'The general public must be horrified': lessons from the royal commission

If you've got tennis elbow and your doctor suggests cutting your arm off, you'd seek a second opinion. So why wouldn't you do that with questionable financial advice? That's the argument put forward by Dr Dennis J. Maddern, independent financial adviser and founder and executive chairman of Maddern Financial Advisers. Dr Maddern told the Nest Egg podcast team that the barriers of entry to becoming a financial adviser are too low in Australia and, as the royal commission is revealing, Aussies are being stung. "They then should have confidence in that care. There should be no Storm Financials. There should be no Four Corners programmes," he said. "There should be no royal commissions. There should be no conflicted advice. The general public must be horrified at what they're seeing and hearing at the moment." He also spoke to the team about: · Why Australians shouldn't be afraid of seeking second opinions on financial advice · How to spot a truly independent financial adviser · Why even self-styled "Warren Buffetts" shouldn't be afraid of seeking advice Thanks Dr Maddern, for sharing your insights with the Nest Egg podcast team! You can stay up-to-date with what Dr Maddern and Maddern Financial Advisers are up to at https://bit.ly/2JkCskp