The disruption and fall out from the Royal Commission continues. There has been significant change and scrambling in the major banks, Westpac abandoned their financial advisers a few months ago, CBA is selling off Count Financial Limited and shutting down its Financial Wisdom branded advice, MLC Wealth (aka NAB) is “restructuring” its finance advice business, ANZ has sold off its OnePath insurance business, AMP appears to have finally reached an agreement to sell its insurance business and, according to Challenger CEO, Richard Howes, “about 2,400 financial advisers have left the industry since December”.
At Power2 we are proud to have our own financial planning license. This means we aren’t tied to any banks, insurance companies or product issuers. We don’t have any weights around our ankles and we aren’t being disrupted or distracted from our corporate structure scrambling to make up for their Royal Commission shortcomings. For us, it’s business as usual. We continue to focus on the needs of our clients and choosing the products that are right for you.
Choosing a local, unrestricted financial advisor gives you peace of mind that YOUR best interests are being looked after and not those of the corporate. Are you in a Westpac product but the NAB product is better, then we’ll recommend NAB. Are you in an Industry Super Fund and that is best for you, then that’s what we’ll recommend. We get paid by our clients, not by the product providers, it’s the best way to stay free of conflicts.
If you are looking for financial advice that you can trust, then click here and speak to one of our reliable experts today.
Information provided is general advice only and does not take into account your personal objectives, financial situation or needs. Before acting on this information you should consider the appropriateness of the information having regard for your own circumstances, personal objectives, financial situation and needs. When deciding whether to acquire or continue to hold a financial product(s), you should first obtain and consider the Product Disclosure Statement(s), Information Statement(s) and/or other relevant product documentation relating to that product(s).
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