Planners pushing ‘pre-packaged’ solutions

Planners pushing ‘pre-packaged’ solutions

Some advice firms are pushing ‘flavour of the month’ investments and strategies to clients instead of providing them with all of the options, says Roskow adviser Matthew Ross.

Reflecting on a recent meeting with a client discussing self-managed superannuation, Ross said he and his associate adviser came to the conclusion that many advisers are pushing options like self-managed super funds (SMSFs) without having a broad discussion with clients on the range of possibilities. 

“We do believe that there are advice firms out there that have what we call “pre-packaged” solutions,” he said in a blog post on the Humble Investors website.

“When financial planning started 30 years ago, their Whole of Life policies were all the rage, then it became managed funds, then platforms, but of late it seems self-managed super funds are all the rage.

“Ultimately, we believe that the value of financial advice is to provide you (the consumer) with confidence, clear direction and for you to feel that ‘it all makes sense’.

“The only way we as advisers can achieve this is to explain all the options to our clients; the pros and cons and help them choose the ones that make most sense to them,” he continued.

“That’s the value of independent financial advice – having an objective third party who has no ties to a product provider or particular solution providing truly impartial advice that puts the clients’ interest first.”

Planners pushing ‘pre-packaged’ solutions
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