Speaking to InvestorDaily, Chan & Naylor director Ken Raiss said that people are not educated in wealth building and when they seek advice, often don’t leave with the whole picture.
“We don’t learn the art of wealth at school or at university,” Mr Raiss said.
“I think a lot of people don’t achieve their goals. Not because they set high goals - they set low goals and get to them, but it’s not enough.
“They don’t know how to put in place safety mechanisms to ensure that if things don’t go according to plan they don’t suffer severe consequences.”
Mr Raiss said that people who have some investment experience are often unable to achieve a level of advice at the higher level that they need.
He said there is a need for holistic advice to provide a comprehensive level of service for more experienced investors.
“When you’ve got individual bits [of advice], even if they’re great, you can’t put them together - the whole thing doesn’t work,” Mr Raiss said.
“A lot of people may not have the higher level advice, but even if they did it tends to be in isolation of all the other bits they need.”
Chan and Naylor recently ran its seventh annual Wealth Retreat, helping experienced investors reach a higher level of wealth creation, with a specific focus on property investing.
“Wealth Retreat is focused on helping people move from a position of being an investor in property to being a business person who uses property as the vessel to create, protect and accumulate wealth,” Mr Raiss said.
