moneyblog

Australia: another study shows people are better off with advice

According to anew report issued by Russell Investments in Australia states that financial advisers add at least 4.4% or more every year to clients - and a total of about $560,000 better off overall. Rather than see this as another shot-fired in the 'active' versus 'passive' debate, I prefer to focus on the behavioural aspects that financial advisers bring to the relationship - that applies to risk management, to insurance, to home loans advice, and debt repayment, and holistic financial advice. Readers will know that I am made keen on technical aspects of our industry: policy comparison especially, but also financial performance, price, underwriting, and digital advice. All these matter, but the central territory for advice is helping clients change. 

The study worked with a number of advisers from US, Canada and Australia for the past 20 years and identified five key areas of financial advice in the report: annual rebalancing, preventing behavioural mistakes, planning and additional wealth management services and tax-smart investing. Click here to read more. 

 

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Quality Product Research Limited Updates

The new research datbase V118 has just been uploaded onto Quotemonster with a few rating changes as outlined below:

• Partners Life new policy documents dated 5 /12/ 2018 for all products
• Pinnacle Life's Funeral Cover new policy wording
• Nib new rating for serious illness wording
• Westpac remediation for Life and Trauma
• Onepath updated policy wording v 4.4
• Co-op Bank life new policy wording for Life and Trauma

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