Financial advice

If you’re making significant financial decisions, or are serious about retirement planning, at some stage you’re likely to seek financial advice.

The key is to use an independent financial adviser who is not rewarded with commissions for selling you financial products. Any adviser you use for superannuation advice or retirement planning should charge a fee, rather than accept commissions.

Set out below are all SuperGuide articles explaining Financial advice.

Financial advice: Only 32 (10 + 13 + 9) independent financial advisers in Australia   Super Guide

This article is updated regularly when new financial advisers join the independence club. A financial adviser does not have to be a member of the IFAAA to join the SuperGuide list, provided they can declare that they satisfy the requirements of being an independent adviser.

SMSF: How much does a DIY super fund cost? (updated figures)   Super Guide

Q: My wife and I are considering setting up a self-managed super fund. I asked two advisers for a quote on the set-up costs for a self-managed super fund with a starting balance of $600,000.

Financial System Inquiry: Interim report expected by July 2014   Super Guide

In May 2014, the Financial System Inquiry Chair, David Murray, announced that he expects to submit an interim report to federal government by July 2014. Again, there will be another round of industry submissions before the Financial System Inquiry (FSI) delivers its final report to the government by November 2014.

Cormann presses pause on FoFA changes after public pushback   Super Guide

The government has temporarily put on hold its highly controversial dilution of consumer protections in the financial advice laws while it consults with stakeholders.

Dear financial advisers: choose to be magnificent, not mediocre   Super Guide

I believe an independent, qualified financial adviser, focused on the best interests of the client can be a valuable partner for any individual’s or family’s wealth creation plans, along with excellent tax advice from an accountant.

Liberal Party’s superannuation to do list (updated)   Super Guide

The Liberal Party and National Party Coalition are now in government and the superannuation agenda has shifted slightly, although the LNP has not yet confirmed all of its pre-election superannuation policies.

SMSF basics: Trish’s 10 commandments of DIY super   Super Guide

If you’re running a self-managed super fund, then you’re obviously aware that being a SMSF trustee/member is a very different experience to belonging to a large super fund. In a large super fund, someone else looks after your superannuation benefits.

Free retirement planning assistance now available   Super Guide

The Financial Information Service is available to anyone, and the Government funds the service under the Centrelink budget. Note that you don’t have to be in receipt of Centrelink payments or services to use FIS.

Life expectancy: Will you outlive your retirement savings?   Super Guide

The newly-elected Liberal government has flagged that it will be actively encouraging innovative retirement products to ensure Australians have options to “better manage the financial risks they face in retirement, such as market risk, inflation risk and the risk that they may outlive their retirement savings”.

Fund choice: Comparing super funds in 8 steps   Super Guide

We receive many questions from readers about particular superannuation funds and whether we think fund A or fund B is a good super fund.