The Financial Services Industry
The financial services industry in Australia is dominated by a handful of large financial groups that operate within a company group.
Typically within these company groups one company typically manufactures investment, insurance and administration products which are then sold by advisers employed by another company within the group to consumers.
Most financial advisers in Australia operate within this environment.
At Private Capital Advisers we believe that this model should be reversed, so that:
- It is the clients who seek to engage the services of an adviser
- This adviser is engaged to deliver financial advice that is tailored to the client, without being restricted to only recommending products that are manufactured by the Advisers employer.
The distinction between our approach and that of the majority of the industry can be best illustrated as follows: