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Aware Financial Services

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22.01.2022 Welcome to our Group and a place to share information, discuss issues, and provide ideas intended to help you plan your taxes and finances in the best way to suit your own needs. We have a wealth of information and experience that can give you practical ideas to use in your daily activities but we always say you should "work to live NOT live to work". Also, "live and learn" how to balance the constant challenges we face in an ever changing world - the Power is in your hands! ...That means we suggest both work / savings / investments and taking time out to relax and for some recreation to ensure you enjoy a balanced life with family and friends. Please feel free to ask us questions and about any challenges you have and we will give you some answers to help guide you in future. Thanking you in advance and we hope you have the "Attitude of Gratitude" because life is largely what you make it! See more

21.01.2022 When will we all learn to accept more responsibility for our decisions instead of trying to find someone to blame?

20.01.2022 I am neither associated with Labor or Liberal but my opinion is that the debate about Dividend imputation is full of distorted facts and that a balanced view is not being heard. Instead I seem to hear that many people think this is something which should be tampered with to help Labor find funds for other things. The message being lost is that its far more important to leave this as it is than change it because it will have more negative consequences which affects many more people than Labor realises. Ask me for a full balanced fact sheet to stay informed of both the positive and negative effects of what Labor is proposing. I would also like to know how many people have already decided on this issue one way or another with the poll below?

17.01.2022 Banking and Financial advice will never be the same after the full review of our Financial System is completed. This does demonstrate the need to be vigilant about certain fraudulent and misleading practices but sadly I believe the overall media focus will have more of a long term negative impact on society and the economy. For example the ASIC Report 498 did review many of the important issues regarding poor insurance policies and claims but the focus on the "rejections" (sa...y up to 16% for TPD) ignores the large number which are promptly paid (as much as 96% for Life - see page 7). https://www.asic.gov.au//rep498-published-12-october-2016a However, Direct Life insurances, usually sold by phone, is obviously not ideal and the reason why advice should be sought as ASIC confirmed the Advisers policies had significantly higher successful claims. This is the message being lost - more advice is needed but less are getting it and we must try to help people learn the value we are adding to improve their lives. Please feel free to talk to us further about How? https://www.nestegg.com.au//12288-aggressive-life-insuranc See more

15.01.2022 Another update on our economic position reveals that the domino effect of tighter lending conditions and issues from the Royal Commission is catching everyone by surprise as the slowdown in housing effects more parts of the economy. Frustrating because our experience with the average person told us that once again these politicians living in their "ivory towers" are poorly informed and disconnected from understanding human behaviour. As I have said in previous posts, this could take anything between 1 to 3 years to stabilise but the uncertainty will continue until after the next election in 2019 and any new laws or changes finally made. https://www.abc.net.au//australian-economy-cools-/10584234

14.01.2022 Australian government plans to help boost our trades workers with a cash grant of $25,000. See the attached article for more details and the issues mentioned at the bottom could prove to be more typical than expected? The "red-tape" could well delay and prevent many from accessing this stimulus. https://www.realestate.com.au//governments-grants-welcom/

13.01.2022 The future of advice is at risk as more advisers quit. This doesn't help our society as the need for good advice increases during tough times but people don't think it's worth it and as a result everyone gets poorer. Nobody wins in this environment as customers don't know that the costs of being licenced now is the main reason for the high costs due to "over regulation" (in my opinion). Yes, people were being "fleeced" in the past but those days are now over and customers need to realise that the ones who are still giving advice are following higher standards and ethics than before. https://www.afr.com//financial-advisers-quit-industry-afte

12.01.2022 Well it's another week of the Royal Commission into our Financial Services sector and more bizarre confessions have come out! Issues like CEO's telling subordinates not to have a "conscience" when it comes to "ripping off customers" (with both investments and insurance) to Boards that don't keep accurate minutes of meetings (which is illegal) because they were clearly afraid the "truth" would work against them and reduce their profits and bonuses. So whilst we should not be s...urprised about these actions, after all they are "like kids in a candy shop" (i.e. can't resist the temptation to steal as much for themselves as they can get away with), what continues to surprise me is that with greater ownership of these banks, by the average person (via our superannuation), we still have not done much to prevent these senior bank executives from paying themselves ridiculously high wages and bonuses? The fund managers have also clearly let us down by not exercising their "voting rights" to keep the Banks honest. Yes we need them but they are the leeches that suck out the life from the system and ultimately weaken our whole economic system because the important "Trust" has been broken. Now it will take a long time to heal this and everyone needs to remember the lessons being learnt and that true "independent advice" is more important than ever before. We have not tried to keep up with the excessive marketing efforts that the banks use because they have always had big budgets and glossy brochures but maybe now more people will realise that the small advice practices don't rely on market but the old spreading of "word of mouth" recommendations which fortunately costs very little. :) https://www.professionalplanner.com.au//banks-believed-i/ See more

12.01.2022 There is so much happening in our industry, with both advisers being banned and others simply giving up (2825 quit this year alone) due to very difficult trading conditions, that we can only wonder what the future of advice will be? We are still waiting for legislative changes due to the outcome of the Royal Commission into the Financial industry and it is clear most people are both "afraid" and "angry" to the point where many who need advice simply don't want to ask for it b...ecause they don't know or believe in the value. This is going to make everyone poorer because even good advice is not being given and fewer advisers can afford to continue to operate in this difficult market. What is needed is greater trust by customers that the remaining advisers are doing the right thing and confidence that even existing laws are already effective to protect you. http://riskinfo.com.au/news/2019//24/sam-henderson-banned/ See more

10.01.2022 This is why accountants need to reclaim their traditional rights of giving people unbiased advice based on a broad experience of investments and insurances. This was all hijacked by the greedy banks who carved out this niche of "advice" for themselves to make more profits and something the politicians should have been much wiser about because it seems they lost "common sense" and never heard of the warning about "leaving kids in a candy shop"! https://www.mybusiness.com.au//6395-pollies-most-unethical

09.01.2022 This is typical of either too much or too little government policies. Finding the balance is the key and we are still far from finding it. First its a free for all, where sharks make the majority look bad, then its the over reaction and laws that drives the costs even higher. So how can the remaining advisers stay in business when incomes fall and costs rise? Clearly Trust is the missing factor that ensures people are getting the value they deserve and seeking advisers who have not only experience but the proper ethics needed. https://www.nestegg.com.au//13606-super-members-need-advic

06.01.2022 Thought this article was very good reading to help convey the importance of living a balanced life! https://theheartysoul.com/doctor-learns-that-money-cant-b/