ASIC has issued a damning report on Australia’s largest banking and financial services institutions (ANZ, CBA, NAB, Westpac and AMP) and found:
- 75% of the advice files reviewed the advisers did not demonstrate compliance with the duty to act in the best interests of their clients.
- 10% of the advice reviewed was likely to leave the customer in a significantly worse financial position.
- 68% of clients’ funds were invested in in-house products.
Read the full ASIC report
At TAG, we find this report disappointing as financial planning and wealth creation should be an enjoyable and transparent long term experience that makes a positive difference to you and your loved ones.
At TAG:
- We are privately owned, self licensed, not tied into one investment strategy and do not have a vested interest in promoting any specific products.
- Our advisers are accountants as well as financial planners, which ensures that our advice considers all aspects of your situation.
- We deliver a personally tailored investment strategy that gives you confidence, certainty, security, flexibility and financial freedom.
- Our fee for service approach is based on giving you the very best advice – not just selling you a managed fund or insurance policy.
This gives us the freedom to tailor a strategy that serves your individual needs. Together we will help you to achieve the financial and lifestyle goals that are important to you and your family.
To find out more:
- Complimentary Meeting: TAG can help ensure your financial goals are on track by running a Wealth Projection for your personal circumstances. Contact us to organise a time.
- Watch our video: A Roadmap to Financial Success.
- Join our mailing list: for TAG updates and invites to info sessions and webinars.
- Contact Us: if you have any questions or want to commence your journey to financial success with a complimentary meeting.