Imagine what it would be like if doctors were paid by the drug companies and not by their patients.

Imagine if they were paid a commission based upon the amount of drugs they prescribed. 

Is this a model that would benefit patients?  

Would you want your own GP to be remunerated like that?

Of course not.

It would be foolhardy to have a system that fosters an inherent conflict of interest.

You wouldn’t want your own doctor to be working for Big Pharma companies, would you?

Imagine a similar scenario with financial planners. Do you want your financial planner to be working for the superfunds and insurance companies? 

“No” seems like a pretty obvious answer. You want your financial planner working for you.


Here’s the fact: most financial planners in Australia have direct ownership links and are paid commissions from banks, superfunds and life insurance companies. 

This system of payment creates a conflict of interest between the financial planner and the client. It fosters a sales culture in which the financial planner could be more interested in selling a financial product than providing the best advice. 

It’s important to note that not all financial planners operate under this model. 

There is a small but growing number of financial planners in Australia who are classed as Independent.

These Independent Financial Advisors must meet the following criteria:

  1. No ownership links to financial institutions like banks and product providers; 
  2. No receipt of any commissions from third parties; and 
  3. No client fees based upon a percentage of the investments being managed.      

When you pay an Independent Financial Planner, you know that your planner is working for you, and only you. 


Does that mean that non-independent financial planners are giving bad advice?

No, absolutely not.  Most financial planners give excellent advice and they make their clients’ needs their top priority.

However, most financial planners are operating in a bad system – a system that is broken and fosters an inherent conflict of interest between the client and the planner. It’s time to change this system.

It’s time to insist that your financial planner cut ties to the banks and product providers. 

It’s time to insist that your planner work for you, and you alone. 


To find an Independent Financial Planner in your area go to: