Relax and Unwind - Breeze Holiday Apartment in Victor Harbor - Adelaide

Unwind Holidays - Breeze Holiday Apartment in Victor Harbor - Adelaide

What are the dangers of Investing Property in SMSF ?

Why are the Alarm Bells ringing for SMSF Property Investing ?
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A recent Article in the Sydney Morning Herald entitled,
"Warning sound on DIY-super property",
 states,
'DIY superannuation funds turbo-charged with borrowing to buy property
are failing after two years because of high costs and low returns,
sparking alarm within the billion-dollar retirement industry about the
controversial investments.'
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The Article continues,

'Advisers recommending self-managed super funds claim they are being bombarded by property developers with offers of up to 20 per cent commissions, top-up bonuses and other special cash incentives to encourage the super investors to buy off-the-plan apartments.

"This is scary"....said the executive of SunSuper, a $30 billion super scheme for major companies and individuals, about the pressures on investors to borrow against their retirement assets.

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Investors are being offered "returns" on apartments equivalent to more than 20 times the Reserve Bank of Australia's cash rate, with free furniture and guaranteed tenancies.'

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The above Flow-Chart shows the potential problems with Property Spruiker Seminars giving incorrect advice on the setup and structure of SMSF's . The issue is that over-priced Apartments are sold at these Seminars using super savings as security for the loan.

 

Does the Customer know what they want ?

Exposing the  'Customer knows what they want' Social Media Sacred Cow
.

Recently I was reading a book on Twitter Marketing,
which had as its main premise,
"Twitter is where you find out what your Customers want".
Whilst I understand that there is some truth in this statement,
by and large it is a 'Sacred Cow' amongst Marketers that the
'Customer knows what they want, the Customer is always right'.
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The reality of Social Marketing is that Twitter is the place that ;
Firstly, Customers use Twitter to complain about poor Customer Service.
Secondly, Customers protest about poor Product Quality on Twitter.
Thirdly , Customers raise legitimate issues about product health concerns .
Fourthly , Customers raise ethical questions related to Brands .
Fifthly, Customers praise a Product or Service.
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Breaking News :
Customers are becoming far more likely to complain on Twitter
about Products, Services or Brands,
than to offer complimentary remarks.
Why ?
Because 'Social Media experts' are parroting
the REWARD THE COMPLAINER line.
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"Let's Wine & Dine the Whiners"
Reality Check ;
This is creating a Culture of Grumbling on Social Media,
because if you compliment the Service at a Restaurant on Twitter
you get a 'Thanks',
but if you WHINE, you get a FREE DINNER with a BOTTLE OF WINE.
We now have a large group of Professional Bleaters who know how
to work the Social System.
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What authority do I have to make the above claims ?
I have well over 10,000 followers on my Twitter Accounts,
and they are all growing daily .
I am a big promoter of Businesses correctly using Twitter,
but we need to stop believing the Social Marketing hype,
and go into Twitter with our eyes wide open.
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Over the last several years I have seen 10,000's of Business owners
open a Twitter Account because of listening to the advice
of Marketing Parrots saying,
"Open a Twitter Account and find out what your Customers want".
When these same Business owners encounter the real world
of Social Marketing on Twitter,
they find it is poles apart from what the 'Marketing Experts' told them,
and they subsequently quit .
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As a result Twitter has become a graveyard for Small Business Accounts,
when it could have been one of the greatest sources of Website Traffic
for those Businesses if Twitter was used properly.
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Would you like an effective Twitter Marketing Campaign ?
Phone Yellow Digital - Craig Holme +61 0423 585 932
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Let's connect on Twitter

Omega Course.

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Alpha Training and Development.

