Independently Owned Does Make A Difference
Seeking sound financial advice does make a difference to your life. A critical factor can be the source of your advice.
"Financial Planner" is a generic term used by many with varying degrees of success. The AlOFP believes that seeking advice from an independently owned Australian Financial Services Licence (AFSL) holder gives you the best opportunity to maxintise your long term financial position and attain your goals.
Benefits of seeking advice from AIOFP members:
- An Australian Financial Services Licence (AFSL) holder must meet strict regulatory conditions imposed directly by the Australian Investment and Securities Commission (AISC).
- An independently owned financial planning company does not have any potentially conflicting ownership by a bank, credit union or fund manager. Servant/master relationships can potentially 'colour' advice.
- The principals of the Australian Financial Services Licence (AFSL) must ensure that all advisers are appropriately qualified and experienced as conditions of their licensing.
- AIOFP members are not permitted to operate trust accounts. All client investment cheques are made payable directly to product providers.
- AIOFP members can work either on a fee for service, flat fee or brokerage basis depending on what suits your position.
Eligibility Criteria to be a Member of AIOFP
A company is eligible to be a member of the Association if the company:
- Is independently owned with no conflicting ownership from any fund manager, life insurance company, bank, credit union or other financial institution.
- Holds their own Australian Financial Services Licence (AFSL) issued by the ASIC.
- Members are encouraged to be a member of another professional association.
Independently Owned Makes a Difference to Your Advice
To understand the dynamics of the investment advice industry it is important to differentiate between product providers (i.e. fund manager, banks, industry super fund, life office)
The product providers offer their products either directly to the public, through their own sales force or establish/invest into their own financial planning business.
The other option is through an independently owned financial planner.
The AIOFP believes that the best advice will come from groups that are independent of ownership by the product providers. An AIOFP member will select the best products that suit your position, not someone else's!
There are no additional charges when seeking advice from an AIOFP member than if you go directly to a product provider.
Independently Owned Makes a Difference to Your Security
An AIOFP member will increase your feeling of short, medium and long term financial security:
- An AIOFP member will provide the spread of fund manager's ASX direct products and investment markets that suits your needs.
- An AIOFP member will thoroughly assess your risk profile and then make appropriate recommendations to give you peace of mind.
- AIOFP members do not operate trust accounts, all investment cheques are made payable directly to the fund managers.
- AlOFP members must operate from a comprehensively researched recommended list and carry appropriate levels of professional indemnity insurance to give you peace of mind.