URGENT! Can't get a Certificate of independent financial advisor

Discussion in 'Financial Planning' started by _alex_, 24th Jan, 2017.

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  1. _alex_

    _alex_ Active Member

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    Any chance of pm me the contact details?
     
    _alex_, 25th Jan, 2017
    #41
  2. Terry_w

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

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    Cowboys at cabramatta?

    No chance.
     
    Terry_w, 25th Jan, 2017
    #42
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  3. womble66

    womble66 Well-Known Member

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    Sorry no idea :(

    Yep that's me, confused all the time :)

    Needed to go for a dig in the archives for this one and it seems my memory had faded as back when I was with WBC I had 2 types of loans, 1 being a joint loan and 1 being a loan guarantored by my wife (if that the correct terminology).

    It was under this "Guarantee and Indemnity" document from WBC in 2012 that my wife had to seek independent legal advice and sign Schedule 2 (declared she was the guarantor and had seek independent legal advice) of that document which was witnessed by her solicitor and also Schedule 4 Part 2 (declared she had instructed her solicitor to give legal advice on being a guarantor) which contained similar content to that of the OP (except it clearly stated in clause 4 that it was not financial advice) and this was just signed by the wife.

    Again as it's different but similar I am probably still confused :)
     
    womble66, 27th Jan, 2017
    #43
  4. dabbler

    dabbler Well-Known Member

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    It was a long time ago, the solicitor sent us to someone else in same building from memory.

    Just do a search for people in Sydney and start calling them up one by one and see what they say.
     
    dabbler, 27th Jan, 2017
    #44
  5. Lindsay_W

    Lindsay_W Well-Known Member

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    I know this is an old thread but I'm just putting this solution here in case anyone runs into this issue in the future.
    If you or your client needs an Financial Advice Certificate signed off for an SMSF loan please visit the following website, cheapest by far and very good service.
    http://www.seekwealthservices.com.au/fac/
     
    Lindsay_W, 24th Oct, 2018
    #45
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  6. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    We see a lot of these. They are costly. And often refused.

    To give financial advice requires complex financial advice and knowledge of the client affairs. And some of the items in the certificate are legal / credit (no financial product advice) issues so good luck with getting that signed off.

    We wouldnt touch what you have been given as it seems to be credit, mortgage and legal advice in respect of each item. Sometimes a FP certificate will require legal advice FIRST or we wont give any advice.

    The wife also needs legal advice in respect of the loan as I assume she will give a guarantee in respect of the trustee borrowing and mortgage terms. Financial planners can be sued later if the wife says - I didnt realise I was giving a guarantee in respect of the trust. I was led to believe a trust gave asset protection and YOU didnt tell me about the risk.
     
    Paul@PAS, 1st Nov, 2018
    #46
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