# Asset allocation?



## money tree (19 January 2005)

hi everyone

Just wondering what I should do with my money. 

What stocks, sectors, markets etc would you invest in. Real estate, stocks, bonds, art, currencies, term deposits etc?


----------



## DTM (19 January 2005)

*Re: Asset allocation ??*

We could have a big party!!!

 :bier:


----------



## doctorj (19 January 2005)

*Re: Asset allocation ??*

I'd recommend doing your own research and strongly warn your good self and everyone else that happens to be reading this against following advice online and indeed from anyone who's not a reputable and accredited financial planner.  These financial planners are experienced in dealing with situations such as yours and will work to do such things as minimise your tax liability and tailor your investments to your specific financial circumstances.  Such things, even if we could advise you are clearly beyond the scope of this forum.

Financial Planners are nothing to be afraid of.  Infact, if you have your accounts with the Commonwealth Bank, they offer a free financial planner to meet you in the branch.  Head in to your local branch to make an appointment at a mutually convenient time.  Many other banks probably offer a similar service.


----------



## wayneL (19 January 2005)

*Re: Asset allocation ??*



			
				doctorj said:
			
		

> I'd recommend doing your own research and strongly warn your good self and everyone else that happens to be reading this against following advice online....




Great advice!



> and indeed from anyone who's not a reputable and accredited financial planner.  These financial planners are experienced in dealing with situations such as yours and will work to do such things as minimise your tax liability and tailor your investments to your specific financial circumstances.  Such things, even if we could advise you are clearly beyond the scope of this forum.
> 
> Financial Planners are nothing to be afraid of.  Infact, if you have your accounts with the Commonwealth Bank, they offer a free financial planner to meet you in the branch.  Head in to your local branch to make an appointment at a mutually convenient time.  Many other banks probably offer a similar service.




Terrible advise! See first part of quote.

I know that seems terribly rude and I apologise. But in most cases financial planners are nothing more than commission salesman who will direct their clients to investments where the planner benefits most, not the client.

I think the hardest thing in the world is finding and "independant" and competant financial planner. However it is not impossible and if you feel the need to use one, good luck.

My strong advise to you is echoing the docs first sentence and never listen to advise you find on a forum...especially mine.

But do your own research.

Apologies again to doctorj.

Cheers


----------



## doctorj (19 January 2005)

*Re: Asset allocation ??*

I'm as thick skinned as they come, no offence taken.  I wouldn't say my advice to seek advice was terrible, though the omission of independance was notable.

That said, any financial planner you go to, in addition to being accredited as a financial planner, should also be accredited under the requirements of the Financial Services Reform Act.  Part of the FSRA requires them to disclose information regarding their renumeration.  Having used them, I can assure you the CBA FP's are not paid on a commission basis, but may receive bonuses for meeting sales targets and other key performance indicators.  These bonuses are not linked to the funds you end up investing with after consulting with their advice.

As Wayne pointed out, it is very difficult to find a truely independent advisor. Advisors working for reputable companies will have the list of available options they are able to present to you as alternatives vetted.  This vetting occurs generally to limit their risk - they will not recommend a fund that is managed by a company that is not well known and highly regarded.  They do this to protect their brand and their reputation.  It is this process of vetting that compromises their independence.


----------

