Frequently asked questions:
What is the IFAAA (Independent Financial Advisers Association of Australia) and the Gold Standard of Independence™?
You can learn more about independent financial advice and how to locate a genuinely independent adviser via the IFAAA website.
Are our offices accessible?
Yes, both Sutherland and Shellharbour offices feature easy access, with adjacent street parking available.
Do we provide tax agent services?
No. We do not lodge tax returns or provide tax (financial) advice. Where there are tax issues involved we will work with your accountant or refer you to a reputable tax professional to seek specific tax advice.
Do you outsource your para-planning work either in Australia or overseas?
No. All our financial plans are produced in-house; you can work directly with the advisers and the support staff who will create your strategy. This is part of our long term, personal approach to client relationships and gives us greater control over custody of your private information.
I’ve read that I need to seek out a ‘fiduciary’?
We are aware that a number of financial authors- mostly from the U.S.- recommend working with an independent fiduciary (adviser). In Australia, all financial advisers have a fiduciary requirement under law known as the Best Interests Duty- to act only in clients best interests. We are happy to discuss arrangements for investors seeking a trusted independent adviser for their assets. It is important to note however, that all clients will still require a comprehensive Statement of Advice taking into account their specific goals and requirements in order for us to be able to provide personal financial advice. Importantly- we do not provide Managed Discretionary Account (‘MDA’) services.’
What is the benefit of only using fixed, up-front fees?
Besides removing conflicts of interest and ensuring we work only for you, it typically costs less over the long term and you only pay for the advice services you use- the balance of your accounts doesn’t determine what you pay. We are not limited to a range of products approved by a dealer group, which are often in-house products they are required to sell or distribute. Independent, fee-for-service advice is especially useful for advising in areas such as direct property investments or cash flow coaching- these are often neglected by advisers due to the limited opportunity to sell financial products.
Do we monitor your investments for you?
No. We are not stockbrokers or day traders, and while we will book regular reviews with our Money Management clients, we do not continuously monitor investments or financial markets for any of our clients. We work with your big picture goals and personal needs into the long term. If you are not comfortable with your investments, or the share market is keeping you awake at night, it may be time to seek independent financial advice. If you require stockbroker services as part of your financial strategy we can refer you to reputable providers we use.
Can we help with implementing investments?
We can assist with many tasks, such as buying and selling shares or investments products for clients in our Money Management service. We will only act on your instructions after having assessed the situation with you and providing a Statement of Advice/ Record of Advice as appropriate. We do not provide Managed Discretionary Accounts. We strongly encourage clients to retain custody of their own investments, and the ability to make their own transactions.
Clients who would like to learn how to set up a trading account to buy and sell shares are encouraged to ask our advisers to show you how. It is often easier than you think to take control of your investments, and also worth noting- many superannuation products now feature share-trading facilities that you easily operate yourself.
Do we take cash?
No. We also meet our obligations under the Anti-Money Laundering Counter Terrorism Financing legislation in reporting suspicious transactions or investments. You can pay for our services using cheque or EFT. We are now trialing Eftpos card facilities at our Shellharbour site.
I have a Defined Benefits superannuation product, can you still advise me?
Yes. As we have no links to product manufacturers, we can work with any product that is in your best interests- without favouring any provider. This includes government pension products, retail super funds and industry super funds, just to name a few.
Do we make home visits?
Unfortunately, due to WH&S, it is not possible to visit clients in their homes, and we encourage you to meet your adviser at our offices, this also means we will have greater information and support staff available to assist if needed. We can see clients in aged care or hospital only if necessary and we will assess this on a case-by-case basis.
Can we work with family groups?
Yes! We often work with families to ensure each member can optimise their finances, wealth creation and estate planning together, including self-managed super funds. Besides being cost effective to pool advice fees, it can provide peace of mind to know your family are all involved in your plans. Our advisers have professional and personal experience with many of life’s most challenging family situations. This includes family businesses, trusts, terminal illnesses, entering aged care and planning the future care of family members with disabilities- we offer impartial advice with empathy.
Do we do pro-bono work?
Generally no- however Liquidity Independent Advisers support a variety of charitable causes, and occasionally assist clients who would ordinarily be unable to pay our fees. This can be discussed on a case-by-case basis at our adviser’s discretion. We are active in our communities and support a number of not-for profit groups, and we can make financial information presentations to relevant bodies who share our values around ethical, quality financial advice- contact us for more information.