From grudge to nudge: a fresh approach to adviceBY MICHELLE BALTAZAR | THURSDAY, 18 FEB 2016 5:11PM Words, not just actions, have the power to transform financial advice. This week I attended a roadshow hosted by the Association of Financial Advisers (AFA). It was pretty full-on ... Upgrade your subscription to access this article
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Advice with soul
SACHA BURCHGART
FOUNDER & MANAGING DIRECTOR
BURCHEART PTY LTD
FOUNDER & MANAGING DIRECTOR
BURCHEART PTY LTD
Though she initially tried, Sacha Burchgart couldn't escape the call of a career in financial advice; it just took staring down her own mortality to see what's possible when you do things differently. Jamie Williamson writes.
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The current risk profiler used by most dealer groups is not just outdated it is nonsensical to a client.
ASIC requirements are "know your client" and "know your product". There is so much knowledge to be gained from properly knowing your clients. Then the portfolio construction process can begin to suit outcomes desired. Asset allocation will follow on from this in the portfolio construction, which should be unbiased. Portfolio construction processes and reviews should be dynamic not static.
Clients should not be pigeonholed by questions and numbers they (in must risk profilers) do not understand.