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Off topic, but this is a serious breach of ethics; I would be seriously concerned about taking any medication, for which the prescriber had been given any commission... Bad example.Do you kick up a fuss then a doctor gets a commission for prescribing drugs to his patients?
Off topic, but this is a serious breach of ethics; I would be seriously concerned about taking any medication, for which the prescriber had been given any commission... Bad example.
I have replied here, so this thread doesn't go off topic.Well then you better do some research in the medical industry. doctors regularly get kickback from drug companies including if they prescribe certain dollar amounts etc..
Why are you so fascinated with financial planners receiving commission on the products they recommend? .
The onus also falls onto you to find a planner who will invest in the style your after.
Exactly.
If you don't like what you hear (bear in mind sometimes FPs won't tell you what you want to hear, as much because of your biases as theirs), then turn on your heels and walk out.
It's that simple.
I have no problem at all with a someone making money on what they sell, I just have a problem with someone who purports to offer unbiased advice on investments but then coincidentally the "best" investment is the one they receive the best commission on!!.
You are both missing Petal's main point.
The most widely known way of getting financial advice very rarely advices on the biggest investment most people will have.
Simple.
You are both missing Petal's main point.
The most widely known way of getting financial advice very rarely advices on the biggest investment most people will have.
Simple.
Very rarely?
Your post essentially says the the vast majority of financial planners would dissuade a potential client from buying a PPOR in favour of managed funds.
I think that is complete crap.
and how do you know that the best advise would be a direct property?
I don't think any planner will say the investments they suggest are going to be the 'best'. No planner can know what outcome the funds will produce. But they will ask detailed questions to their client, and then produce a plan according to their objectives and risk profile.
The client then has the option to accept it, or not.
Anyone knows if you go to a holden dealership, and ask for the best car, they will sell you a holden, likewise if you go to say the CBA for financial advise, they will offer their colonial products and insurance.
No big deal about it.
You just seem to be missing my point and that is the general public think a planner will recommend ANY investing product that best suits them, the client.
In your mind, should an FP know everything about all of these, as well as having their head around IPs?
exactly.. sure there will be SOME planners which specilize in property, but they may not do insurance... so if your after property advise, then get a planner which DOES property.. simple..
each planner will have their own investment style, and this style needs to be what your after, and if its not, go elsewhere..