Many financial advisers are incentivised by commissions, fees as a percentage of assets and /or are linked to or affiliated with the product manufacturer, and in fact usually are only allowed to recommend products the provider has on offer.
We believe this creates a conflict of interest with the client and gives the adviser incentive to provide advice that is in their own best interest rather than the clients best interest.
In the same way that doctors shouldn’t be paid based on the quantity or type of medication or operation prescribed, we strongly believe that financial advice should not be any different. For you to feel confident and know that your best interests are being put first, advice must be truly autonomous.
It is our complete conviction that finances are too important an aspect of a person’s life to allow conflicts of interest to occur in and that the only advice to rely on must be utterly devoid of any conflict. Our practice is built around this philosophy.
We do not receive any commissions, we do not charge fees based on volume of product sold or advised on and we have no affiliation with any product manufacturer that could lead to a conflict of interest or a perceived conflict of interest. The only fees we receive are directly from our clients which means we work only for them. We rebate all commissions on insurance products.
Choosing the right advice firm is an important decision. It’s important not to take a leap of faith on a potentially conflicted adviser: make sure they are structured like a professional, not like a business. A genuine independent financial adviser should operate on a similar basis to your doctor or your lawyer. For genuinely impartial advice, look for these three things in your adviser: