY, p6, John Addis)

‘Most investors need reliable financial advice. The problem is in finding it.’

‘There are about 18,000 financial planners in Australia. The vast majority – perhaps up to 85 per cent – are associated with a major bank or AMP, which means they either work for these organisations or are remunerated by them in some way.’

‘The vertical integration of the industry, where the manufacture of financial products seamlessly slips into the selling of them under the guise of advice, all but ensures you’ll be sold well rather than advised sensibly. So the big banks and AMP aren’t always the best places to fish for advice.’

Read more about the 6 questions for plannes at SMH.com.au

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