Frequently asked questions

Do you receive any financial incentives for selling certain financial products?

No. As outlined on my website here, I have been operating under a fee for service model since 2002. I am not paid commissions from any of the products that are included in my recommended strategies, including insurance products.

Do you receive any financial payments from other professionals e.g. lawyers, accountants for referring me to them?

I do not have any reciprocal paid referral relationships with any other professionals. I will not receive any payments from other sources as a result of you being my client.

What fees are charged by you after the initial advice?

I will charge a fee for the development of your financial strategy and the preparation of your SOA. I will provide a written quote for this prior to the commencement of any work. I will also provide a quote for the implementation of your SOA however you are welcome to complete the implementation work yourself. I will provide comprehensive instructions. After the initial advice and implementation no further fees will be charged if you do not wish to access ongoing support.

Am I able to access ongoing support?

My regular client relationships revolve around clients keeping me updated with any significant changes that may have occurred for them and which may affect their financial future but in most cases I do not charge any ongoing fees. I only charge when advice is required. A small number of my clients engage me to review their situation on an ongoing basis. If you require a review meeting or the preparation of further advice there will be an additional fee which we will discuss on an as-needed basis.

Who provides you with your license to operate?

My company CTWealth Pty Ltd is a corporate authorised representative of MFG Advice Pty Ltd. An extract from the ASIC register about this can be found here. 

What is MFG Advice’s role in your business

MFG Advice provides the technical infrastructure for my practice including my approved product list, research on advised products and compliance oversight.  Other services they provide to my business include CPD and training, revenue management and professional indemnity insurance. They provide support around compliance guidelines and processes to ensure I can meet all of my legal and regulatory obligations.

Do you have an approved product list?

MFG Advice operates a broad approved product list based on Morningstar research. It includes all common super funds including Australian Super, HOSTPlus, Sunsuper, PSS, CSS, PSSap and QSuper. It also includes a very comprehensive range of investment platforms. Most clients for whom I provide advice find that the products in which they are currently invested or they would like to invest are on the MFG approved product list.

Have you or MFG Advice Pty Ltd ever received disciplinary infractions for unlawful or unethical actions?

No.

Do you undertake ongoing professional development?

As part of staying up to date with regulatory and industry changes, I am required to undertake at least 40 continuing professional development (CPD) hours per year. These are gained by a combination of attending regular industry technical sessions and undertaking structured ongoing technical training.

Are you a Certified Financial Planner?

Yes. Confirmation of my registration as a CFP can be found here on the Financial Planning Association of Australia website.

What qualifications do you have?

I have a Bachelor of Business majoring in accounting. I also have a Graduate Diploma in Applied Finance and Investment and a Graduate Diploma in Financial Planning from the Securities Institute of Australia.

Are you a fiduciary?

The Australian Securities and Investments Commission website has some useful information about advisers meeting best interests or fiduciary duty here. All financial advisers have strict obligations to act in their clients’ best interests and my practice is compliant with these obligations at all times.

Are you a member of the Tax Practitioners Board.

Yes. Confirmation of my registration as a tax (financial) adviser can be found here on the Tax Practitioner Board website.