Tag Archives: Investor
Statement of No Advice
We have been amazed at the number of people who are being asked to sign a “Statement of No Advice” by their financial Advisors. Why would the advisors ask you to do that? They don’t have to take responsibility for their advice. If they don’t want to take responsibility why would you trust them? They [...]
Financial Planners are hurting.
The collapse of Timbercorp’ Great Southern has hurt Financial Planners. Asset – The Financial Planning Professional Magazine editor stated that Professional Investment Services Ltd (PIS) did not throw an end of financial year party as they have missed out on more than $15 million in advance commissions from the sale of the agribusiness managed investment schemes.
Holiday Home into Superfund – Financial Planning Litigation
Another instance of bad financial planning advice that we have come across recently, where the advisor gave advice without any regard to capital gains tax, stamp duties, income tax and superannuation fund regulations.
Lessons from Timbercorp Collapse
What we can learn from this:
Beware of tax-driven schemes – they are usually unviable investments.
If a return sounds too good to be true, then it probably is.
Do your homework.
If you don’t understand it, you shouldn’t be in it