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Let's connect on Google+

Craig Holme

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Let's connect on Facebook

Craig Holme Consulting

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Yellow Digital

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Copyright - Craig Holme - 2014

 

 

 

 

Mortgage Broker Secrets

What is the Number 1 Secret your Mortgage Broker may not want you to know ?
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This Secret is clarified in the Advertising Question,
"Would your Bank tell you if a competitor had a better Home Loan ?".
Whilst this sounds like a reasonable Question to ask,
when we examine it we find that it is hiding a Secret
that your Mortgage Broker may not want you to know.
.
The assumption of the above Question is that your Bank
will not tell you about better Home Loan Options elsewhere.
Whilst this may be the case,
it ignores a far more important Question,
"Does your Bank have a better Home Loan option
  that you do not know about ?"
.
Why would Mortgage Brokers not tell their Clients
about better Home Loan options that their Bank  currently has ?"

3 Easy Steps to Take the Stress out of Tax with Flinders Accounting

3 Easy Steps to Take the Stress out of Tax with Flinders Accounting

Why are SMSF's outperforming regular Super ?

Why are SMSF's outperforming regular Super ?
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SMSF outperforming Super
 

Unwind @ 5 Breeze 'Cool Lime' Holiday Apartment Victor Harbor South Australia, Fleurieu Peninsula, Victor Harbor, Middleton, Goolwa, Port Elliot, Yankalilla, Surfers Paradise on the Gold Coast NOW OPEN

Unwind @ 5 Breeze 'Cool Lime' Holiday Apartment Victor Harbor South Australia, Fleurieu Peninsula, Victor Harbor, Middleton, Goolwa, Port Elliot, Yankalilla, Surfers Paradise on the Gold Coast NOW OPEN

Why choose a Mortgage Coach ? 3

Why choose a Mortgage Coach ? - 3
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A regular Mortgage Broker will usually act as an 'Order Taker'.
This Order Taker role can be indifferent
to important issues related to the Home Loan process,
and in particular the purchase of Investment Property for SMSF.
.
In an Article in the Sydney Morning Herald entitled,
'Property spruikers scent big opportunity in super',
with a subtitle,
'Regulators are struggling to keep up as the nexus between real estate operators
and financial advisers gets stronger.'
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The Article states,
'Property investment seminars being held around the country
are striking a chord with those seeking a comfortable environment.
Usually the main speaker will be from a real estate company,
though the exact nature of the business is not always clear.
But the pitch is clear enough:
how real estate, particularly apartments,
can be mortgaged inside a Self Managed Super Fund (SMSF)
where existing super is used for a deposit on the property.
Some even advise that if you do not have enough super
for the deposit,
you can borrow against the equity in the family home.
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Each week, about 700 self managed super funds are established.
No one is saying holding mortgaged property inside
an SMSF cannot be a good investment.
But it is the hard sell from unlicensed property spruikers
that has the Australian Securities and Investment Commission,
and others, worried.
.
'In the right hands , SMSF's can be very effective retirement saving vehicles',
ASIC Commissioner said....'In the wrong hands , however,
SMSF's can be high risk'.
 

Why choose a Mortgage Coach over a Mortgage Broker ?

Why choose a Mortgage Coach over a Mortgage Broker ? - 2
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If you are deciding to buy Investment Property,
it can be quite difficult to obtain the best advice from Property Seminars
and Property Spruikers.
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Subsequently when it comes to choosing which area in Australia
to buy Investment Property,
you need to obtain truly independent advice.
The problem with getting impartial advice,
is that nearly all Property Marketers
are spruiking the benefits of the Properties from their own Property Group.
.
How can you tell if the Investment Property is a good opportunity
if the Property Spruiker has a vested interest in the Sale ?
.

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When you are purchasing an Investment Property
your Mortgage Broker should be acting as a Mortgage Coach
in the negotiation of the Property transaction.
'Jack Parrot' the Mortgage Broker ( our fictitious character, a  pirate parrot )
 is merely an 'Order Taker',
and shows no real interest in the Property transaction process.
Jack Parrot repeats the same line ad nauseum ,
"We'll find the right loan for you",
and ignores the critical question for Property Investors,
"Are you buying in the right area ?".
.

