Knowledge Centre

Posted by

Not all advisors are made the same. There are many benefits of long term relationships with a trusted advisor, as they are in the best position to navigate you away from things you didn’t see coming, and steer you in the right direction during times of uncertainty. For example after a sudden stock market dip.

Many people change advisors for the wrong reason, and it can cost them dearly.

We’re often approached by potential clients who are shopping around looking for a fee reduction. We always ask them “Do you trust your advisor” and their response is often “yes”. In these cases, we advise them to stay with their existing advisor.

The risk of a small discount is great. Remember, changing Financial Advisors is not like changing your phone company. If your new phone company makes a mistake, you can change to another phone company.

If your current advisor is doing everything you need and is trusted, this is such a great match and can be difficult to come by.

Obviously fees are important, that’s why will only take on clients where we can add value above our fees. If a potential client sees us and we believe our fees do not represent value for money to them, we will advise them immediately.

When working with a trusted advisor who is helping you to achieve long-term objectives that you are comfortable with, fees should be a secondary consideration. Moving from a trusted relationship, to another advisor, may drop your costs slightly, but this small reduction is far outweighed by the debilitating effect of bad decisions on your personal finances.

Hold onto your trusted Advisor with dear life.

Joe Stephan

Independent Financial Advisor

Joe Stephan graduated in 2002 with a Bachelor of Business (Fin Plan) under the tutelage of his father (Program Leader of Financial Planning at RMIT University).

You will hear Joe bandy about the idea of “pure financial advice”, which is given objectively and focused around the needs of individual and not the internal needs of the business providing advice.

Joe is realising his vision every day through his Independent Advice Firm which he owns and operates with his brother James. Joe also spends a portion of his time teaching tomorrow’s Financial Planners at various Melbourne Universities including RMIT & LA Trobe.

  • Enjoy the fruits of working life Joe & James were able to provide me with the impetus to take the next step into retirement which could have been delayed without quality financial advice. Dr. Kevin Adams Self Funded Retiree
  • Professional practice to be admired Joe & James' professional practice is to be admired. They are always there for his clients when needed. They freely pass on their expert knowledge without hard product selling techniques. Dr. Elspeth Mckay Associate Professor
  • Personal advice for complex lives Stephan Independent Advisory took the time to understand our situation & tailor their advice & solutions to our specific needs which, being a business owner, can be quite complex. Paul Marsh - Principal P2 Group - Business Owner
  • Family centered advice We have moved our investments from being a private client with a major bank to Stephan Independent Advisory in 2018. Since this move, we have been surprised at the depth of understanding encountered from Joe and James about our future plans and their ability to comprehend exactly what we wish to achieve. Mr Graham and Mrs Judith McKnight Self Funded Retirees
  • Values aligning with our own Clear, timely and direct responses in all areas of communications are outstanding. Meetings are planned and run efficiently to deliver on all our expectations. The firm’s values align to our own so that trust is readily established. Mr John and Dr Kim Watty Self Funded Retirees

about a second


A 15 MIN
Stephan Independent Advisory
Private Wealth Management
Suite 506, 1 Princess Street, Kew VIC 3101