Where to invest 600k

Because I am a lawyer, CTA, mortgage broker and a financial planner!!!

 

4 in 1. You must be a genius...
PS :
If there is more 4 in 1 up there, that may be another reason why planning industry does have a problem.

 

i don't understand your comment.

 

Few different diplomas held by one person may indicate that this person is below average in all those professions, unless the same person is a kind of "genius".
For example: Would you go to the surgeon who is at the same time the nurse, the hospital cleaner, the hospital administrator, the medical orderly, pharmacists etc...
How good this surgeon is?

 

A surgeon has multiple qualifications or 'diplomas' as you insultly refer to them.

You are implying I am below average in each of the fields I am qualified in. I specialise in estate planning which spans across law, fin planning, tax and finance. I don't know how it finance a boat. I don't know anything about defamation or tree disputess, I don't know anything about FBT and I don't know how to invest in options. But I know about asset protection, wills and estates and trusts and that is all I really want to know.

 

Insult has nothing to do with it.
It seems that you misunderstood what I said. Pity!

It's not for you to evaluate your qualifications/knowledge, but only for people who are dealing with you.
And that is a big difference between people's evaluation and your own opinion about yourself.

 

Yes thank you. Good to see you agree with me now.

 

Oh well....not to worry...

 

What total rubbish! Do you have any basis or evidence for this?

The difference between Terryw and your example is that all of Terryw's qualification as clearly closely related, yours are only remotely related.

For investors it is valuable if your advisor has experience across more than one area, as their advise can take more information into account. For example if one person only has qualifications in tax, they may tell you to sell you assets for tax reasons. Someone with experience in both tax and investment may tell you to hold your investment because they are in a good growth area, even though tax will impact their situation.

 

Each of these occupations (and similar to them) are so complex that one person may be reasonably good in one of them, or pretty average in all of them.

 

Like a postman. He cannot be good at both riding motorbikes and putting mail in letter boxes

 

This is exactly what I am trying to say.

 

Hmmm, I'm out of here...

 

Tropo,

You seriously have no idea.

Doesn't matter what industry you are in... There is going to be good and bad practice.

The financial planning industry is alienated due to a few 'bad apples' floating around in the press.. Obviously there are minimal positive stories floating around in the media as those stories dont sell. If there were not plenty of financial planners doing the right thing the industry would be dead.

The reality is that these days you cannot receive commission from superannuation or investment products so there is no incentive to provide anything but quality advice to a client. As an adviser you are paid fees directly from the client and if you want them to continue paying you need to ensure you can consistently show them benefit. I certainly don't make my income from a client upfront, it is by them continuing to pay me on an annual basis as they have seen the results.

I've worked in real estate, mortgage broking etc and I can certainly say there have been many more people doing the wrong thing in those industries but due to lack of supervison/consequence it goes relatively unnoticed.

 

I like your "bad apples" expression.
If you consider amount of unhappy customers in relation to happy financial planners (and the like...), you may discover, that positive ratio is not on the investors side.
Of course....there are exceptions. Even between "bad apples" you may find a golden pear (believe it or not...).
In case of supervision - it seems you forgot that...the fish stinks from the head down.
Anyway...Have a nice weekend.