Friday's final word goes to...

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AMP financial planner Paul Carter

Why did you get into financial planning?

I was 24, had just left a family business and was a little unsure on what career direction to take.  My mentor at the time, deceased AMP adviser David Buttfield, suggested a career change.  That was back in 1987 and today here I am still enjoying the career that David convinced me would be a good one.

How would you sum up financial planners in 3 words?

People helping people.

Best bit of advice you’ve ever given?

I advised a group of directors who were going to cancel their buy/sell and keyperson insurance that they should all have medicals before cancelling the policy. One of them subsequently discovered he had a terminal condition and because they had not cancelled their insurance he ended up with a $3 million Total & Permanent Disablement (TPD) claim. Whilst the diagnosis was devastating, the TPD pay out enabled him to retire immediately and enjoy the time he had left as much as he could.  It also enabled him - a proud accountant and successful businessman - to sort out his financial situation for himself and his family, whilst he could. Lastly, it allowed the remaining shareholders and directors of the company to buy him out with the proceeds of an insurance policy without borrowing money, at a time when it would have been difficult for them to borrow the full amount.

How would you change the industry?

What disappoints me most is that we seem to have lost sight of the fact our industry has a long history of helping clients achieve their financial dreams. I have had 27 proud years of building fantastic relationships based on a high level of trust with our clients and providing advice within our vision - “Plan, Help, Achieve” - but recent debate seems to be centred around mistrust and the small minority of planners who are not doing the right thing. Let us get on with the job of helping Australians enjoy a better future within the trusted relationships we share with our clients.

What do you enjoy about the backing of a company like AMP?

The peace of mind it brings to our clients and, in particular, the older generation, many of whom have fond memories of AMP as an icon in Australia. At that initial stage of relationship, whilst you personally work to build trust and relationship with a client it can also be very comforting for them to know that in the event something goes wrong, there is a strong organisation standing behind our advice.

Coffee or tea? …Or something harder?

Tea in the morning, coffee in the afternoon and a wine occasionally at night – all bases covered.

What’s at the top of your bucket list?

I seriously do not have a bucket list and have been very lucky to travel to some fantastic parts of the world and within Australia. I would like to continue exploring different parts of the globe - if there was one place I’d like to visit, it would be Antarctica.

What did you have for dinner last night?

Fish.

What are your plans for the weekend?

I’m playing a game of hockey on Saturday and on Sunday I’m driving to Coral Bay (on the Ningaloo Reef) to drop the boat off ready for our holiday two weeks from now (and counting).

If you'd like to take part in Wealth Pro's 'final word' send us a line: kathleen.payne@keymedia.com.au

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