Once upon a time there was an old fella who for over four decades provided advice on insurances & investments honestly, efficiently and fairly.
Then along came some people paid by the purse of his clients and others, with no experience whatsoever in this field.
They decided that other than looking your client in the eye, knowing them as friends, watching their kids grow up and sharing with each other, there needed to be a code of ethics. This would improve things for those clients of his.
So, those on salaries at his Licensee, Government , his professional association, the Tax Practitioner Board & the FASEA decided he needed a code of ethics. So, most of them individually wrote one for him.
He now spends nearly all of his time making sure he meets his obligations under every single one of those codes.
He has become distant from his clients. He no longer attends their weddings, children’s Christenings, birthday parties or funerals.
He is too busy trying to deliver his much valued services efficiently, although he always delivers them fairly and honestly.
He finds it hard to recall the personal details of the success that a client’s child may have had or that their spouse’s dad recently died.
He is far too busy in meetings covering his butt, making detailed notes about insignificant details that all of the aforesaid bodies deem important so that his file note passes the examination of people who have never been an adviser themselves.
He feels tired, exhausted even. His mental health his poor. His clients notice he has changed. He appears to worry more about himself these days than them.
He ponders the future, hourly, daily. He wonders why he still bothers, even after he passed the exam that he apparently shouldn’t have at his age.
He worries about the future of his clients. He knows his time left in their service is limited, as all the code setters want to see him gone.
He feels alone. Dis-respected. But he soldiers on for now. His clients need him to.
In order to give you the best site experience, we need to know what kind of investor you are. Please select the title that best describes you below.
Financial Advisers - Investment
Financial Advisers - SMSFs
Individual Investors with SMSFs
Financial Advisers - Insurance
Accountants and Solicitors
Financial Services Professional