Welcome to our
Spring Newsletter
In this quarter's
edition you will discover:
- Employee of the Month Profile - Tina Barker
- Meet iPlan's newest staff members - Lauren, Scott and Michelle
- Beware of Scams - A true story!
- Expand your Horizons - Motherhood - What a Glorious Career!
- The Meltdown Scorecard - an overview of recent collapses and bailouts
- Testimonial from Michael and Cassie Manago, happy iPlan clients of 2.5 years
- Q&A - Dollar Cost Averaging
Beware of Scams - A True Story
Last week I was informed of a very recent SCAM – it is a true story. A certain individual advised that he was contacted out of the blue by Commodity Traders in Switzerland. They sounded professional, had a very professional website and appeared to have all the Swis s legislative requirements in place. After significant research, he decided it was all legitimate and decided to invest and start trading. He was set up with password protected accounts and over the course of the next few months the profits grew and so did his personal contributions to the portfolio. He, acting on their advice more than doubled his money over this time until it was in excess of six figures.
Then it all came unstuck. Firstly, overnight the brokers ceased to answer the phone or return his emails and secondly, his trading accounts froze. Frantic he tried to contact Swiss authorities to find out what was going on – they had never heard of the company and certainly not listed with government bodies over there – he now realises it was a scam and he has lost the lot. He has since contacted the police and ASIC but is informed that there is not much they can do.
What could he have done in the first place to have helped prevent this?
Step 1.
A key question to have asked is “What is your Australian Financial Services License (AFSL) number?”. If they have one it means they have gone through some rigorous checks and balances and are registered with the Australian Securities and Investment Commission (ASIC) and subject to Australian Law.
Step 2.
Next confirm the number actually exists with ASIC before going any further: http://www.search.asic.gov.au/fsr/flb.html
Step 3.
Please check with a trusted adviser (your Financial Adviser?) before going any further.
Personal Experience
Not so long ago I was also personally contacted by phone from an ‘international’ stock trader. It was very professional, sounded plausible, not too good too be true and after 15 minutes, suspecting it may be a scam, I requested the AFSL number. He assured me they had one and would ring back with it. Well, he rang back alright, at least 4 times, and each time he never had the number but continued with his spiel, and again I requested it. Eventually he gave up when I told him not to bother calling unless he had the number. It was another SCAM.
Grant Loechel
iPlan Senior Financial Adviser
Masters F.P., CFP, JP (Qual)
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Motherhood - What a Glorious Career!
A woman, renewing her driver's license at the RTA and was asked by the woman serving her what was her occupation. She hesitated, uncertain how to classify herself.
"What I mean is," explained the woman, "do you have a job or are you just a..?"
"Of course I have a job", snapped the woman, "I'm a Mum".
"We don't list 'Mum' as an occupation, housewife covers it" said the woman emphatically.
I forgot all about her story until one day I found myself in the same situation, this time at our own RTA office. The clerk was obviously a career woman, poised, efficient, and possessed of a high sounding title like, "Official Interrogator".
"What is your occupation?" she probed.
What made me say it? I do not know. The words simply popped out.
"I'm a Research Associate in the field of Child Development and Human Relations."
The clerk paused, ball-point pen frozen in midair and looked up as though she had not heard right. I repeated the title slowly emphasising the most significant words. Then I stared in wonder as my pronouncement was written, in bold black ink on the official questionnaire.
"Might I ask," said the clerk with new interest, "just what do you do in your field?"
Coolly, without any trace of fluster in my voice, I heard myself reply, "I have a continuing program of research, (What mother doesn't) in the laboratory and in the field," (normally I would have said indoors and out.) I'm working for my Masters, (first the Lord and then the whole family) and already have four credits" (all daughters)."
"Of course the job is one of the most demanding in the humanities, (any mother care to disagree?)I often work 14 hours a day, (24 is more like it). The job is more challenging than most run-of the-mill careers and the rewards are more of satisfaction rather than money".
There was an increasing note of respect in the clerk's voice as she completed the form and personally ushered me to the door. As I drove into our driveway, buoyed up by my glamorous new career, I was greeted by my lab assistants - ages 13, 7, and 3. Upstairs I could hear our new experimental model (our six month old baby) in the child development program, testing out a new vocal pattern. I felt I had scored a beat on bureaucracy! And I had gone on the official records as someone more distinguished and indispensable to mankind than 'just another Mum'.
Motherhood! What a glorious career. Especially, when there's a title on the door. Does this make Grandmothers 'Senior Research Associates in the field of Child Development and Human Relations?' and Great Grandmothers 'Executive Senior Research Associates'? I think so!
-Anonymous Mother aka Research Associate |
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DID YOU KNOW?
Demand for financial planners is set to increase by 55% within five years!
A survey conducted by the Financial Planning Association (FPA) has found that the demand for both financial planners and para planners is set to increase substantially over the next five years, to service the rising consumer demand for professional advice.
View the full media release here. |
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Information
Snippet
| Do you know someone who is looking for the right loan? |
Finding the right loan can be a very confusing and time consuming process. iPlan can find the right loan from our panel of lenders covering:
- Home loans
- Owner occupied and investment
- Re-financing and debt consolidation
- Commercial finance
- Debt reduction strategies
- Leasing
- Commercial hire purchase
- Chattel loans (motor vehicle and business equipment)
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Encourage your friends and family to use a mortgage broker. The loan that your broker arranges for you, may not suit them as their financial circumstances may be different.
For more information, contact iPlan's Lending Manager, Ian King on
07 3371 4555 or
0401 444 484
iking@iplan.net.au.
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To John Horgan and the staff at iPlan,
Well what a whirlwind the past 2.5 years has been since we joined iPlan. We have to say that we were very dubious at first but continued with iPlan because a very close family friend recommended you so highly. Let us just say that we are so glad we did.
