Transport operators urged to seek financial guidance from younger advisors that can cater for future generations
Ruza Zivkusic-Aftasi | June 25, 2012
Transport operators are urged to seek financial guidance from younger advisors that can cater for future generations.
UBS Wealth Management Director Simon Harradence, who spoke at the Transport Women Australia’s conference in Melbourne, believes continuation of work between generations is necessary for a business to survive, with operators profiting from advisors who can survive them.
“It’s really important to invest in this long term. It is very helpful if you have an advisor that can engage the generation that comes after you so you can start thinking about facilitating the investment strategy and assets,” Harradence says.
“It’s important that the advisor you are talking to…is going to survive you and you know is going to look after your children or whoever your beneficiaries are afterwards.”
One also needs to consider the reputation of an advisor and find the right company that prioritises smaller clients, he adds.
“If you have simple affairs and medium sized assets, have a look at an advisor that manages small groups of clients because at the top of the list they will prioritise you,” Harradence says.
“Make sure their skill set is relevant as some people make a big mistake trying to go for the biggest and the best, ending up at the bottom of the client list.”
