Financial Planning businesses typically come with an heir of scepticism from consumers. A lack of trust, if you will. It’s possible that some folks feel that financial planners do not do much for their clients and that their advice is laden with self interest. It’s also possible that some consumers feel they would be no better off after obtaining advice. And, it is true that there have been, and possibly still are, financial planners who have taken advantage of their own clients.
Darren Titmus set up Financial Planning Qld with business practices that would eliminate all of the above fears for any consumer. To achieve this, Darren implemented the following:
- Fee for service advice only – this means that there are no commission arrangements designed to influence advice or product selection for clients
- Use of Superannuation Funds that pay NIL commission only
- No Fee Guarantee
- Better Position Statement – this is a plain English explanation provided in writing of WHY and HOW the recommended strategy and products used benefit you, the client, over and above your current arrangements