Adviser Ratings names first ‘platinum adviser’

>Roskow Independent Advisory principal Neil Salkow has received the ‘platinum’ rating, off the back of a 100 per cent rating awarded by the website’s inbuilt methodology.

In a post on the Adviser Ratings website, Mr Salkow said he attributes his success on the ratings site to his firm’s Corporations Act-compliant independent status.

“As a truly independent adviser, my clients know I'm on the same side of the table as them when I give advice,” Mr Salkow said.

“There are no hidden agendas; there are still too many salesmen masquerading as advisers.

“There's a growing number of advisers wanting to do the right thing by their clients and wanting to know how to be independent. I can only see this as a good thing for clients.”

More broadly, Mr Salkow described being an adviser as the “greatest job in the world” in that he gets to “help his clients make smart choices with their money”.

Speaking to ifa, Adviser Ratings founder Angus Woods said that independence has not been specifically factored into the in-built ratings system, at least “initially”.

“Our analysis suggests that independence and product separation did not play a role in the inherent bad advice that was dispensed pre-GFC,” Mr Woods said.

“We are also grappling with the term independence - depending on how you define independence (aligned v non-aligned, product manufacturing, life insurance commissions, licensee affiliation, etc).

“However, in saying that, we do realise the importance of this distinction for both the industry and consumers, and we will be addressing this issue in coming months.”