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The above illustration is an analogy of 'Jack Parrot'
in collusion with a Property Group
to persuade Clients to buy Investment Property,
not based on impartial advice
but because of the Commissions paid.
.
We are not suggesting that every Mortgage Broker is a Jack Parrot,
but it is very important to understand the point of difference
offered by a Mortgage Coach .

 

4 Secrets to Successfully Managing your Business Finance

4 Secrets to Successfully Managing your Business Finance

What are the Risks of SMSF Property Lending ?

What are the Risks of SMSF Property Lending ? 1
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There has been a recent rapid increase in borrowing by Self Managed Super Funds
to purchase property.
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According to a recent article in the Sydney Morning Herald,
entitled 'Fears over SMSF property lending',
Self Managed Super Funds are 'splurging' on real estate.
It states, 'A five-fold increase in borrowing to help fund a $40 billion splurge
on property for self-managed super funds has prompted the Reserve Bank of Australia
to warn about further increasing investor debt-load through more borrowing.
The nations monetary mandarins warn the spending and borrowing binge
is "raising concerns" about exposure to increased risks,
such as another market crash wiping out property values,
or interest rate rises creating repayment difficulties.
.
But the research used by the bank and other independent analysis
is based on Australian Tax Office returns
that are at least 12 months old and miss recent boom market conditions
that have pushed up prices and lending.'
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What your Financial Adviser is not telling you about Budget Pain - 3

What your Financial Adviser is not telling you about Budget Pain - 3
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Most Financial Advisers are not disclosing the real causes of the current Budget Pain,
because it is much easier to either blame the current or previous Government.
According to the fictitious Financial Adviser , Jack Black (expert Golfer ),
.

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"Look it's the Governments fault that we are in this mess with escalating Debt,
 I recommend that you immediately take a Tax-avoidance strategy,
 and start vigorously blaming the Government like everyone else,
 go ahead and demand your rights and entitlements."
.
Why is Jack Black avoiding the real causes of Budget Pain ?
.
By not exposing the real causes of the growing Australian Budget Debt,
which is the rapidly ageing Baby Boomer demographic,
there is no perceived need to create a Financial Strategy
designed to reduce Government dependence for the Clients.
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As the above cartoon brilliantly depicts,

Clients are caught between contrasting Political ideologies, neither of which is dealing with the real causes of burgeoning Debt. 

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So instead of us all asking ,"How can we fix this Debt problem ?"

, the Baby Boomers are asking for their entitlements to be guaranteed.

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A recent Article deals with this issue in the Sydney Morning Herald entitled,

'Ask not what the Treasurer can do for you',

with a very pertinent sub-title,

 'The Federal Budget is not about how the Government can maintain your lifestyle'.

 It goes on to say,' The recent federal budget,

however, has uncovered a dimension in unpopularity.

 I've watched and read with interest the commentary this week surrounding the budget

and there is a theme, phrase and question that seems to pop up regularly...

 That theme or question is "How will I maintain my lifestyle ?"....

 I'm curious as to why a significant portion of the population appears to support this notion that the government's job is to maintain our lifestyles....

there is a big difference between supporting those that are unable to support themselves

and helping people maintain their lifestyles.

I believe the wrong question is currently being asked of our politicians .

Instead of asking the Treasurer, 'How will I maintain my lifestyle ?' ,

the question should be pointed at majority of us to answer that for ourselves.

 Perhaps the first question we need to ask ourselves should be,

' Is my lifestyle sustainable ?'

The second should be ,'will it give me the future that I want ?'.

.

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In contrast our 'character' Financial Adviser Jack Black is encouraging his Clients

to ask the Government to maintain their lifestyles .

The SMH article continues, 'If the answer is no to either of these questions,

 then it's up to you to take control of your finances and do something about.

 Not the government. Doing something about it means looking at your own budget,

what you are spending on and taking control of your own financial situation...

When we look to the government to maintain our lifestyles,

we are really setting ourselves up for disappointment and failure.

Instead, by becoming a conscious consumer with our own budget

who takes responsibility for our own lifestyles

then anything extra received from the government is a bonus

that matters little if it is taken away when the next government is ushered in .

