Plenary Wealth has produced a 10-point check-list document to educate consumers about whether the financial advice they are receiving is “good, bad or ugly”.
The North Sydney-based firm, which was named Next Gen Practice of the Year 2016 within the Fortnum Private Wealth network, has been publicising the initiative on social media platforms alongside a statement suggesting it is “time to cull some advisers”.
“Financial advisers vary widely in quality, professionalism and ethics,” the document asserts. “Use this checklist to ensure you’re dealing with a quality adviser.”
Scenario-based examples of “good”, “bad” and “ugly” practitioners are offered across 10 separate assessment criteria, including presentation skills, decision-making style, communication mode and method, transparency and research.