Our Adviser Profile this week is Andrew McPherson, a Gold adviser with 33 client reviews with an average client rating of 97%. Andrew is a Senior Financial Adviser at Tribeca Financial, which operates from St Kilda Road in Melbourne.
- Best thing about being a financial adviser?
The long term trusted relationships and friendships we are fortunate enough to build with our clients. It is really rewarding when you catch up with a long-term client who has followed your advice and is truly appreciative of helping them create a better life. The conversation changes from one of concern and worry about their money and financial future to discussion about their successes, adventures, travels, significant life changes and plans for future or what we term their ‘good life’. That is why I love helping my clients through positive financial advice, to help them discover and create their own ‘good life’.
- One thing you would like to see improved or changed in the industry?
A clear, transparent, singular message in relation to superannuation and its purpose. The recent legislation changes were a perfect opportunity to convey this message to the general population, particularly younger generations who often comment that they have no trust in superannuation and therefore are reluctant to make additional contributions that will benefit them in the long term.
- The areas on their finances or economy that worry your clients the most?
Longevity of their money in retirement, especially with interest rates pushing down returns on savings accounts, term deposits and bonds as well as the general uncertainty around global economics.
- What's the strangest question a client has ever asked you?
While not exactly strange, I’m often surprised by the questions asked by smart, savvy business owners and remember one example where a successful client asked what ‘blue chip’ shares were and how a basic mortgage offset account worked. It really reaffirms that you should never assume what a client does or doesn’t know.
- If you could get three things into consumers' heads about what advisers do or don't do what would they be?
a) We help our clients create good cash flow habits because we believe that strong cash flow management is the key to creating long term wealth.
b) We help our clients clarify, understand and prioritise the life goals that are important to them so they are able live their ‘good life’.
c) We are not stock brokers and do not watch the share market daily or have the next hot stock tip. We help our clients create long term wealth through sound planning and appropriate allocation to different asset classes.
- How do you describe your job at BBQs?
We work with our clients to improve their financial wellbeing so they spend less time worrying about money and more time on the things most important to them.
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