There is a change in how financial advisers (Velocity included) are about to be regulated. Graham explains why this is a great thing.
One of the key issues in the world of financial advising is, and has always been, the lack of complete disclosure around how much people get paid and by whom. There has been plenty of talk around this.
Velocity decided from day one that we would always be utterly transparent around commission payments because we think that’s how business should be done. No one likes surprises, unless it’s your birthday and, even then, not always.
We include these commission figures in our initial discussions with all clients.
I’m quietly hoping that banks will soon have to disclose sales targets and incentives for staff … but … I doubt it.
The good news is that with the upcoming regulation changes in our industry there is a continual emphasis on good disclosure, good training, and, ultimately, an attempt to make things clearer and simpler for you, the consumer.
What it means for Velocity? Just more of the same!
Graham Goodisson is a Registered Financial Adviser with Velocity Financial. No investment decision should be taken based on the information in this blog alone. A disclosure statement is available free of charge upon request.