chubbs75 Posted March 16, 2015 Share Posted March 16, 2015 Hi all I'm wondering if anyone here have any experience using investment brokers or advisors here in Aus? Thank you Link to comment Share on other sites More sharing options...
robfromdublin Posted March 16, 2015 Share Posted March 16, 2015 They are two very different things. I'll give my two cents for financial advisors. Someone else can chime in for investment brokers. Basically you want a fee-for-service advisor who is independent from the banks. Two of the major banks (CBA & NAB) have had well-documented issues with advisors screwing over their clients and from my understanding their cultures haven't changed much since those advisors were sacked. There have also been issues with advisors giving advice based on the commissions they receive. Hence, a fee-for-service advisor who charges you up front for the cost of the actual work, and has no vested interest in where you put your money, is best. It might cost more up front, but you'll know you're getting the best advice. I know of a few in Brisbane and can give you some numbers if you want. Link to comment Share on other sites More sharing options...
FrankFinancial Posted March 20, 2015 Share Posted March 20, 2015 Having worked in 3 different countries as an adviser I would say that the quality of advisers can vary here so you do need to do your research. I would agree with Rob's view of avoiding large institutions as you tend to get a standard solution. I recommend selecting 3 from your local area and visiting each of them with a list of questions at hand (I can provide a list if required), you will find that this will give you a good perspective of what they have to offer, their fees and their service model. All the best Frank Link to comment Share on other sites More sharing options...
Gbye grey sky Posted March 20, 2015 Share Posted March 20, 2015 They are two very different things. I'll give my two cents for financial advisors. Someone else can chime in for investment brokers. Basically you want a fee-for-service advisor who is independent from the banks. Two of the major banks (CBA & NAB) have had well-documented issues with advisors screwing over their clients and from my understanding their cultures haven't changed much since those advisors were sacked. There have also been issues with advisors giving advice based on the commissions they receive. Hence, a fee-for-service advisor who charges you up front for the cost of the actual work, and has no vested interest in where you put your money, is best. It might cost more up front, but you'll know you're getting the best advice. I know of a few in Brisbane and can give you some numbers if you want. Hi Rob I did look up the Australian equivalent of IFAs on the internet a while back and was struck by how few there seemed to be so if you don't mind I would really welcome a PM with these names and numbers. We need to look one or two up when we arrive later this year. I have always managed without advice in the UK but with different pension rules, taxes etc I will be out of my comfort zone there for quite a while so I expect to be paying for advice. Thanks in antcipation. David Link to comment Share on other sites More sharing options...
robfromdublin Posted March 23, 2015 Share Posted March 23, 2015 PM sent David. I'm not sure if any of the firms listed have knowledge/experience of the UK but that can form part of your questioning when you first meet them. Link to comment Share on other sites More sharing options...
harrygoyal Posted March 24, 2015 Share Posted March 24, 2015 Hello, I am working as an mortgage broker in Australia... How can I assist you? Link to comment Share on other sites More sharing options...
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