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We’re very fortunate to have experts in our network like James Wrigley – principal at First Financial.
James is one of 7 principals at First Financial, one of the largest non-bank owned or aligned financial planning firms in Melbourne. James has over 10 years experience and he shares with us some great insights into what it means to deliver constructive unbiased advice, and to help clients reach their financial goals.
In this 40 minute podcast James explains how First Financial has been an early adopter of the ‘fee for service’ advice model. The industry as a whole is moving this way, however First Financial was one of the first movers, and they have long championed now a model which is asset class agnostic, and very clean/ transparent from remuneration perspective.
Our topics discussed include:
- How James worked his way up to become the youngest principal at First Financial
- The two main groups of people James works with, and how he helps both to establish sensible plans for realising wealth objectives
- What it means to be a non-bank owned financial planning firm, and the benefits of this in the context of removing conflicts of interest
- Surprises from the Royal Commission, including how the financial planning industry perhaps got off a bit lightly
- Why 30 – 40 yr olds in accumulation phase may choose property over shares or managed funds, if seeking long term capital growth, as opposed to income
- The key question people should ask to determine whether or not they need financial planning advice….”what’s next?”
- What are ‘grandfathered commissions’, and why is the government keen to remove them following the Royal Commission?
- James’ first read on yesterday’s budget
There are financial planners in the market who are either not licensed to talk to clients about property, or they are biased against property because they do not make any money from recommending it. This is why it is important to find trusted advisers like James who put their clients’ interests rather than their own interests first.
Thanks for tuning in, and enjoy the show!
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If you have specific questions for myself or Patrick you can email hi@longproperty.com.au and we’ll respond within 24 hrs.
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The Long Property Show provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. Nothing in the Long Property Show constitutes legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances
