Hey wealthcreator, sorry i took your comments the wrong way, i...

Hey wealthcreator, sorry i took your comments the wrong way, i agree whole heartedly on you smsf comments well said., as for your response to lindso, this is the same points that really annoys me about the industry.
"insufficient monitoring of the clients investments, rather it's a "invest the capital in this balanced or assertive fund and then review it twelve months later."

wealthcreator "In the short time I was involved in the industry I saw some absolutely disgusting things,"

thats the sad part the industry does not want to confront i know several retired people whose net worth is yet to recover from the market highs who lost a lot of money which i find staggering compared to if they held shares in the asx10, asx 50, asx 100, even a stupid one portfolio stock of bhp 5 years from the 30/06/2006 would be sitting on a capital gain of 50%, compare that to a fund, even if the people i know put their money in a bank at fluctuating interests rates they would have been better off (these people are not my family). Its a very sad indictement on the industry profiting on the losses of others.

one female retirer with a low risk profile i know was smart enough to change to cash with her super fund before the gfc hit, she still lost money, what tha, how? interest rates went up she was in a cash fund, she did not understand what she was invested in the advisor got paid the financial industry got paid she lost.


As you said wealthcreator "it would have to be a very astute and genuine FP who would be managing my money"

Hey lindso How do you find the good from the bad?? when 90% are bad, when you do not have a couple of million to invest

As i have stated before, i am willing to pay for more complex strategies, which i do not have the time or inclination to pursue, but for my payment i want a return if you fail you should not be paid,

just like getting a mechanic to fix your car but who creates more problems why should he be paid, the law would be on my side in that scenario, WHY NOT with the financial industry