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If you believe the rhetoric coming from the industry funds, they would have you believe Financial Planners don't want to work with them, because we are greedy, commission taking middle men/women, who care only for ourselves. I'm sure we've all heard this type of line trotted out through advertising and/or interaction with a fund itself. But could there be another reason? One where you're interests are being looked after? The following example may provide some insight into why Financial Planners don't like Industry Funds.
Chronology of Events:
Moreover, the client then received an email directly, espousing the virtues of the Industry Fund and
"We recently received a request from your financial adviser to access your account information. It's fantastic that you’re taking a keen interest in your superannuation and general finances and we will work with your adviser to provide any requested information."
So far so good. This sounds pretty positive. But then "Many of ......’s advisers have worked in the industry for over 15 years and are not paid commissions, so you can be sure that their recommendations are in your best interests. Our team of financial advisers operates Australia-wide. Please contact .... Advice if you would like to arrange an appointment with a .... financial adviser"
I'm sorry, but this doesn't sound like an organization trying to work with the client's financial planner. This sounds like a marketing arm trying to cast dispersion on the client's financial planner to try and win business for their own financial planning business. If I was being suspicious, I might also think that they want the client to leave their financial planner so that they don't have to answer uncomfortable questions about stuffing up their contribution strategy. Either way, I don't see how their actions in trying to 'win' a client away from a competent adviser who is acting professionally for their client can possibly be in the clients best interest?
This is just one of many examples of why a professional financial planner may not like dealing with Industry Funds. They don't communicate with us, they ignore instructions, they try to overcome shortcomings by directly marketing to the client, they try to break the client/planner relationship etc etc. Why oh why wouldn't we want to work with organisations like that?