Sydney financial advisor – recommendation?

[Richard Feynman]

Anyone care to recommend a financial advisor in Sydney?

I own no IPs. I'm soon to move out of my PPOR, rent it out and live in a share house with friends (for equal or less weekly cost than I rent my PPOR for) to improve my cashflow–allowing me to save faster for a future NRAS purchase.

I'm seeking clarification on this strategy, to run my numbers accurately so I can be confident of the financial ramifications, cashflow improvement, risks, and to generally discuss strategy further.

If anyone can personally recommend someone in Sydney to suit, I'd be most appreciative.

 

[tobe]

Why dont you go along to the next sydney somersoft meeting/catch up?

Most (not all) financial advisers/planners are either employees of a bank, tied to specific products and financial companies or both and have a fairly limited remit in their advice about property investing. Most I dare say would recomend you take out insurance, then broaden your asset allocation outside of property (shares and managed funds) because you already own one property and owning a second would concentrate your risk.

you could also post some of your end financial goals here and get some insight into what other members think.

 

[Rolf Latham]

Nick Moustacas and his team can do that and wont sell you across into Managed funds in the process : ) unless you really need that

www.strategicwealth.com.au

ta
rolf

 

[DaveM]

I use David Kerr from TAG Financial

http://www.tagfin.com.au/index.php/contact-us/

 

[Jacque]

We've had good dealings with BFG at Pennant Hills. www.bfg.net.au
They're an independent FP company- see below their explanation of what this actually means. Suzanne Haddan and the team (Kevin, Sue and Broderick) are very switched on and we've also assisted some of their clients with our services as well. All very professional and good feedback from our mutual clients, including relatives. Best of luck.

There are not many financial planners like us who can use the term ‘independent’. This is because they can only claim that they provide independent advice if they meet the criteria of sec 923A of the Corporations Act. Broadly the requirements are that the financial planner and the Licensee cannot receive any of the following:
(i) commissions (apart from commissions that are rebated in full to the person's clients);
(ii) forms of remuneration calculated on the basis of the volume of business placed by the person with an issuer of a financial product;

(iii) other gifts or benefits from an issuer of a financial product which may reasonably be expected to influence the person

Importantly they must also operate free from direct or indirect restrictions relating to the financial products in respect of which they provide financial services and must operate without any conflicts of interest that might arise from their associations or relationships with issuers of financial products. This is difficult for most financial planners as they directly or indirectly represent product providers such as banks.

While the rules are strict they are designed to ensure we represent our clients and are free from conflicts of interest.

 

[Terry_w]

Nick Moustacas and his team can do that and wont sell you across into Managed funds in the process : ) unless you really need that

www.strategicwealth.com.au

ta
rolf

Nick would be good because he is both a FP and an accountant.

 

[Richard Feynman]

Much appreciated folks. Still open to suggestions but I'll be planning to see someone within the next 2 weeks.

I probably should have thought to mention a financial advisor/accountant might be a good option as I'll be needing both services..

(Along with a PM and REA, but they're for another thread)