Royal Commission – Asleep at the Wheel?

With the Banking Royal Commission in full swing, the spotlight is squarely on financial services regulators. Future Fund chairman and former federal treasurer, Peter Costello, stated it plainly: “The next step of the royal commission is to actually find out why the regulatory agencies weren’t awake and at the wheel.1

This raises an interesting point – should we rely on regulators to drive us where we need to go, or should we plan our trip and take control of that wheel?

We firmly believe in having our eyes on the road ahead and taking responsibility for our journey. This means aiming for a standard of excellence, rather than settling for the bare minimum. Simply following the lowest standard set by legislation would be more like driving with our eyes stuck on the rear-view mirror!

How, then, do we ensure that we are seeking best practice and performing at the highest possible standard?

Alman Partners is one of only six Australian firms to be certified by the Centre for Fiduciary Excellence (CEFEX). As a highly regarded global quality assurance organisation, CEFEX requires firms to meet rigid criteria across all facets of their business. By choosing to be CEFEX certified, we willingly open our doors to a rigorous audit each year.

What does this mean for our clients?
Overwhelmingly, individuals and families are seeking peace of mind – they want to be able to completely trust their adviser. Our CEFEX certification guarantees to our clients that they can trust us implicitly. We offer our clients a higher degree of transparency, in an industry which is often seen to be murky at best.

This video explains the benefits of using a CEFEX certified adviser.

While this may not attract headlines, and it is certainly not controversial, our clients can rest assured that we are focused on the road ahead. We have a responsibility to place our clients first, and are always looking at improvements we can make – even if they are some distance down the road.

“A driver reaches a destination by driving on that road, not by laying back to enjoy the view.”
Nabil N. Jamal

Karlee Hoog-Antink, ADFP, Alman Partners Pty Ltd, Australian Financial Services Licence No: 222107.

Note: This material is provided for information only. No account has been taken of the objectives, financial situation or needs of any particular person or entity. Accordingly, to the extent that this material may constitute general financial product advice, investors should, before acting on the advice, consider the appropriateness of the advice, having regard to the investor’s objectives, financial situation and needs. This is not an offer or recommendation to buy or sell securities or other financial products, nor a solicitation for deposits or other business, whether directly or indirectly.

1 https://www.smh.com.au/business/banking-and-finance/asleep-at-the-wheel-peter-costello-slams-regulators-over-royal-commission-revelations-20180829-p500ft.html