Independence

Blackbird Wealth Management is Wagga’s only independent financial planning business.

In Australia, the designation of being an “independent” Financial Adviser or Financial Planner carries significant weight, as it signifies adherence to stringent legislative requirements aimed at ensuring impartiality and client-focused service. An Adviser can only be classified as independent if they meet specific criteria outlined by the Corporations Act.

To be classified as independent, an Adviser must operate free from any associations or affiliations with financial institutions or product providers that could influence their advice. As well as this, there must be no commissions, no volume-based payments, no percentage-based fees, no gifts and any other incentives that may create conflicts of interest.

Independent Advisers must not receive any remuneration other than that paid by their clients in the form of fees for service. This requirement ensures that their recommendations are solely based on what is in the best interest of their clients, rather than being influenced by external factors. Independent Advisers are mandated to provide transparent and comprehensive advice, disclosing all potential conflicts of interest and ensuring that clients are fully informed about the nature of the services provided and any associated costs.

Choosing an independent Adviser over one who does not meet the legislative criteria ensures that you are receiving unbiased, client-centric advice tailored to your individual needs and financial goals.

To further demonstrate our commitment to independence, Graham Cotter is also an associate member of the Profession of Independent Financial Advisers (www.pifa.org.au) and a member of the Certified Independent Financial Advisers Association Limited (www.cifaa.asn.au).