Home – New Forums Tell me straight… New Member Top 10 Financial Planner

  • This topic is empty.
Viewing 7 posts - 1 through 7 (of 7 total)
  • Author
    Posts
  • #978396
    James M
    Member
    • Total posts: 4
    Up
    0
    ::

    Hello

    I have created a website http://www.top10financialplanner.com.au. It has been designed so consumers or other professionals can quickly find the best financial planners in Australia. Over the next two weeks it will be filled with information on Financial Planners. I have been involved with the financial planning industry for 7 years and am a Certified Financial Planner myself. I am sick and tired of people receiving bad advice and created a website that lists advisers who are highly qualified and committed to their clients and the financial planning industry.

    For Financial Planners to list on the website they must be a Certified Financial Planner with a minimum of 5 years experience, there is also other selection criteria.

    If am seeking feedback and advice on the website dont hold back. Also feel free to like the site on Facebook or Linked in (icons in top right corner).

    Also what is a trackback on the forum?

    Kind Regards

    James Mazey

    #1106774
    Andrew Newman
    Member
    • Total posts: 78
    Up
    0
    ::

    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

    #1106775
    Peter – FS Administrator
    Member
    • Total posts: 1,889
    Up
    0
    ::
    James M, post: 118501 wrote:
    Hello
    Also what is a trackback on the forum?

    Hi James,
    You’re not the first and I doubt the the last to wonder this – the answer in this thread is the best we’ve got to explain in in simple(ish) terms so hope that helps even a little bit :)

    Also, I’ve moved this thread into the ‘community review’ section of the forum as it may get more focused feedback there.

    Thanks for joining and hope to hear more from you.

    Cheers
    Peter

    #1106776
    JacquiPryor
    Member
    • Total posts: 2,344
    Up
    0
    ::

    Hi James,

    Love the idea for your site.

    My concern/confusion is the name “Top 10” – this implies that you will only list 10 planners for each state? How do we as consumers know they really are the top 10 (versus first 10 to apply + meet selection criteria) – or, will there be more than 10 for each state and just Top 10 seems like a good name for the site?

    To ensure credibility for your site when it grows, as a consumer I would expect to see a bit more info about the business Top 10 Financial Planner, perhaps an “about us” page? ABN, Phone Number etc. For all intents and purposes it appears that you are trading a business called Top 10 Financial Planner (i.e. this “entity” owns copyright to the site etc) so ensure that the business name, at the very least is registered if not already. Consumers need to be able to figure out who (be it a person or a company) is behind a business. I may be in the minority but I always look for this sort of information before contacting or doing any business with another party.

    Hope this helps :)

    #1106777
    James M
    Member
    • Total posts: 4
    Up
    0
    ::
    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

    #1106778
    James M
    Member
    • Total posts: 4
    Up
    0
    ::
    JacquiPryor, post: 118750 wrote:
    Hi James,

    Love the idea for your site.

    My concern/confusion is the name “Top 10” – this implies that you will only list 10 planners for each state? How do we as consumers know they really are the top 10 (versus first 10 to apply + meet selection criteria) – or, will there be more than 10 for each state and just Top 10 seems like a good name for the site?

    To ensure credibility for your site when it grows, as a consumer I would expect to see a bit more info about the business Top 10 Financial Planner, perhaps an “about us” page? ABN, Phone Number etc. For all intents and purposes it appears that you are trading a business called Top 10 Financial Planner (i.e. this “entity” owns copyright to the site etc) so ensure that the business name, at the very least is registered if not already. Consumers need to be able to figure out who (be it a person or a company) is behind a business. I may be in the minority but I always look for this sort of information before contacting or doing any business with another party.

    Hope this helps :)

    Hi Jacqui

    There will be 10 advisers for each capital city. The name was mainly chosen to be catchy as people love looking at the best/top performers.

    As in many industries it is hard to list an absolute Top 10 as consumers all have different needs especially in Financial Planning. The aim of the site is to list 10 good quality trustworthy advisers in each capital city where people can go to and receive good advice.

    I am still considering listing people who I believe are the best based on publicly available information on the web (i.e. scrapping application page) or sending out emails for financial planners to apply what do you think?

    When the site is up and going the list can be adjusted by client testimonials or industry awards etc.

    I intend to set up a new structure next financial year and will look to upload more information.

    Thanks

    James

    #1106779
    Shaukat Adam Khalid
    Participant
    • Total posts: 1,528
    Up
    0
    ::

    Was this research conducted on behalf of or sponsored by CFPs? I’ve been in finance and also have a degree in international finance. Doesn’t mean squat. too many charlatans even after they’ve tightened the rules.

    The finance industry is full of experienced and licensed practioners who don’t know the difference between an investment bank and a piggy bank (exagerrated).:D

    they talk about past returns and then make you sign a disclaimer stating that the past is not indicative of future expected returns. :rolleyes:

    because most people are clueless about finance and numbers (including financial planners), they can’t tell the differece between a CFP who is a glorified sales person and a financial planner that has substance regardless of certification (which is overrated).

    IT’s best to do a simple course in or read on investment analysis and portfolio management before talking to a financial planner or pay and indepent help you select otherwise the chance of getting less than you are entitled to is extremely high.

    this does not mean the FP will rip you off. It’s like paying for driving lessons for a porsche and not taking further educaiton on performance driving to unleash it’s full potential. that’s a waste.

    buyer beware – especially when it comes to finance, marketing, sales, business or any advice that involves numbers and ROI.

    finally, the top 10 of anything rarely work with moms and pops or small businesses. Time taken is the same so why bother with low fees when you can charge more and deal with astute investors? Unless ofcourse there is an element of profit sharing (my preference).

    James M, post: 118784 wrote:
    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.s
Viewing 7 posts - 1 through 7 (of 7 total)
  • You must be logged in to reply to this topic.