Let's ensure our leaders face the tough questions

when it comes to the Budget and the public purse.

However , when it comes to money and maintaining our lifestyles,

let's decide to do something about that ourselves.'

.

It is apparent from the above article

that something is wrong with the attitude of many Baby Boomers

 who believe it is the role of Government to maintain their lifestyle.

What we are establishing is that some Financial Advisers have contributed

to this 'gravy train' mentality by themselves feeding off it.

 

 

What your Financial Adviser is not telling you about the Budget - 2

What your Financial Adviser is not telling you about the Budget - 2
.
In recent televised interviews of the Australian Treasurer discussing the Budget,
there has been an overwhelming response on Twitter and other Networks saying,
"How can the Government maintain my Lifestyle ?".
Are Financial Advisers in Australia partially responsible  for this
type of 'Government dependancy' based discussions,
by promoting 'tax loophole' strategies which create the idea
that it is the Governments role to maintain my current lifestyle ?
.

Very few Financial Advisers are asking,
'Who is going to pay the Taxes to keep the Baby Boomers
  in their Government dependency lifestyle ?'
.

.
The current Budget is a huge WAKE UP call
for Baby Boomers in Australia .
.

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How to choose the right Mortgage Broker - 12

How to choose the right Mortgage Broker - 12 | LinkedIn

3 Reasons Why Solution Selling will take you to the Top

3 reasons why Solution Selling will take you to the Top
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If I were to ask almost any Salesperson,
"Are you selling Products or Solutions ? ",
nearly every response would be to say Solutions.
But the reality of customer experience with Salespeople
tells the opposite story.
I have found that barely 1 in 100 of those in any form of Sales Profession
are actually selling Solutions to Customer problems.
The other 99 think that their primary role
is to ask the Customer 'what do you want',
and then to act as an order taker.
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1) The Customer does not know exactly what they want .
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    The realisation that the Customer does not know what they want,
    despite what they may say,
    comes as a huge shock to those in Sales or Retail
    who have been erroneously taught the wrong Sales Techniques.
    .
    The following Mantra is followed without question by Salespeople,
    not realizing that this concept is the cause of bad Customer Service.
   
    'The Customer is always right, the Customer knows everything,
     the Customer knows exactly what they want'.
.

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     This argument that the Customer knows what they want
     is most infuriating to the prospective Customer
     who is making an enquiry in the New Car Sales field.
     I am regularly told the following by New Car Sales Managers,
     "Well in New Car Sales almost all of our Customers
       come into the display area knowing exactly what they want.
       They've been up all night searching the Internet."
.

      .
      Of course in some areas of specific technological products,
      the Customer may search the Internet for specific mobile phone deals,
      as an example.
      But this does not mean that the Customer does not
      need a salesperson to assist with problem solving.
      New Car showrooms now usually display several different brands,
      whereas in the past it was just a Ford or GMH showroom .
      The increasing variety of choice of Car Brands,
      and the overwhelming amount of contradictory information on the Web,
      does not relegate the role of the Salesperson to Order Taker Status.
      The Customer may walk into a display room with a preconceived idea
      of what type of Car Brand A they want to purchase,
      and at what price.
      This same Customer could then be seen to be driving Car Brand B
      out of the showroom 1 hour later for a test drive.
      The Salesperson obviously asked the 'Internet expert' customer
      what their needs were,
      and matched them to the more expensive Car Brand B.
.

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      The next example of this is the Customer who insists on a Home Loan from Bank A,
      because they have spent much time on the Internet searching for which Bank
      can give them the best deal.
      When that Customer is then explained the benefits of Wholesale Rate Home Loans,
      they then immediately change their mind to obtain a discount,
      and to receive better customer service .
.
2)  Buyers are sceptical of Sales Marketing Hype
.

     Most Salespeople talk about providing Solutions,
     but then never uncover what are the real needs of the Customers.
     For example, the following is often stated in Sales Hype,
     "We can provide Solutions for you Mr Customer,
       we are Solution Sellers not just order takers,
       now what is it that you want mate ?"
.

