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News Bulletin : ADA News Bulletin May 2011
51 MAY 2011 investment insight fits all' approach producing poor outcomes and below average results. Advisers say "Either you take my full service advice package with annual percentage based fees or you take nothing." Financial planners now sell standardised advice and charge bespoke prices. Many advisers attempt to provide some of the services on the list of "what investors want" but mostly they are selling a packaged service or a concept of how to achieve financial security. The result is unhappy customers disappointed with the results they receive and the fees they are paying. I believe it is possible to give investors many of the services they are currently charged percentage based fees as a subscription package for a flat annual fee. Analysing the financial services industry and the needs of investors through personal interviews and customer surveys over the past year, it is clear that most investors want to have a greater control over their financial future but need assistance or guidance. This analysis has resulted in the creation of a set of tools and educational resources* that allow investors to take greater control of their investments that is cost effective and suitable for time poor investors. Available 24/7, the service is designed to replace or augment many of the services advisers currently provide in a time efficient manner as well as better equip investors to ask their advisers the right questions when choosing to seek advice. Investors will understand the risks associated with their investments and their own attitudes towards risk. However, an adviser may be required from time to time to access technical advice in a similar way to an accountant *2020 Portfolio Service -- Annual Subscription service -- see 2020 website for details. or lawyer. However, the key difference is subscribers to the service will be more knowledgeable and more risk aware which will result in more successful investors. In conclusion, make this your 'eureka moment' and act now to take control of your financial future. In your heart of hearts you know this makes sense and the simple truth is "no one cares more about your money than you". The information contained in this article is believed to be accurate. To the maximum extent permitted by the law, 2020 DIRECTINVEST (AFSL 244 249) disclaims liability for errors in, or omissions from, this article. In no way should this article be construed as providing securities advice or an endorsement or recommendation of any security or product. In preparing this article we have not taken into consideration your investment objectives or your investment needs and make no representation as to the suitability or otherwise of any product, or security, to you. Michael Lannon is the Executive Director of 2020 DIRECTINVEST, an ADA Partner service specialising in the provision of execution only DIY investment services. For more information or any questions please contact Michael Lannon on 1800 352 021 or visit 2020's website on www.2020DIRECTINVEST.com.au
ADA News Bulletin April 2011
ADA News Bulletin June 2011