Posts Tagged australians
Top 7 Mistakes Not to Make in Your Will – Financial Spectrum Financial Planners Sydney
Almost half of all Australians don’t have a will. This is a big concern as it could leave many families and loved ones exposed to the stresses of managing a deceased estate without direction and not as effectively as possible. Having a will is always better than not having one, however there are some common mistakes that you should be aware of that could make your will invalid. Here are some tips of mistakes not to make in drawing up your will.
Tip 1: Is your will up to date and current?
Tags: adult witnesses, australians, beneficiaries, birth death, change circumstances, change relationships, current times, deceased estate, executors, family members, financial planners, marriage, married person, memory, spectrum, stresses, Sydney, tax receipts, time tip, willsRelated posts
The Looming Death Of Commissions For Financial Planners In Australia
With the compulsory transition to fee for service pricing in the financial planning profession by 2012, many commission-based financial planners are left wondering how they will make the switch to fee-for-service. Commentators in the industry have focused on the difficulties that planners will face in the logistics of making this transition, but what about the impact on clients?
When our firm decided to offer fee for service financial planning it was because we felt that it provided a greater level of holistic services to our clients, plus enabled us to provide a more technical level of financial planning based on strategy and with less bias on recommending products in order to get paid. Becoming fee for service allowed us to focus more on the needs of our client, and gave us the freedom to give advice in more grassroots areas of financial planning such as budgeting – something which we did under a commissions-based model but we didn’t get paid for this advice.
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Tags: australia, australians, baulk, bias, commentators, commissions, financial adviser, financial planners, financial planning, Freedom, gesb, holistic services, logistics, premiums, profession, proportion, resistance, service advice, service model, transitionRelated posts