Industry Funds as a Financial Adviser

Many of my clients ask why we don't recomend Industry funds as advisers, there are or can be a lot of reasons for this;

For one thing they do not pay commisions, adviser service fees or any other trailing income which is obviously a big issue for advisers whose main abjective is to build their trail book

There is also real difficulty in sourcing up to date research and information in industry funds, industry funds do not like advisers and because advisers don't generally use industry funds research houses do not cover them. This is slowly changing though and we are slowly get more information allowing us to compare industry and retail funds more easily.

Obviously different funds suit different people but I for one am looking forward to using industry funds more often in a world without bias and conflicts between my advice and my need to feed family.

Alan Maddick
www.smallbusinessworks.com.au

Is there such a thing as ethical financial advice?

I have started this Blog to explore the ethical issues within the Australian Financial Advice industry and my Practice. I am a public accountant and recently decided to add financial advice to our business as our clients definetly need financial advice.

Now one year on and I have realised I take my fiduciary duty to my clients seriously and cannot have any conflict of interest perceived or real in my business. So begins my journey to build an ethical advice business.