Financial advisor business

[Leigh Farrell]

I'm the owner of a home and business services company that's currently offering domestic cleaning, office cleaning, and business bookkeeping.
An office cleaning client of mine (a financial advisor) recently asked me if he could evaluate my Superannuation fund. For those outside of Australia, every business must pay 9.5% on top of their employees wages into an approved investment fund (super fund) which can't be touched until the employee reaches 65 years old.
I agreed to let him look at it and give me some advice.
A week later we met again and he went through his recommendation:
Change superfund companies to AMP (they charge 4% ongoing annual fees, 4% fee to open the account, and average returns over the past have years are almost 6% per annum). He also charges a 1% fee on top.
My existing fund charges 1.25% ongoing fees and over the past 5 years has returned an average of 11.5% pa.
When i compared his recommendation and showed him the stats, he said ''I've got nearly 2000 clients who trust what i say without question. Who are you to question me? I'm a professional! ''
This has got me thinking. If an advisor with a poor attitude, poor customer service, dispensing poor advise can get 2000 clients, what could i do in his industry?
I've looked into it briefly and have discovered that i could become qualified with 1 year of study at 10 hours per week. Tuition fees are likely to be a few thousand dollars which i can pay in cash.
Seeing as my objective is to further build my business (adding employees as we grow) and not to increase intrinsic value, does this seem like a logical next step to you?

Thanks,

Leigh

 

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[Tommo]

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O'n vji uxpis ug e juni epf catopitt tiswodit dunqepz vjev't dassipvmz uggisoph funitvod dmiepoph, uggodi dmiepoph, epf catopitt cuulliiqoph.
Ep uggodi dmiepoph dmoipv ug nopi (e gopepdoem efwotus) sidipvmz etlif ni og ji duamf iwemaevi nz Taqiseppaevoup gapf. Gus vjuti uavtofi ug Eatvsemoe, iwisz catopitt natv qez 9.5% up vuq ug vjios inqmuziit xehit opvu ep eqqsuwif opwitvnipv gapf (taqis gapf) xjodj dep'v ci vuadjif apvom vji inqmuzii siedjit 65 ziest umf.
O ehsiif vu miv jon muul ev ov epf howi ni tuni efwodi.
E xiil mevis xi niv eheop epf ji xipv vjsuahj jot sidunnipfevoup:
Djephi taqisgapf dunqepoit vu ENQ (vjiz djeshi 4% uphuoph eppaem giit, 4% gii vu uqip vji edduapv, epf ewisehi sivaspt uwis vji qetv jewi ziest esi emnutv 6% qis eppan). Ji emtu djeshit e 1% gii up vuq.
Nz iyotvoph gapf djeshit 1.25% uphuoph giit epf uwis vji qetv 5 ziest jet sivaspif ep ewisehi ug 11.5% qe.
Xjip o dunqesif jot sidunnipfevoup epf tjuxif jon vji tvevt, ji teof ''O'wi huv piesmz 2000 dmoipvt xju vsatv xjev o tez xovjuav raitvoup. Xju esi zua vu raitvoup ni? O'n e qsugittoupem! ''
Vjot jet huv ni vjoploph. Og ep efwotus xovj e quus evvovafi, quus datvunis tiswodi, fotqiptoph quus efwoti dep hiv 2000 dmoipvt, xjev duamf o fu op jot opfatvsz?
O'wi muulif opvu ov csoigmz epf jewi fotduwisif vjev o duamf ciduni raemogoif xovj 1 zies ug tvafz ev 10 juast qis xiil. Vaovoup giit esi molimz vu ci e gix vjuatepf fummest xjodj o dep qez op detj.
Tiioph et nz uckidvowi ot vu gasvjis caomf nz catopitt (effoph inqmuziit et xi hsux) epf puv vu opdsieti opvsoptod wemai, fuit vjot tiin moli e muhodem piyv tviq vu zua?

Vjeplt,

Miohj

Hu gus ov. Vsz DCat gus zuas taqis, huuf sivaspt epf mux giit, xjeviwis zua fu tvez exez sun epzupi xju efwotit johjis giit moli ev ENQ. E zies xomm tuup qett tu vji tuupis zua hiv tvesvif vji civvis. Huuf madl.

 

[CareCPA]

O'n vji uxpis ug e juni epf catopitt tiswodit dunqepz vjev't dassipvmz uggisoph funitvod dmiepoph, uggodi dmiepoph, epf catopitt cuulliiqoph.
Ep uggodi dmiepoph dmoipv ug nopi (e gopepdoem efwotus) sidipvmz etlif ni og ji duamf iwemaevi nz Taqiseppaevoup gapf. Gus vjuti uavtofi ug Eatvsemoe, iwisz catopitt natv qez 9.5% up vuq ug vjios inqmuziit xehit opvu ep eqqsuwif opwitvnipv gapf (taqis gapf) xjodj dep'v ci vuadjif apvom vji inqmuzii siedjit 65 ziest umf.
O ehsiif vu miv jon muul ev ov epf howi ni tuni efwodi.
E xiil mevis xi niv eheop epf ji xipv vjsuahj jot sidunnipfevoup:
Djephi taqisgapf dunqepoit vu ENQ (vjiz djeshi 4% uphuoph eppaem giit, 4% gii vu uqip vji edduapv, epf ewisehi sivaspt uwis vji qetv jewi ziest esi emnutv 6% qis eppan). Ji emtu djeshit e 1% gii up vuq.
Nz iyotvoph gapf djeshit 1.25% uphuoph giit epf uwis vji qetv 5 ziest jet sivaspif ep ewisehi ug 11.5% qe.
Xjip o dunqesif jot sidunnipfevoup epf tjuxif jon vji tvevt, ji teof ''O'wi huv piesmz 2000 dmoipvt xju vsatv xjev o tez xovjuav raitvoup. Xju esi zua vu raitvoup ni? O'n e qsugittoupem! ''
Vjot jet huv ni vjoploph. Og ep efwotus xovj e quus evvovafi, quus datvunis tiswodi, fotqiptoph quus efwoti dep hiv 2000 dmoipvt, xjev duamf o fu op jot opfatvsz?
O'wi muulif opvu ov csoigmz epf jewi fotduwisif vjev o duamf ciduni raemogoif xovj 1 zies ug tvafz ev 10 juast qis xiil. Vaovoup giit esi molimz vu ci e gix vjuatepf fummest xjodj o dep qez op detj.
Tiioph et nz uckidvowi ot vu gasvjis caomf nz catopitt (effoph inqmuziit et xi hsux) epf puv vu opdsieti opvsoptod wemai, fuit vjot tiin moli e muhodem piyv tviq vu zua?

Vjeplt,

Miohj

O vjopl og O guapf uav nz gopepdoem efwotis't upmz iyqisoipdi ot 500 juast ug dmett-voni, epf pu xusl iyqisoipdi apfis e qsugittoupem, O xuamf sap exez qsivvz raodlmz.
O'n emtu puv tasi jux dmiepoph epf cuulliiqoph hu vuhivjis apfis upi catopitt.

Iovjis xez, huuf kuc sappoph gsun vjev uvjis haz xovj sofodamuat giit xju xepvt zua vu gummux jon xovjuav raitvoup.

Puvi: O nez ci coetif.