Ep199 All Your Finance Needs (not), with Andrew Barrett

Safety on Tap

I know her personally, we were part of a business group a few years ago.

Having gotten far more focussed and proactive with my overall financial goals and position in recent years, I asked this Financial Planner to come over and help us plan our finances.

We prepared a lot, laid it all out - mortgage situation, credit, assets, a business, a family trust, a farming partnership, superannuation (401k), insurances, cash position, investments.....it was all there.

I wanted the Financial Planner to help challenge and refine our Financial Plans.

I was confused when she kept suggesting that we really should buy more shares, and certainly move our insurances somewhere else. I just wanted a few hours of planning help I would gladly pay for.

She left saying she would send some info, and I actually didn't hear from her.

It turns out the Financial Planner isn't interested in helping people with their financial planning, but to push them towards products and services for which they get a commission.

Call me naive, I was still surprised. And I didn't get what I wanted.

So I laughed when today's email said 'We've got solutions for all your finance needs' - EXCEPT THE ACTUAL PLANNING PART OF FINANCIAL PLANNING.