The big banks and some elements of the financial planning industry are facing harsh criticism at the moment brought on by the Banking Royal Commission.

But not all Financial Planners are the same.  When looking for a financial planner, you need to seek one that operates under a “fee for service” model.   You should avoid those that rely on commissions, or the sale of investments or other products that are aligned to their institution.

That way you can be sure you are getting the right advice that is in your best interests, and not just to line the pockets of someone else.

At Burnett Business Centre, we’ve long been concerned with the conflicts of interest and poor advice from some of the larger participants in the industry.  In fact, that’s one of the main reasons we started in the financial planning space more than a decade ago, and why we’ve been operating a “fee for service” model for many years now.

Our “fee for service” model and Australian owned Licensee ensure that we are under no obligation to promote particular investments or services of any institution or product provider. This means if we believe there is no future value to be created from a course of action, we tell it straight, even when it’s not what someone wants to hear.

And it isn’t just all about shares, managed funds, and superannuation either.  We can advise on all sorts of investments as part of a wealth creation plan, including maintaining existing investments where appropriate.  Or setting a personal budget.  Or protecting your wealth and assets.

And if we aren’t able to advise you on a particular topic, our Burnett Business Centre Accountants will be able to assist or help you obtain expert advice.

Sometimes there is no getting around commissions, especially with life and risk insurance products.  In this case, we will fully inform you of this and obtain your consent to obtain any inbuilt commissions within those particular products.  You’ll be fully informed every step of the way.

Burnett Business Centre’s Financial Planners are licenced with Sentry Financial Service Pty Ltd, a privately owned Australian Financial Services Licensee. Sentry provides us with a rigorous compliance regime to ensure our advice meets all legislative and regulatory requirements.

So you can see that we welcome the Royal Commission.  It gives us the opportunity to reinforce who we are, how we do things, and that we’re here to help.

If you or your family are concerned about your investments and are seeking transparent and unbiased advice, come and see one of our advisers at Burnett Business Centre Financial Planning.

This information is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.