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      Whilst the above pitch sounds like Solution Selling,
       it will actually produce scepticism in the Buyer.
.

       In reality Solution Selling asks questions to uncover needs and problems firstly,
       and then goes on to create the Solutions required.
       You cannot provide an effective Solution,
        until you first correctly diagnose exactly what the problems of the Client are.
        What would you think of a Doctor
        who in your appointment did not bother to try to identify your problem ?
        But instead asked you what you wanted,
        and expected you to create your own diagnosis and prescription.
.

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        Yet this is the way the vast majority of Salespeople
         treat their Clients .
         At the same time when the salesperson is
         questioned about this flawed selling approach,
         the salesperson then  insists in their defence,
         that they are selling Solutions and not just products.
.

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3) Creating Solutions will attract Clients to you .
.
    To attract Clients you need to have a highly developed Problem Solving Technique.
    This is easier said than done, because if it was simple to do then every Sales 'Jack'
    would already be doing it.
    The issue is getting the Client to first admit what the problem actually is.
    Your Doctor cannot help you in a diagnosis if you have a 'soldier-on' attitude,
    and refuse to admit that you have pain in your stomach, as an example.
.
     In Real Estate Sales this is of paramount importance in the Sales process.
.

     If the Client is believing all the hype about "Property Market Recovery",
     they may not be willing to accept a realistic Price reduction of their home,
     so as to ensure the Sale,
     and prevent the Home being listed for more than 120 days.
.
     If you cannot get the Customer
     to acknowledge that there is any kind of problem firstly,
     then the Solution that you provide will not be taken seriously.
     Picture a situation where you are asked to sell Parachutes
     to passengers on a plane flight.
.

     Nobody would pay any attention to your Sales Pitch,
     until you mentioned that there was a 50% chance the flight could crash.
     Suddenly everybody on that flight would be interested in buying a parachute,
     because the reality of their problem has been clearly presented to them.
     In Mortgage Sales the Client is not going to recognise they have a problem
     with their Home Loan,
     until it is explained how much they are losing
     by not accessing Wholesale Rate Loans.
.
What are the most common objections to Solution Selling from Salespeople ?
.
I often hear this statement in feedback from Salespeople ,
"Look , I am Selling Solutions to my Clients ,
  but the problem is that they are not buying my Solutions,
  I need to go back to plain and simple Product selling,
  this is all too hard and I don't really understand what your talking about,
  I'm not clear as to why we need to talk about Solutions anyway,
  we should just show the product to customers and let them make up their own mind,
  after all the Customer always knows what they want ."
    
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For Queensland Enquiries Phone John Maxwell +61 0432 379 203

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What your Financial Adviser is not telling you about the Budget

What your Financial Adviser is not telling you about the Budget
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We have all heard of 'Climate Change Sceptics',
but there is another insidious group of cynics,
the 'Baby Boomer Bust Sceptics'.
.

This Boomer Wave Sceptics group denies that the overwhelming evidence
of the Baby Boomer Retirement Tidal Wave
is having any real effect upon our Economy .
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The above Graph shows the Demographic of the number of people turning 65 in Australia every week . We can see the dramatic increase between 2001 and 2029. By 2025 nearly 6,000 people will be turning 65 every single week, and this is why the current Government wants to raise the Retirement Age to 70.

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1) Why are some Financial Advisers not warning their Clients about the coming Baby Boomer Retirement Tidal Wave ?

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It is much easier to deny the reality of the above Demographic, than to try to create a Solution for Clients to survive this Retiree Wave. The fact is that Australia's population is ageing, and this rapidly increasing age group require pensions, and healthcare and other entitlements. The Baby Boomers will be renowned as the most selfish population segment in history, because most are only concerned about their entitlements, and have little regard for how their children and grandchildren are going to pay for their Retirement Lifestyles.

