Chris Cornish
(Principal Financial Adviser)
I’m excited to announceĀ 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:
āWhere an adviser is employed by, or aligned with and acts on behalf of, a principal who manufactures or sells financial products, the adviserās interests (and the principalās) will be advanced by persuading a client to acquire one of the principalās products.ā
The majority of financial planners are authorised to operate through a ādealer groupā 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:
āif the advice is for the client to acquire some financial product, it is in the clientās 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.ā
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.