I am sure John you must have wondered after all those initial meetings as to whether Cassie and I would ever come on board. But all your reassurance and guidance has changed the way we think. Even though we were progressing very slowly with our mortgage set up at the time, we felt fairly secure.
However, when you explained what iPlan does and ran a few figures, it all seemed too good to be true. We decided to take that leap of faith and continue with iPlan. We signed up and we can honestly say we have never looked back. We can’t believe that we are paying off our mortgage faster than ever and building a successful investment portfolio at the same time and, what’s best of all, our lifestyle did not have to change!
We were very quiet about our financial move with family and friends initially, however as the monthly statements kept coming in, we found it harder & harder to keep quiet. We now let everyone know how good iPlan’s process is and when my family and friends query me, we have the evidence in black and white.
Thank you so much iPlan for all of your assistance. Our only regret now is that we did not find out about iPlan sooner.
Regards,
What is dollar cost averaging (DCA) and how might it benefit me?
Dollar cost averaging is the practice of investing small amounts in assets over a long period of time, spreading the cost basis out and providing insulation against changes in market price.The investor would use the same amount of money each period to buy units in a fund, no matter where the prices are. When unit prices are low, an investor would buy more units. When prices are high, the investor's money buys fewer units. Over the long run, it will average out. Additionally, a savvy investor is aware that dollar cost averaging doesn't always guarantee a profit, instead it can smooth out the market's ups and downs (volatility) and may help reduce the risk of loss. For more information on this, don't hesitate to contact your adviser.
Got a question you would like answered in our next edition? Please email your questions to info@iplan.net.au, or why not phone your adviser directly!
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Staff Profile:
Tina Barker
Employee of the Month -
August 2008
Why did you join iPlan?
I was unhappy in my position with Commonwealth Bank and David Ward (our adviser) suggested there might be a position to suit me at iPlan!
How long have you been working in the Financial Services Industry?
Over my working life - on and off for about 8 years.
What is your position at iPlan and what do you do?
Administration Support. I provide administrative support to your Adviser Administrators.
How do you feel about being iPlan's Employee of the Month?
Overwhelmed!
What did you do before iPlan?
Before my short employment with CBA, I was a Family Day Care provider for 17 years.
Do you have any children/grandchildren?
Yes. Our daughter lives and works in Melbourne and our son is studying at UQ.
What is your favourite book/movie? Why?
“Thorn Birds" by Colleen McCullough - I read it so often that I wore out 3 copies of the book!
What is your favourite quote? Why?
“Bring honour upon your family" - something my grandmother said to all her children and grandchildren...and it has always stuck with me. Now I say it to my own children!
Who is your favourite actor?
I don't have one.
What is your favourite food?
Winter soups.
What sport do you follow and who is your favourite team?
I don't follow a particular sport or team.
What are your hobbies and interests outside work?
Spending time with family and friends and going to the gym.
Click image for Larger Version
Meet iPlan's New Staff Members
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Lauren Smith
Why did you join iPlan?
To get a fresh perspective in the financial planning sector.
What is your position at iPlan and what do you do?
Paraplanner. My job involves putting together financial strategies for our clients and writing financial plans.
What did you do before iPlan?
Uni for 4 years, then worked full time at ABN AMRO Morgans on a graduate program for approx 15-months.
What is your favourite book/movie? Why?
“The power of one” written by Bryce Courtney. Its just an inspiring book, so inspiring that they later turned it into a movie.
What is your favourite quote? Why?
“Its not the amount of breaths you take, but the moments that take your breath away”. I love this quote, and its true!
What is your favourite food?
Chocolate!
What are your hobbies and interests outside work?
I’m still studying property, but when I get a spare moment, I love going to the beach.
Scott Stendrup
Why did you join iPlan?
The key reasons for me applying to join iPlan as a servicing adviser were their strong focus on client service, the ability to offer clients the iPlan process and their proactive approach to business.
Having applied the equivalent of iPlan’s wealth creation processes to my own personal finances, I am confident in the ability of the plan to deliver results to clients over the long term.
What is your position at iPlan and what do you do?
My role is Client Service Adviser. My role is to assist clients with their ongoing financial advice needs and to conduct their reviews as necessary.
What did you do before iPlan?
I was in my previous role for 6 years. The role was very similar to this in that it was very client service focused. Among other things I also had the opportunity to specialise in the wealth creation strategy that we know as “The iPlan”.
What qualifications do you have?
I have completed my Diploma and Advanced Diploma of Financial Services (Financial Planning), am a member of the Financial Planning Association of Australia (FPA) and a Commissionaire for Declarations. I am also currently studying for accreditation in Life Risk and Estate Planning Specialties through the FPA.
Do you have any children/grandchildren?
My Wife's name is Kym and I have 4 children.
What are your hobbies and interests outside work?
I am an active member of Northside Christian Church and enjoy being involved in their activities. I like to go 4 wheel driving, playing golf and going to the movies.
Michelle Calabro
What is your position at iPlan and what do you do?
I am an Adviser Administrator. I assist the New Business Adviser's and Client Service Adviser's in all client administrative work. I have worked at iPlan just over 3 months now and love being part of the team. Before iPlan, I was working in home mortgages at another firm.
Tell us a bit about yourself.
I come from an Italian background, and hence, love Italian food!
I have two beautiful children - Jessica (9) and Matthew (7). I am an avid soccer supporter; my team is AC Milan! I am a very creative person and have been working in the financial services industry for 2 years.
What is your favourite book/movie? Why?
"The Quiet American" by Graham Green. Its the truth about the beginning of the Vietnam War.
Who is your favourite actor?
Marlon Brando.
What are your hobbies and interests outside work?
Interior decorating, landscaping and art. |
