I finished the letter by offering to meet with him to explain myself further and to give him the comfort that the transition can be done and that it has been done by many others.
I explained that doing so will lead to better com- mercial outcomes for him, unambiguously trusted relationships with his clients and the freedom to ad- vise with complete intellectual independence. Surely, those are outcomes worth achieving.
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Whilst i do agree with most aspects of the acticle. The proposition that advice will change due to the remuneration of an adviser is rubbish. The fundamental concept of investing for clients is time. The wealth gains are made over time. Our investment advice should not and will not change based on how we are remunerated. To suggest otherwise is just spin.
I agree with the article because investment advise is only a part of the advice we provide. Our fundamental role is to help our clients and there families achieve the financial potential they are capable of and based on their earning capacity, Saving capacity and importantly the ability to make logical sensible lifestyle decisions along the way. All things in their control. If one’s value proposition is only around investment advice then I am of the view that an investment adviser needs to be properly resourced to actively manage a clients funds rather than just outsourcing the investments to a range of fund managers.