Get the attention you deserve!
Written and accurate as at: Sep 24, 2019 Current Stats & Facts
The big banks seem to be getting out of the business of providing financial advice.
After the shocking revelations of the Banking Royal Commission earlier this year, ANZ and Westpac have already reduced, sold or shut their financial planning departments. NAB and Commonwealth are diverting all their efforts into re-mediating clients before assessing their response. AMP have plans to drastically reduce their adviser numbers.
The established practise of leveraging their position of trust to use their advisers to funnel money into their own in-house insurance, super and pension products has been called out and laid bare. The damage to their reputations from the revelations that they’ve been charging ongoing service fees and often not providing ongoing service has been immense in the so called ‘fees for no service’ saga. Banks are paying clients back hundreds of millions of dollars and totally rethinking their involvement in the provision of financial advice.
Our observation is that the provision of highly personalised advice and the long-term partnership required on the journey towards financial freedom and an independent retirement is something best undertaken by a small business where the staff are long term and the relationship is personal. The big institutions should be the ones providing the actual products and handling the money as that is where their size does matter.
Eclipse Financial Services was founded back in 2003 by experienced bank financial advisers who could see the writing on the wall even back then. Founder and former Westpac Senior Financial Planner for the Mackay area Justin Butler quoted ‘No matter how many existing clients I had; the bank just wanted more new clients every year?’. Eclipse was founded on the ethos of respecting client’s decisions to allow us to guide them through their financial lives and having a broad choice of well-respected product providers to select from as required. We have three experienced, committed advisors working with clients from our offices in Bowen, Proserpine and Airlie Beach as well as South East Queensland. We pride ourselves on keeping in touch and sitting down with clients one on one to review their progress toward their goals at least once a year.
If you don’t think you’re getting the attention you deserve, contact us for a cost and obligation free discussion and review of your existing situation and plans.
For a free consultation with local people who understand the complexities of these or any other financial matter, contact Eclipse Financial Services on 49467359 or 1300 857359 today or visit www.eclipsefs.com We’ll even shout the coffee!
