Paul Benson
speaker
378 appearances
1 recordings
1 series
first heard Mar 2021
last heard Mar 2021
Paul Benson’s voice in public audio — every appearance, attributed to the second.
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Appearances
but it could be 600 or it could be, you know, 50,000, right?
Well, as a planner, that's not really what we want because I want to try and have the highest probability of hitting your goal.
And so that's where typically you want to diversify and that's where ETFs and funds and that sort of thing are usually better.
The individual stocks often, it's more about a bit of a personal interest, you know, a bit of a hobby.
There's not actually, in a financial planning context, there's not really a need to go individual stocks, but often people just like it just because it's
fun and interesting and they want to follow particular companies and that's cool.
You know, that's fair enough.
If that's what people want to do, we can help them for that for sure.
Yeah, and just because they might have anywhere from 100 to thousands of different shares, then you know you're going to get the average return, which is much more predictable.
Sure.
So,
I guess often you might ask for some recommendations or you might Google or whatever to, I guess, get some initial candidates.
But a really important first step is ASIC has a register of licensed financial advisors in Australia.
Before, you know, if you find them on the web or whatever, first thing is just check that register and check that they are actually licensed, right?
Because unfortunately, and there's that odd situation of that,
lady up in New South Wales recently, you know, kind of foot or something, it's weird.
You know, the initial reports were she's a financial advisor and unfortunately they corrected that because she wasn't, she wasn't licensed at all.
But she presented to people that she was and effectively she stole their money, right?
So you want to make sure they're licensed because if they're licensed, then they're getting annual audits, they've got professional indemnity insurance, they've got ongoing education requirements, they've got to pass an exam to have been licensed in the first place, right?
There's a whole lot of hurdles.
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