ADVICE

Where do you go these days for general advice that (a) doesn't cost you the earth and (b) hasn't someone on the other end with an axe to grind? Again how do you separate Financial Advice, Legal Advice and Consumer Advice?
Things are getting a trifle complex for Mr. & Mrs. Average who spend the bulk of their time making an honest living and raising a family to do likewise. They usually don't have the time or inclination to read up all the current available literature. However when a sudden emergency arises, who are they to turn to. I've been asked all sorts of questions - some relatively easy to answer but some really curly ones that over stretch the memory banks and resources.
For instance, one couple came to me who were leasing glasshouses and having hassles with the landlord. Their Solicitor recommended court action but with lack of montary resources to pay legal expenses they could well end up flat broke. So they were directed to the Family Court to endeavour to have the matter sorted out amicably.
Another couple wanted to know whether they could afford to separate. I did individual feasibility budgets on the computer but with the extra expenditure on one income each revealed an unhealthy shortfall. I then asked if I could do a combined one and even though finances were the problem, up came a healthy surplus. My instant advice was, "Why not stick together and sink your differences?"
Those appoaching retirement usually come up with a spate of queries. It's going to be a totally new ball game so shall we sell the big house and purchase a unit or beach house. Shall we invest the maturity proceeds of our Life Policy or clear the house mortgage? Investment advice is a hardy annual. There is such a variety available with so many institutions competing for the surplus dollar that it can be confusing to the uninitiated.
I have a few basic rules I endeavour to abide by:
1. I remind myself that I am operating under a legal "Duty of Care", thus I can be accountable for the advice I give.
2. I try not to give generalised advice without seeing the present financial situation in toto. So often the gut feeling advice would be inadequate when the present financial situation demands another course of action.
3. I endeavour to bat ideas around showing the reactions and possible results of certain courses of action.
4. Ultimately I say, "It's totally up to you now - you've heard the pros and cons - you choose!"
So, if you can find a financial advisor who has a wide knowledge, political skill and above all moral credibility, my advice is to listen carefully, weigh up the pros and cons then make your final decision. Proverbs 12:15 has the last word, "The way of a fool seems right to him but a wise man listens to advice."