Two days before Christmas the Australian Securities and Investments Commission (ASIC) released an interesting report into the financial advice industry titled "Access to financial advice in Australia". There are many interesting insights in the report - the one I will highlight today is the cost of delivering financial advice. In conducting the research ASIC "surveyed … Continue reading What price for financial advice?
"About 19 per cent of investors say their preferred model for paying an adviser is performance-based fee,” according to Mark Johnston, principal of research firm Investment Trends. (Reported here today). Performance based fees will not work for most types of financial advice. Performance based fees for finance advice may only be appropriate when: The advice … Continue reading Why performance based fees for advice won’t work
If you are wary of your financial adviser being biased by commissions then you will want to work with an adviser who charges fees and rebates commissions to you. But according to new research released today such an adviser may be hard to find, with only approximately 1 in 10 Australian financial advisers focused on … Continue reading Fee based advice hard to find