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research Garry I am a researcher and always check everything before making a decision. There is an accountant that I us who I would have far more faith in than any financial planner I have met. My whole point is that ASIC have created a myth that if you deal with a financial planner then you...

who pays Hi Gary I think there is a huge difference. If a financial planner is charging you a fee and not taking commission then in theory they should be recommending products based on how good the product is andf not how large the commission was. I wonder if any of the planners who are...

crooks True However it is the perception that financial planners are good becuase they are approved by ASIC.

insurance brokers Ricardo It was not my intention to suggest that insurance brokers were the same. My point is that many financial planners do not have the knowledge base to be offering detailed financial advice. To sell insurance you need to be a financial planner, but it does not mean you...

westpoint and advisors As mentioned the problem with Financial planners is that many people believe that they are recieving independant financial advice. If someone is recieving a large commision then they are probaby not working in your interest. The fact that so many financial planners pushed...

financial planners I think that some of you are missing the point. I am not talking about serious investors like many of the people on this forum. I am talking about the average person who may believe because of the information put out by ASIC that financial planners are the only people who can...

westpoint One of the main points that I am trying to make is that a number of financial planners told there clients that there money was safe. Clearly that was never the case. I am sure there are some very good financial planners around. There are also many who are sales people with little...

westpoint It is not a matter of greed, the problem is that it have been pushed that financial planners are quialified to give you the best advice. The only financial planners I would trust are those who charged you a fee but did not take a commission. A little like a buyers advocates. It is...

On Inside business this morning the chairman of ASIC was interviewed regarding the collapse of Westpoint. It seems that over $300,000,000 of investor funds have been lost in the Mezzanine finance division. The problem for Asic is that the community has been continually told that you can count on...