Mission Financial | Businesses

Mission Financial

Phone: +61 428 577 010

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• Businesses
• Financial service
• Mortgage brokers
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• Financial planner

17.01.2022 I’ve known Murray for a long time now and he’s got a great operation going on. It’s great to hear some positivity for Aussie businesses. There’s also plenty available from the Government and banks for small businesses to continue through these crazy times.

16.01.2022 The cost of Financial Advice... interesting and debatable! Without knowing the full details of their situation and what their goals are and any resulting complexities it is hard to determine. With some assumptions I would expect fees charged by Mission Financial to be considerably lower than those quoted in the article. Different advisers will charge different fees. Much will depend upon their rationale of which some reasons for charging a premium fee may be warranted and som...e may simply be greed. I do understand many of my city counterparts do charge fees far greater than Mission Financial. Some would even be greater than the example provided. It generally comes down to the client’s priorities and what services and expectations they seek. The article’s response is very simplistic and I would consider to be incorrect. As far as putting together a comprehensive Statement of Advice in a couple of hours and it should only be a few pages of text is a complete misunderstanding of current legal requirements which an adviser must undertake to ensure they are in fact looking after the best interests of the client. There are hours of research involved to consider various strategic options and what impact they will have on the client’s short and longer term goals. Even doing nothing is considered just in case it proves to be in the best interest of the client to not change anything. Unfortunately, given the amount of regulation a Statement of Advice is generally forced to be a bulky document. This is not at the preference of the adviser that is for sure. To produce this document the adviser either pays good money to have it done by staff or contractor, or spends hours completing it themselves. Either way the cost adds up as do the ever increasing overheads. For a client such as the one in the article there are numerous strategic options that could be made to help them meet their goals. With advice, significant tax savings may be achievable, strategy put in place to provide protective measures which many clients of financial advisers are benefiting from during the current environment, potential Centrelink benefits often thought unobtainable and the benefit of removing emotional transactions which is particularly important during a time like this. It's also worth pointing out there are likely significant additional benefits if they sought advice years earlier. I know that Mission Financial will review a prospective client’s position against goals and objectives and determine if suitable advice which is in the client’s best interest can be provided. That analysis includes the cost of advice so that it would be reasonable to expect a client is in a better financial position by accepting and implementing the advice. If you feel the advice you are paying for or considering to pay for is too high, please contact me for an obligation free chat. Regards, Andrew Steindl 0428 577 010

14.01.2022 Some useful commentary regarding tax returns for the Financial Year ending 30/06/2020.

13.01.2022 Nice to see a positive report...