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.

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

Pixmac000013667575_aus_money

Note: Article updated in June 2015, and enhanced with an extra table outlining fees for small and large SMSF account balances. This Q&A includes the latest SMSF cost data released in December 2014 by the ATO, and selected cost data released by ASIC in September 2013. The next SMSF cost update is … [Read more...]

Financial advice: Only 60 independent financial advisers in Australia

Advice_7180285_c

Note: This article is updated regularly when new financial advisers join the independence club (latest update June 2015). 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 … [Read more...]

Seeking advice? Financial Advisers Register is a starting point

Adviser_3365978_c

On 31 March 2015, the Australian Securities & Investments Commission (ASIC) launched the first phase of the much-talked about Financial Advisers Register. The Register (FAS), contains information about 19,000 advisers. ASIC has also kindly updated its consumer information about how to choose a … [Read more...]

Life expectancy: Will you outlive your retirement savings?

Pixmac000036337911_tortoise

The Liberal government has previously 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 … [Read more...]

Investment performance: Benchmarking super fund returns

Pixmac000084548238-stocks

Q: What you do is very important, thank you. I am 62 years, retired and draw an allocated pension. What I need is to get sound independent advice about whether I am in the best fund for my needs and how my super fund compares. I am considering changing super funds, but I need to know whether the … [Read more...]

Financial System Inquiry: Super and retirement summary

Report_1098490_c

On 7 December 2014, the federal government released the Financial System Inquiry (FSI) Final Report, a 320-page document providing recommendations on five main themes. The FSI committee and secretariat received 6,800 submissions and held hundreds of stakeholder meetings. The FSI crew also met with … [Read more...]

Clients come first: Financial advice reform saga continues

Pixmac000068878981_maze_14

In recent months I have kept fairly quiet about the financial advice reforms. Until recently, what more was there to say about a set of rules designed to favour the outdated business models of many financial planning businesses? Note that I am not targeting the advice provided by the firms with … [Read more...]

Guest contributor: How to spot an independent financial adviser

independent_10386905_c

Just because a financial planner’s business card doesn’t display the logo of a bank or insurance company doesn’t mean he or she is independent. Last month Roy Morgan Research surveyed 40,000 people on the perceived independence of their financial planner. It turns out that a disturbing number are … [Read more...]