Recommendations for a financial planner in Sydney

Discussion in 'Financial Planning' started by joelo, 5th May, 2020.

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  1. joelo

    joelo New Member

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    Hi guys,

    My parents are sole traders in their 50's and want to plan for retirement in the next 10-15 years. They have invested in primarily properties however have some money in shares.

    Would anyone be able to recommend any financial planners based in Sydney that could assist with a plan to achieve a certain passive income by retirement? Preferably a team with good knowledge of property investment. So far I have been looking into the teams at Empower Wealth and Strategic Wealth Management.

    Cheers!
     
  2. pwnitat0r

    pwnitat0r Well-Known Member

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    Financial planners are unable to give advice on property. They can only give general advice along the lines of if it were to be sold, the profit/loss, tax incurred, and possible ways to invest the proceeds, etc.

    Property is not a financial product and outside the scope of what they can advise on... and unfortunately property spruikers operate outside the regulation of ASIC.
     
  3. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    SWM gets the rick for me

    We have many common clients

    no issues



    ta
    rof
     
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  4. Jaxon Avery

    Jaxon Avery Well-Known Member

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    Mate I actually gives Case studies for investments (property)

    for clients.


    Kind regards


    Jaxon Avery

    Disclaimer: This is general information only & may not be right for your situation or circumstances.
     
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  5. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

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    This is just not true. I think you have written this before too.
     
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  6. mkbonline

    mkbonline Well-Known Member

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    So any recommendations for Sydney based financial planner? My situation is different (working couple in early 40s, two kids , looking for expert advise on financial planning across various assets- property, stocks, ETFs)
     
  7. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Do they need to be F2F, especially in these interesting times ?

    ta

    rolf
     
  8. mkbonline

    mkbonline Well-Known Member

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    Prefer face to face but open.
     
  9. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

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    Kyle at http://miadvice.com.au/
    independent
     
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  10. The Falcon

    The Falcon Well-Known Member

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    I like the cut of his jib. I had a look at his bio, the “awesome firm” in Mosman he mentions is Minchin Moore but they will only accept good sized accounts and here is the pity.

    There is such a large underserved market here I think, it’s a real challenge is getting good advice - and a remuneration and advice model that makes the advice business viable for lower balances is the key.
     
  11. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    There you have it.

    had Hayne had his way, broking would have headed in the same direction but for very diff reasons.

    The majority of people that can benefit most from advice are the ones that can no long justify it

    That to me is not good regulation, its a form of elitism.

    ta
    rolf
     
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  12. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

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    That is a separate business that I think he used to work for.
     
  13. The Falcon

    The Falcon Well-Known Member

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    Yes that’s right.
     
  14. kierank

    kierank Well-Known Member

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    Did you mean Nick? :p

    I would give them a rick too but drop the R and start with a T - we are clients but not for FP
     
  15. mkbonline

    mkbonline Well-Known Member

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    Thanks for sharing. Interesting profile but I am really looking for someone who is more experienced , been there and done that himself.
     
  16. Redwood

    Redwood Well-Known Member Business Member

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  17. kitdoctor

    kitdoctor Well-Known Member

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    If you had an existing IP portfolio (negatively geared) which is essentially keeping your wife stuck at work while I've retired (on a generous superannuation based pension) and you're not really sure how to or should you sell-up and kill the goose that laid the golden egg where can you go for professional macro advice to consider possible options? I know of SWM and had an introductory conversation with them a few years ago at which point they said come back in a few years time.
     
  18. kitdoctor

    kitdoctor Well-Known Member

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    I can't get it to work.
     
  19. pwnitat0r

    pwnitat0r Well-Known Member

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    I would stay clear of Minchin Moore.
     
  20. The Falcon

    The Falcon Well-Known Member

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    Can you expand on that ? Are you suggestive of malfeasance or a difference of thinking on investment approach?
     
    Last edited: 30th Nov, 2020