How the new Financial Planners Register can help you?
Do you trust financial planners?The financial planning industry has suffered a serious fall from grace in the last few years. From Storm Financial to the Commonwealth Bank, major issues continue to be exposed.Both government and industry have been quick to counter with a raft of measures designed to restore faith and rebuild trust. One of the first is the Financial Planners Register and this week on YOU LEGAL TV we look at what information it will, and won't provide to help you pick the perfect financial planner for your needs.To explore the Financial Planners Register for yourself head to https://www.moneysmart.gov.au/investing/financial-advice/financial-advisers-register
See below for complete transcript of this episode -
Are you in the market for a new financial planner? If you are good news because Axis Smart Money website now maintains a register of all existing authorized financial planners in Australia. If you want to find out if a financial planner is authorized to provide certain products or advice, then Smart Money website will let you know that now.
It's a great tool for consumers to find out more factual information about a financial planner they're planning on seeing and there will be very harsh penalties involved for planners who don't comply with keeping that information up to date.
What the website won't provide you with is any opinion about whether or not the financial planner you are wanting to see is any good. It's a good first step for your due diligence and if you do have any questions about a planner that you've seen or advice you've received please feel free to give me a call or shoot me an email. Otherwise, I look forward to seeing you on future episodes of You Legal TV.
What Should I Do Next?
Contact us if you would like further legal advice on the Financial Planners Register. Our lawyers at You Legal will be happy to assist you in whatever way we can.
* This blog is for general guidance only. Legal advice should be sought before taking action in relation to any specific issues.