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How to get financial advice without forking out $3000 – afr.com
The finance industry is pleading with government to help reduce the cost of professional advice. In the meantime, these are your options.
According to the Australian Securities and Investments Commission (ASIC), the nations corporate cop, about a third of consumers dont believe advisers have their best interests at heart.
The No.1 barrier to people not seeing an adviser was not luck of trust but a belief it is too expensive. The median fee is a whopping $3256 per annum.
And given the banking royal commissions finding of widespread bad advice and conflicts of interest, especially at the big banks and corporations such as AMP and IOOF,…
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