If a career in financial services doesn’t work out for Paul Barrett then he could seemingly make a decent living as a chippie: he’s hit the nail on the head with his recent column about the affordability of financial advice.
Barrett argues that life, and finance, are complex and therefore financial advice is complex and has a price tag to reflect this. Rather than looking for ways to reduce the price of advice, the industry should revel in the complexity of the issues it solves for its clients and be unashamed about the cost of its services.
Of course, cost is half the equation. The other half is value. If consumers perceive value in something they will pay for it. But if they can’t perceive value, they’ll focus on the only number they can, which is the price.
ASIC levy blowout to hit financial advice cost
afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
Part Five: How the Guptas used their loot
dailymaverick.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailymaverick.co.za Daily Mail and Mail on Sunday newspapers.