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James M
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Andrew Newman, post: 118716 wrote:
Hi James

I really like your idea trying to assist consumers to find a good financial adviser but I don’t agree with your selection criteria, with the exception of a minimum of 5 years experience in the industry.

Obtaining the services of a highly qualified professional, in any industry, does not necessarily mean you will receive a service in your best interests.

As a thought, testimonials are considered very important and perhaps you could think about incorporating this into your website.

Kind Regards

Hi Andrew

Thank you for your feedback. I agree that using highly qualified professional will not always guarantee the best advice. However there are a lot of poorly qualified advisers in Financial Planning due to low entry requirements. The selection criteria will eliminate a lot of those, unfortunately I agree it will also eliminate other competent and honest advisers (hard to find a balance).

There is research which shows non Certified Financial Planner (CFP) Charter holders are 32 times more likely to breach ASIC regulations compared to CFP Charter holders. The site is designed to try and eliminate risk of people receiving poor or illegal advice by directing people to qualified advisers with experience and track record.

I will look to include client testimonials under the Financial Planner biographies good idea.

Thanks

James