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The Baby Boomer Bust concept is known as a 'Hot Potato' amongst some Financial Planners, so very little effective financial strategies are created to assist clients to deal with the Boomer Wave problem. By denying the problematic nature of the Retiree Demographic, nothing has to then be done to provide a Financial solution for Clients. "Baby Boomer Crisis, what crisis ?" has been the mantra of the Boomer Sceptics amongst Advisers, which has led to the paralysis of  any effective discussion of Economic programs to counter the effects of this huge issue. This demographic of Boomer Retirees is similar in Australia , New Zealand and the UK . However the USA is better positioned to deal with their 77+ million Baby Boomers because of their constant intake of new migrants.

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Would you like to discuss financial strategies to beat the effects
of the coming Boomer Tidal Wave ?
Phone Alpha Finance Strategists +61 0423 585 932 .
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Disclaimer -
This article is not meant to be taken as financial or investment advice .
Before making any financial decisions consult with your Accountant
or appropriately qualified Financial Adviser.

What are the pitfalls of Home Renovation Loans ?

How to use your Home Loan for renovations - 1
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Would you like to renovate your Home ?
If you are looking at updating your kitchen, or bathroom,
build a house extension, or do some extensive Do-It-Yourself repairs,
you may need to take out a Loan to achieve your renovation plans.
.

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Would you like a new kitchen like this ?

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If you want to use the equity in your Home Loan,
you should be careful to avoid redraw pitfalls.
.
One of the major dangers with drawing on your equity
is not creating a Clear Goal before starting your project.
.

An example that sometimes occurs is a Homeowner who decides to redraw $50k
to renovate their bathroom.
When the Home Loan is about to be drawn down for this purpose,
an uneducated Mortgage Broker suggests to the Householders that they should
'Consolidate their Loans' to save interest charges,
by using part of the $50k.
As a result of the Householder not having a clearly defined goal,
they then get sidetracked with the Broker's suggestion,
and only use $25,000 on the bathroom ,
and the other $25,000 to consolidate personal loans and Credit Cards.
.

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The problem with this confusion of purpose
is that the $25k left over is not enough to pay for all the expenses of the new bathroom .
Hence the original purpose of the Loan increase has been dissipated,
and valuable Home Equity has been wasted on 'Loan Consolidation'.
Mortgage Brokers who irresponsibly recommend this type of
confusion of purpose have not been educated by the
Alpha Professional Development Webinar Program.
.
Would you like deal with a Mortgage Adviser who assists you
to achieve your Home Renovation Goals ?
.

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Phone Craig Holme on 0423 585 932
.
Adelaide - Ashford Business Centre - Jeremy Reynolds 0402 905 818
                                                         
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Craig Holme Consulting
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Why I oppose the rollback of Financial Planning reforms

Why I oppose the rollback of Financial Planning reforms .

In a recent article in the Sydney Morning Herald entitled,
"Rollback on finance sector regulations a danger to savings:
 Industry Super Australia", it goes on to say ,
'The government's looming changes to the financial services sector
 could spark a wave of financial collapses similar to those between 2006 and 2010
 that wiped out $6 Billion in savings of more than 120,000 investors,
 Industry Super Australia claims.
 ISA, which represents 5 million Australians
 with industry superannuation savings,
 is opposed to the government's plans to roll
 back Future of Financial Advice reforms
 introduced under Labor.'

In my discussions with some Financial Planners who are not monitored by Accountants,
I find a common theme of the neglect of the conflict of interest ethical issue.
.
This represents the  opposing viewpoints of  offering the correct financial advice,
and the ongoing enticement of high commissions on certain investment products.
I have found  in my discussion of ethics with some financial planners,
that it is acknowledged that suspect investment products may get promoted if the Fofa reforms are revoked, and this is an area of major concern for ethical financial advisers.
However, some Financial Planners seem to be more interested in spending  time on the Golf Course,
than in resolving the conflict of interest issue.
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The article continues, "The government says it is rolling back the reforms to cut red tape and costs for consumers. It wants to water down requirements for financial planners to act in the best interests of clients, and scrap rules that would force financial planners to tell clients regularly how much they are paying in annual fees."

