We've been travelling a lot lately and so this morning decided to flick through the last three weekend editions of the Australian Financial Review that we'd missed enjoying.
First priority; was to enter the competition to win a Mont Blanc watch; then cut out an article pointing to data indicating that young Americans are less interested in the environment, less energy conscious and less civil minded than their parents; another article on the mounting number of elections upcoming in the Eurozone; and finally the double page spread on self managed superannuation noting 33% of SMSF trustees were not using a financial advisers as the trustee thought they could do a better job of it themselves.....a point that was attempted to be underscored by the article about an Anglican vicar in Minister Shortens electorate who'd lost $600k in super after following advice.
But none of this (apart from the competition entry) got the blood flowing and more so the frustration building than the "theme" of each weekend.
March 3-4th.....risk appetite up and small caps the way to go
March 10-11th....economy is drowing and the worst week for 2012....time to go with ETF's as your strategy...eurozone looks to have settled
March 17-18th.....super funds overloaded with shares...so corporate bonds the way to go...oh that pesky eurozone with Greece jobless rates at record highs...but don't forget to get your Smart Invester magazine for the feature on the top 601....yes that..six hundred and one....suburbs for property.....
Now, we've always been contrarian investors....but schizophrenic...we are not.
The article reporting on and attacking advisers and fees (once again) contrasted with the change of tact in each weekly edition provides us with somewhat of a conundrum.
How is the average investor meant to succeed in developing, implementing, reviewing and adjusting a total financial planning solution including the foundations of asset protection (not a topic of any of the three editions mind you) when:
1) advice is lambasted as a waste of money or unreliable
2) "expert" opinion is poorly developed, researched and further a commentary on what's past rather than what awaits
3) stories of the need for advice and the positive lifechanging consequences of an advice relationship are not presented
Thank goodness for the watch competition and cartoons of Julia Gillard as Morticia to keep us amused.
The stories that need to be told that need to be written are those stories of:
1) advisers battling industry funds (pro bono mind you!) to provide decent and timely insurance payments to terminally ill members
2) advisers doing pro bono work for groups like the cancer council
3) advisers making a difference in the lives of clients by being advocates and friends during the claims process
4) advisers becoming the trusted family adviser as they work with multi-generations - supporting and facilitating entry into aged care facilities, handling the succession of family farms and businesses, providing the funds for childrens educations, assisting clients to pay down debts, to build for the futurem to start a family to......live their dreams.
Where are those stories?
Those stories are held in the hearts and minds of the too few of the public who get financial advice. Swayed from seeking advice by a focus on the few bad apples reported over and over and over again long after the damage is done. These stories are held in the businesses who deliver value everyday to their clients and do it quietly without fanfare and without the need to publicly seek kudos.
But these stories need to be told. Now is the time to tell your story. Tell it to your clients, get yor clients to tell it. Tell it to your AFSL licensee and let them publicise it. Tell it to your product providers. Tell it to your MP.
Advisers facilitate the dreams of their clients WHEN they understand what it is that is important to the client - what drives them and what it means to the client to live well and look after their family.
Advisers who do this and who truly understand what it means to provide solutions that have relevance and meaning shoudl be lauded.
We hope that in upcoming editions of the weekend AFR, we get to read those stories.
No comments:
Post a Comment