Comments on: This is just wrong!!! http://www.thefinancialcoach.co.za/2009/08/18/this-is-just-wrong/ Managing people & their emotions around money Fri, 27 Aug 2010 07:55:39 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Gregg http://www.thefinancialcoach.co.za/2009/08/18/this-is-just-wrong/comment-page-1/#comment-281 Gregg Wed, 18 Aug 2010 16:04:16 +0000 http://www.thefinancialcoach.co.za/?p=225#comment-281 Hi Mark My issue is not with advisors but largely with the remuneration structure of the industry and how it insentivises people to sell products under the guise of financial planning...inspite of all the regulation, nothing has been done to change this. Financial Planning is not (just) about products... I think we are probably on the same side in this one! Gregg Hi Mark
My issue is not with advisors but largely with the remuneration structure of the industry and how it insentivises people to sell products under the guise of financial planning…inspite of all the regulation, nothing has been done to change this. Financial Planning is not (just) about products…
I think we are probably on the same side in this one!
Gregg

]]> By: Mark http://www.thefinancialcoach.co.za/2009/08/18/this-is-just-wrong/comment-page-1/#comment-277 Mark Tue, 17 Aug 2010 08:19:23 +0000 http://www.thefinancialcoach.co.za/?p=225#comment-277 Hi, As a Financial Advisor myself, I find the above article very upsetting and worrying. The Financial Advisor in this instance should be taken to the Ombud if no resolution can be found. The client has every right to complain about this issue. I am however, very concerned with your last paragraph. Not all Financial Advisors, and companies are the same, and many do actually look after their clients interests, and are not interested in the amount of commission earned. I have on several occasions advised clients NOT to change their current existing policies, be they Risk or Investment. My role is to ensure the client is receiving the best advice possible, and if that advice means that I do not ultimately end up doing any business, the client can be rest assured they were visited by a professional advisor who was not interested in how much money they make in commission, but the welfare of the client. Hi,

As a Financial Advisor myself, I find the above article very upsetting and worrying. The Financial Advisor in this instance should be taken to the Ombud if no resolution can be found.

The client has every right to complain about this issue.

I am however, very concerned with your last paragraph. Not all Financial Advisors, and companies are the same, and many do actually look after their clients interests, and are not interested in the amount of commission earned. I have on several occasions advised clients NOT to change their current existing policies, be they Risk or Investment.

My role is to ensure the client is receiving the best advice possible, and if that advice means that I do not ultimately end up doing any business, the client can be rest assured they were visited by a professional advisor who was not interested in how much money they make in commission, but the welfare of the client.

]]>