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The problem with the idea of cutting the red tape is that it was created by the Fofa reforms to help prevent financial advisers from promoted products based on commission incentives.

So in other words, the Financial Planner may  now in certain circumstances if the Fofa reforms are revoked, have less requirement to act in the best interests of the client, because the Investment product commissions

may become the primary concern of the Adviser.

.

The article goes on, "In a briefing paper the ISA warns that allowing financial planners to take commissions for selling bulk policies, and re-allowing other forms of conflicting remuneration, could pave the way for another financial collapse.."

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The reintroduction of conflicting commissions can create a culture of greed amongst financial planners, where Investment products that offer the most Commission may get inundated with funds. 

This  can in certain circumstances create a mini-bubble effect which may lead to the Investment product collapsing .

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What do you think ?

Should financial planners be primarily commission based,

or should they be Fee based in a similar way to Accountants ?

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Rollback of Finance Sector Regulations

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Disclaimer - This article does not in any way constitute financial advice. Before making any financial decisions you should always consult with your professionally qualified Accountant or appropriately qualified professional Adviser .

 

 

Will Interest Rates increase this year ?

Alpha Finance Solutions: Will Interest Rates increase this year ? 2

Why choose Alpha Accountants ?

Why choose Alpha Accountants ?

The Alpha Accountant Network  is a Training , Support and Mentoring System
for Accountants in Australia , New Zealand and South Africa .

1 :  Cloud Training - Is your head in the Cloud ?
      This incorporates ongoing Training and Updated Information
      on using the latest Cloud based software to improve your Business.
      We recommend that Alpha Accountants gradually transition
      into more advanced Cloud based software for the benefit of your Clients,
      and the improved Customer Service of your Accountancy practice.
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2 :  Wholesale Finance , Home Loans -
      Would you like an allocated Credit Adviser working with your Clients ?
      We do not recommend outsourcing to external Mortgage Brokers
      who are not connected to the Alpha Network .
      a) What are the consequences of external Mortgage Brokers
          referring your Clients on to other Accountants ?
      b) What are the dangers of external Mortgage Brokers
           offering advice to your Clients about SMSF's ?
      c) What are the benefits of  having an allocated internal Credit Adviser ?
          Having a Credit Adviser who is allocated to your Business
          from the Alpha Accountants Network gives you more security with your Clients.
          The Alpha Accountants System acts as an Umpire to
          ensure that your Clients are not offered Products or Services
          outside of our ethical guidelines.
          This means that you can offer an Added Value Service to your Clients,
          without the fear of losing control of your Clients .
.

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3) Ethical Guidelines for Financial Services .

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With the recent proposed rollback of the Fofa Reforms,

it is absolutely imperative that a clear line of distinction is created between the

Accountant Fee For Service  Based model ,

and the Commission Based Financial Planner scheme.

As a result of the Fee For Service Model predominantly used by Accountants,

an Ethical Framework for advice can be achieved .

However , the Commission incentive offered to Financial Planners

mean that often advice is given that is unethical .

In the Alpha Accountants Network the Accountant is the Umpire .

.

4) Why have Ethical Guidelines for Mortgage Brokers ?

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Networking with Mortgage Brokers can expose the Accountant's Client to increased risk if the Mortgage Broker is not given clear Ethical Guidelines and boundaries.

.

 

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5) What are consequences of Alpha Mortgage Brokers/Credit Advisers/Mortgage Coaches/Client Relationship Consultants and Managers/Accountants/ referring  Clients

 to an un-authorised Financial Planner group or to an un-authorised Mortgage Broker group ?

.

Some FP groups have a long history of promoting dubious investment products.

The incentive for the FP has been high commissions for the high risk products. Theses unethical FP's then entice ignorant Mortgage Brokers to offer these high commission Investment products to the unsuspecting Clients of the Accountant . These Clients are led to believe that their Accountant has endorsed the high risk product.

As more and more Mortgage Brokers are being roped into 'alliances' with spurious FP groups, this scenario is becoming a common occurrence.

     

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