Luke Smith is a Platinum Adviser with 61 client reviews and an average customer rating of 99%. Luke is from Envision Financial in Canberra.
1. Best thing about being a financial adviser?
Being able to make a difference in someone’s life and to provide clarity so they can make an informed decision. You can count down to achieving a goal and know you were part of it.
2. One thing you would like to see improved or changed in the industry?
The constant state of change, we need consistency and some common sense, our industry has been in a state of flux for many years with changes occurring all the time. This worries consumers and can take the focus of client. Increasing administration just makes doing your job that much harder with little added value t the client.
3. The areas on their finances or economy that worry your clients the most?
Peoples ability to save and take advantage of superannuation. Clients are concerned that they are unable to build super quickly at a time that works best for them.
People are concerned about changes in legislation and the impact to them over time. This leads to concerns about cashflow, taxation and retirement income streams.
4. What's the strangest question a client has ever asked you?
How can I move overseas without my wife finding out?
5. If you could get three things into consumers' heads about what advisers do or don't do what would they be?
a) the majority of advisers’ care about what they do, it’s more than a job as we take on responsibilities and obligations that impact a range of people and this stays with us even after office hours
b) the comment ‘You don’t care it’s not your money’ could not be further from the truth
c) paying to attain information is better than trying and failing yourself. Its normally a lot cheaper and can save your relationship because it was not one parties fault.
6. How do you describe your job at BBQs?
I am a firefighter, I put out fires and help people see through the smoke
7. If you could get clients to do one thing it would be?
Pay the premium for your adult children’s personal insurance. Protecting their children would indirectly protect their retirement. The premium should be a lot cheaper than using pension drawings prevent a child losing their house because they didn’t think they would be unable to work at some point due to accident or illness.