Scaled advice offering now increases the need for “Trusted Advisor Role”

Trusted advisor role now more important than every with the latest release of the  Scaled Financial advice  now being offered by Banks to clients located in the isolated areas such as high income areas, being the isolated mining industry areas, which are not serviced adequately by advisors.

Scaled advice is normally limited to a single area such as retirement planning or insurance and this has already been successful for some of the major banks, who have been impacted by the decline in the lending volumes and hence looking to improve income in the advice areas. This form of delivery and service is being offered to clients at a cost of $199 to $300 and will certainly force many changes to the way traditional advice has been offered in the past. On the other hand it will now enable many people that have
previously not sought this advice due to either costs or their respective isolated location.

There are many changes now happening in the Australia markets challenging many different delivery models and also there is finally a realisation that clients are time poor and cannot fit into the long standing traditional methods of delivery, that have successful in the past.

The future of success will rest with the business models that is able to offer the truly one stop product delivery platform and shop and a client wishes to only supply their information once to a “Trusted Advisor” and that trusted advisor will need to take care of all the financial related matters. For example the trusted advisor will need to up skill themselves and be able to advice in a range of areas such as credit, property, investment, and superannuation and insurance. Traditional advisors have been limited to a small
range of advice areas as because that they way it’s always been done but no more.

The future for success lays in the trusted advisor to be the clients one point of contact for all their needs, to be qualified and able to
give the required advice then to hand the process and paperwork to their back office support teams for processing. Too many people that are very good at selling spend far too much time doing the “stuff” and hence fail to reach their full potential and earnings ability.

AAMC Training Group has been spreading this message for some years now and has in fact structured its business model to assist many clients and new clients to reach their full potential, so they will never wonder at the end of their working life, “Could they have achieved more”, as taking the challenge today will answer that question, today.

Property Investment

When potential clients wish to become property investors they should follow the basic principles of carrying out their own research before entering into any contract. There are five principal areas where help is available. Too often we see those people investing in real estate without doing their own homework. When the investment sours for whatever reason the blame seems to be directed at anyone bar the investor. There are five principal areas where help is available. Shown below is the path a potential investor should take.

1.    The Accountant/Investment Advisor

The Accountant and/or an Investment Advisor is in a position to offer advice on the benefits and the risks involved in this type of investment because they have the required qualifications. It is particularly important to be fully aware of the implications in borrowing in one’s own name, a company or a family trust. What type of investment suits the needs of the client? Should it be an investment where the client can visit the property in a physical sense? Or, should it be a listed property trust where one can drive past a building and say “I think I own that window on the 4th floor”?
This advice may cost a little but it may also be money well spent in the long run.

2.    The Broker
The Finance/Mortgage Broker is committed to assisting clients in the search for a loan facility that suits their needs and provides funding solutions in line with the advice received from the Accountant/Investment Advisor. The Finance/Mortgage Broker has access to many and varied loan structures and receives remuneration from the lender

3.    The Real Estate Agent
By allowing a Real Estate Agent to find a suitable property, the client can eliminate a lot of guess work. The agent is in the area and has a good understanding and knowledge of what properties are on the Market and can advise of trends in the particular area being sought.

4.    The Settlement Agent/Conveyancer
Settlement agents and conveyancing firms are licensed by the various
State and Territory authorities and have a recommended Schedule of
Fees. However reduced fees may be negotiated. It is wise for the
purchaser and the vendor to have different firms acting on their behalf.

5.    The Lender
Your Finance/Mortgage Broker will introduce the loan application to a lender. It may be the clients’ existing lender or there may be a need to change lenders. If that is the case, ensure all the costs such as application fees, ongoing fees and exit fees are fully understood.

If the Investor follows the steps outlined above it should turn out to be a rewarding experience.