There’s been significant media attention recently regarding the Royal Commission into the Banking, Superannuation and Financial Services Industry. The Royal Commission has so far focussed on the big four banks and AMP and has exposed some serious failings in the industry. Sadly none of this has surprised us and we are disappointed at the conduct of some people in the advice industry, particularly as it has the potential to tarnish the reputation of the entire financial advice industry. To that end, we welcome the Royal Commission in the hope that it will raise standards within our profession and restore clients’ trust in the financial advice they receive.
We understand that you may have questions about what this all means for The Wealth Mentoring Group so we wanted to reaffirm our position:
- We are privately owned – the four shareholders are all employees of The Wealth Mentoring Group
- We require a license to provide financial advice. We currently use a licensee which is owed by Westpac and we have the discretion to change our licensee if we determine this makes sense for our clients and our business. Our licensee provides us with a range of services including research, compliance and technical services.
- We are not required to recommend Westpac products and we do not receive any revenue for recommending Westpac investment products over any other products.
- When we recommend an investment product, our recommendation is driven solely by ensuring that product will help achieve client goals.
We have always been and continue to be committed to providing our clients with the highest quality service and advice that is in their best interests.
If you, or your family, friends or colleagues are disenchanted with advice previously received, we would welcome the opportunity to sit down and discuss how we might be able to assist in meeting your financial needs.