What we do
“We help you to increase the certainty of achieving your life-style and financial objectives by helping you to ‘Get Your Financial House in Order’ and by providing advice tailored to your specific circumstances.”
—Fergus and Margaret—
Where we do it — PyrmontSince opening our doors in 2004, Pyrmont has been our chosen home to do business from. Pyrmont has a rich history of industry including, power generation, wool stores, railway yards and port facilities. The Colonial Sugar Refinery (CSR) refined and manufactured sugar and sugar by-products and distilled rum. Quarrying of sandstone was also an important industry, many older Sydney buildings are constructed from Pyrmont yellow block sandstone, including Sydney Town Hall, the University of Sydney, St Mary's and St Andrew's cathedrals, the GPO, the Great Synagogue, the Art Gallery of NSW and Customs House.
We love the old and the new that Pyrmont is and the sense of community that Pyrmont offers.
How we startedWe established FM Financial Solutions in 2004 as we wanted to design and deliver to our clients quality financial advice that was conflict free and without bias and hence solely in the best interests of our clients.
We started off being licenced through a small non-bank owned AFSL (Australian Financial Services Licensee), as this group gave us the freedom to provide ‘Independent’ advice in all but name.
Since opening our doors in 2004, we have always operated in line with the FOFA (Future of Financial Advice), reforms which became mandatory in 2013, and aimed at improving the financial planning industry after the scandals including Storm Financial.
How we became IndependentIn 2008 we applied for our own License to guarantee our independence, as the previous licencee was moving under the umbrella of a bank-owned AFSL.
Independent advice, free from any third-party influence or conflict or bias is, in our view, the only way to deliver quality advice and help clients achieve better financial and lifestyle outcomes.
Today, we operate as one of Australia’s few INDEPENDENT financial planning firms.
In fact, we exceed the minimum standards dictated by the Australian Securities and Investment Commission (ASIC) for a financial advisory firm to be called ‘independent’ as we are members of the IFAAA.
What Independence meansThe Corporations Act 2001 (Cth) prohibits financial services licensees from using the words ‘independent’, ‘impartial’ and ‘unbiased’ in relation to the business or service that the person provides, unless the licensee does not receive any:
- payments calculated on the basis of the volume of business the licensee places with an insurer: or
- other gifts that could be reasonably expected to influence the licensee.
Gold Standard of IndependenceThe three stars in the symbol represent the three criteria of the IFAAA Gold Standard Independence™ – no links to products manufacturers, no commissions, and no asset based fees. This is a Gold Standard for financial advice and the symbol represents trust and professionalism.
To ensure that there is not even a perception of influence from another party or a conflict, we have also made the decision to not accept hospitality including, Christmas Parties, invitations to sporting events and so on. This policy goes beyond the requirements of being an IFAAA Gold Standard of Independence™ Practicing Member.
Is good advice (that is in your best interests) all about fees?
In short NO, however we believe it is a very good starting point. A truly independent financial planner who is paid by you the client, is from day one committed to working in your best interest.
An independent financial planner thus comes from a position of looking for solutions to your complexity, rather than from a position of ‘selling’ you a financial product.
At the end of the day any prospective client should undertake their own due-diligence, ask questions and review existing client testimonials and feedback and be comfortable with the adviser whom they decide to engage. It is a big decision trusting someone with your financial future. We take it seriously and encourage prospective clients to do the same.
Our Guiding PrinciplesOur principles
We use the following guiding principles in our dealings with you, our client:
- We will only take you on as a client if we can genuinely help you and add value;
- We will only take you on as a client if we can enjoy our interactions with you, and there is mutual respect;
- We will tell you upfront when we are not able to assist you;
- We act in a way that is both highly ethical and legal;
- We treat you with respect;
- We treat you as an individual with your own particular needs;
- We act in your best interests;
- We act as fiduciary and respect the trust given by you, and never take it for granted;
- We take the utmost care when preparing our recommendations;
- We will be discrete and protect your privacy;
- We will work hard to increase the certainty of you achieving your objectives, and celebrate with you when you have achieved them.
Our servicesCash Management:
Increasing your savings and therefore your wealth.
Reducing the risks of illness, disability or death derailing your Plan, and your loved one's financial security and we reduce the cost to you as we do not take commissions.
Family Wealth Succession:
Increasing the certainty that your loved ones are financially cared for.
Developing appropriate courses of action designed to increase wealth.
Portfolio Construction & Management:
Building investment portfolios designed to generate REAL returns with less variability thus reducing capital loss, to provide greater certainty of outcome.
Selection of structures or entities to increase post tax returns.
NB: FM Financial Solutions takes your privacy seriously and therefore all client related information and related administration is kept ‘in-house’ . We do not outsource either directly or indirectly to overseas administration services.