As you have probably heard, a banking royal commission is being held to investigate the financial advice industry after the big four banks and AMP were accused of malpractice. The aim of the royal commission is to find out just how widespread the issue is and to raise standards in the financial services industry.
At Tribeca, we believe that the royal commission is a step in the right direction for financial advice and hope that it will bring about much needed change to the industry.
When Ryan Merrett and I started Tribeca, it was the disdain we had for the industry that made us want to be different. Tribeca was built with the vision of making a positive change in the financial services industry. We have numerous policies, procedures and staff in place to ensure that we remain the ethical and accountable company that we have always been.
Currently, the base level and requirements for becoming an Adviser are much lower than any other industry, with any individual able to complete a quick course and become an Adviser in well under a year. In comparison, all our Advisers are qualified with a university degree and trained extensively before ever handling clients’ finances.
We believe that the most important aspect of financial advice is the relationship between a client and their Adviser. If you’re seeing an Adviser, the only way to ensure that you are getting the advice you desire is to be involved in the entire advice process. This is why we include our clients in all decisions, keeping them informed every step of the way.
From day one, we structured Tribeca to make ourselves accountable for our clients’ quantitative and qualitative goals. This means that rather than basing our advice off a dollar sign, we use emotional intelligence to consider what our clients want from life.
We help clients understand their ‘four L’s’ – Life, Love, Learn and Legacy – so that they can build goals that will leave them truly happy and fulfilled. We assess where our clients want to be in both three and ten years’ time. From here, we’re able to create a financial roadmap that both ourselves – and our clients – are accountable for, allowing them to live their Good Life.
The values our company was built upon – Respect, Innovation, Commitment, Honesty and Empathy – are displayed in every choice we make for our clients.
At Tribeca, we’re our clients’ champions. So, while many in the industry reel from the reforms to come, we will continue to do what we always have – act in our clients’ best interests and help them reach their Good Life.
– Ryan Watson, Tribeca Financial CEO