Financial advisers - in Melbourne

From: John B


Every time I speak to a financial adviser (and I have spoken to mnay) they want to sell me managed funds. I'm sure they make commissions out of these. The 3 IP's that I have bought is not enough diversification for them.

Two questions.

1. What do you all think of managed funds

2. Anyone know a good financial adviser who understands property in Melbourne

JohnB
 
Last edited by a moderator:
W

WebBoard

Guest
Reply: 1
From: Steve G


Hi John!

Managed funds can have their place in a balanced wealth building strategy. However, it strikes me that they are to shares as unit trusts are to property.

Ultimately, if you take your destiny in your own hands, you have the potential to do as well as, or considerably better than the funds - once you're past the "learning curve".

And yes, many advisers do get commissions for selling these funds. However, if you ask them, I understand that they are required by law to disclose their commissions.

Steve
 
Last edited by a moderator:
W

WebBoard

Guest
Reply: 2
From: Charles Homme


If you are in Melbourne, a good financial planner that I can recommend who fully understands property is Paul Murphy. He can be contacted on (03) 9899 6077. Hope this helps.

Charles
 
Last edited by a moderator:
W

WebBoard

Guest
Reply: 2.1
From: Dave :)


John,

Do you want a financial planner who understands the accounting/tax complexities of property investment, or one that will recommend you good IP's to add to your portfolio? If the latter is the case, these people will also receive some sort of commissions/kickbacks from developers as well.

If you live in the West of Melbourne, I can pass on the name of an experienced financial planner who understands property. (email me)

You need to be firm and absolute when talking to these guys. My last visit to a financial planner resulted in me illustrating on a white board why my IP strategy would be better for me in the long term that his suggestion of investing in a managed fund.

...I helped him buy his first IP 4 weeks later.

Dave
 
Last edited by a moderator:
Reply: 2.1.1
From: Ian Findlay


Good one Dave,

I've been to see about 10 financial planners over the last year just to see
if they could tell me anything new. Nine suggested managed funds (they got
commission plus trailing commission surprise surprise), the other said that
we should sell everything we have and buy a property in Paddington QLD for
$700,000. He said that although we wouldn't be able to sleep at night for
the worry, it would be a good investment! We got out of the office double
quick

Who needs investments if you are so stressed out you can't sleep for
worrying about them!

John,

Do you want a financial planner who understands the accounting/tax
complexities of property investment, or one that will recommend you good
IP's to add to your portfolio? If the latter is the case, these people will
also receive some sort of commissions/kickbacks from developers as well.

If you live in the West of Melbourne, I can pass on the name of an
experienced financial planner who understands property. (email me)

You need to be firm and absolute when talking to these guys. My last visit
to a financial planner resulted in me illustrating on a white board why my
IP strategy would be better for me in the long term that his suggestion of
investing in a managed fund.

....I helped him buy his first IP 4 weeks later.

Dave



To reply: mailto:propertyforum.3635@bne003w.webcentral.com.au
To start a new topic: mailto:propertyforum@bne003w.webcentral.com.au
To login: http://bne003w.webcentral.com.au:80/~wb013
 
Last edited by a moderator:
W

WebBoard

Guest
Reply: 3
From: Tom Siviou


hi guys, no one does anything for nothing. esp financial planners. even if they charge you they got a commission and a trailer comming. and let me tell you accountants are worse. forget solicitors, all they can count is items on their bill. . Buyers advocates and consultants, another laugh. all these fringe profesionals are wanna be dealers. use the real estate agent to do all the running around for you. ask him for stats and cap values growth. there's official figures available, he cant lie to you. document what he says, then if he has lied, sue him. they all got professional insurance. they are free to the buyer. remember, if they havent got you on their side, they cant sell. they need you too. eventhought the vendor pays them, they are more like a broker in effect. in reality, they deal both ways, and the really good ones know the value of the buyer. and no, im not a real estate agent, im an industrial chemist. enjoy.
 
Last edited by a moderator:
Top