As many of you may know, there is presently a Royal Commission being conducted into the conduct of the banking, superannuation and financial services industry. Over the next two weeks, the commission turns its attention to financial planning.
During this period, we expect that there will be issues raised highlighting the conduct of the large Financial Institutions as well as some of their advice practices and advisers, detailing breaches that have occurred over the past several years.
A number of the topics raised will highlight cases and areas of focus from the past that have already lead to significant legislative change. We have no doubt you will hear examples of behaviour and mistakes that need addressing by our industry.
Invest Blue welcomes and fully supports the Royal Commission. We believe the scrutiny and consequent transparency it brings will raise the bar for financial institutions and advice firms across our industry, assisting to lift the standards of the entire profession to better meet the legal, ethical and social expectations of its clients.
We believe in transparency, as we want to ensure the industry standards we operate within, meet evolving community expectations. We advocate for the professionalisation of our sector so that the millions of people it serves can be confident that they are in good hands. We want to ensure all those who call themselves a ‘Financial Adviser’ or ‘Financial Planner’ are well and truly qualified to do so.
We have seen similar reviews in our industry in recent years, in particular the Future of Financial Advice (FOFA) and Financial Adviser Standards and Ethics Authority (FASEA) reforms. As a result, legislation has changed, and the way we operate has moved with the times.
At Invest Blue, we are always focused on delivering the best service we can to our 3000+ clients. We are PASSIONATE about helping people realise their goals and dreams, so that they can live their best possible life. The passion we have for our work means our entire advice process is designed first to understand and get to know our clients, which enables them to clarify what is most important to them, identify their key goals and then create a financial strategy to help them realise those goals. We know that the value for our clients is not establishing a plan and then forgetting about it. The value for our clients comes when we continue to work with them over the years, learning about the ways their lives are changing and ensuring their financial plans are aligned with their goals.
We are 100% committed to providing valuable advice to our clients and to be here when you need us the most.
As a result of this, we have wonderful clients who report high levels of satisfaction with the work we do with them; this is our big dream. We have countless client stories that demonstrate the value we provide and how we’ve touched and changed their lives. Read more about our clients here. These success stories can only be achieved by a team of people who are passionate, love what they do and are motivated to do their best for our clients at all times.
We also go a step further, working with The Beddoes Institute, an independent body who research best practice for Financial Services, and conduct an annual client experience audit. This process gives our clients the opportunity to review our performance against a number of critical benchmarks. Last years survey told us that we scored 91 for the “Practice Adviser Trust! Score”, which equals the high performing practices benchmark.
Another benefit of the work we do with the Beddoes Institute is the ability to assess our advisers against their “Most Trusted Adviser (MTA)” qualification. It is a rigorous independent review of each of our advisers which judges them based on their experience, client volumes, quality of work through compliance checks and most importantly, client relationships. Last year, all of our advisers who met the ‘years of experience’ test qualified for the MTA designation. Learn more about the MTA here.
Over the coming weeks, if you become concerned about your existing financial policies or have questions about our Financial Planning Practice, we encourage you to get in touch with us at firstname.lastname@example.org or by calling 1300 346 837.
We expect that during the course of the Royal Commission, problems our industry has had in the past will come to light and that as a result of this process, we will see a higher standard of financial advice practices across the country. We will welcome any changes in the knowledge they will add to community confidence in our industry.
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