Have you suffered from poor financial advice?
The Financial Ombudsman Service (FOS) is a consumer friendly facility that allows aggrieved financial planning clients to recover losses from their advisers and financial services providers in a quick, cheap and simple forum.
FOS Australia is completely free to consumers, compared to tens of thousands of dollars for a court case.
One recent case we were involved in saw a major Australian bank forgive $320,000 of debt owed to it by our client and the clients receive an additional payment of $2,000.
FOS is a much better option than court.
It’s not unusual for Greg to sit down with a new client and look over their affairs and see they have received poor financial advice. Sometimes it’s just poor financial advice. But sometimes it’s more sinister, and he can see that the client has received advice that is patently negligent, and is not in their best interests or appropriate to their circumstances.
Common examples of negligent financial planning advice include:
- “switching” of insurance products to get new first year commissions (typically 120% of the premium you pay);
- recommending investment in off-the-plan apartments (and typically not disclosing conflicts of interest, i.e. hidden commissions);
- failing to recommend investments that are suited to the client’s risk profile, as understood by a reasonable financial planner;
- & failing to provide advice in the form required by the Corporations Act.
The good news is acumen advisers can get your money back for you.
Greg is expert at handling complaints by consumers to FOS. Combine this with Greg’s knowledge of financial planning and you can see how you can win compensation quickly and cheaply. FOS complaints do not have the complexity and stress of a court case. Most consumer complaints are settled in the consumer’s favour.
Greg’s fees for preparing and presenting a FOS complaint are usually tax deductible. We also offer generous payment terms for this type of work, as we do not want to add to your stress. If you feel you have suffered a financial loss contact Greg on Greg@acumenadvisers.com.au to discuss what can be done about FOS compensation, and rectification.
What our clients say
I found Greg to be a genuine, honest and helpful professional in resolving my future financial needs.
– Marcia, Blackheath.
Greg is extremely knowledgeable about financial planning and is exceptionally skilled at explaining financial concepts to the layperson. I have recommended Acumen Advisers to friends and colleagues.
– Name withheld, Health Professional, Mosman.
We have been clients of Greg’s for almost 20 years after one of us attended a seminar he gave on Taxation and Superannuation.
Greg has consistently prepared very detailed and appropriate financial plans for us. He has assisted us with legal work required due to our relationship and negotiated both sudden changes due to physical failings, and the vagaries of Centrelink (for this we are greatly appreciative). Greg has also given public lectures for our small community group, Friends of Auburn Library Services (FOALS).
However, the best advice Greg gave us was to travel (which we wanted to do) early, rather than wait until later, when we may not be able to physically. This has changed our lives, we have completed 7 cruises and 2 non-cruise holidays based on this advice, and his careful management of our financial situation.
We have no hesitation in recommending Greg as a Financial Adviser and as a friend.
– Hazel Labka, Retired Nurse Manager & Dr. Deborah Neyle, Retired University Lecturer, Auburn.
I have been a client of Acumen Advisers since 1997. Greg has the ability to explain financial concepts with exceptional clarity. I value the understanding he brings to my finances and his desire to ensure that the advice he provides is entirely appropriate to my circumstances.
– N. P-L, Retired Medical Professional, Woolwich.
Before I met with Greg I thought I was “too small” a client and wasn’t really sure whether a Financial Adviser could help me. However, I found him to be very honest and open and good to work with. His advice has suited my circumstances and I recommend him to my family and friends.
– A. Amor, Single Parent, Melbourne.
It was a pleasure to work with Greg Lucas of Acumen Advisers, firstly in a professional capacity through his workshop for members of our community on financial aspects in the transition to retirement, and secondly on my personal financial planning needs and aspirations.
Having heard somewhat negative comments about financial planners in the past, I had never approached anyone before, and I was somewhat nervous. But Greg’s professional approach left me with no concerns. He is not only well qualified and experienced, I also found his approach to be well considered and thoroughly professional. He answered all my questions with no hesitation, and went out of his way to find the best approach to financial and estate planning that fitted for me at this stage in my life. I certainly had no knowledge of some of the options he presented that were available to me.
It is a pleasure to work with Greg, and I am glad that I have his support and expertise to help guide my own transition to life after work (dare I say it – life in my older age).
– Peta Williams, Community Sector Manager, Musician & Composer, Springwood.
For anyone looking to retire or just worried about their future finances, I can highly recommend a chat Greg at Acumen Advisers. With friendly and clear advice they were efficient and so helpful, taking away any stress. Their follow-up gave me also, a great sense of a job well done.
– Jules Francois, Artist, Summer Hill.
I have been working with Greg Lucas for over 10 years. I highly value his advice and make sure to consult him before any major financial decisions. I am always impressed with his insight and perspective. His strategies are sound and give me confidence I am making good decisions. He also often thinks outside the square and suggests alternatives I would not have considered. I have no hesitation in saying that my financial position is significantly better as a result of Greg’s advice.
– K.Sykes, Marketing Consultant, Lane Cove