(Principal Financial Adviser)
I’m excited to announce a name change from Avant Financial Services to Cornish Wealth Management.
The rationale for this change is partly driven from the Royal Commission into Banking and Financial Services. Commissioner Haynes succinctly addresses one of the overriding issues in financial services:
“Where an adviser is employed by, or aligned with and acts on behalf of, a principal who manufactures or sells financial products, the adviser’s interests (and the principal’s) will be advanced by persuading a client to acquire one of the principal’s products.”
The majority of financial planners are authorised to operate through a ‘dealer group’ which, in the majority of cases, is aligned to the banks, insurance companies or other product providers. When I went to the effort and cost of obtaining my own licence through ASIC, it was so that I could act without pressure to use any particular product.
As Commissioner Haynes also wrote:
“if the advice is for the client to acquire some financial product, it is in the client’s interests to obtain the best product: best in the sense that it is fit for purpose, best in the sense also that it is the cheapest and (as far as can reasonably be determined) the best performing product available.”
I want the name change to highlight the difference between me and other financial planners. I recommend the products I believe are best for my clients, whether they be industry super funds, specialist investments or self-managed super funds. I have no allegiance other than to my clients.
And I am prepared to put my name to the advice I provide.
My new Financial Services Guide can be found here.