According to Halal finance experts, Hejaz Financial Services, Australians want to see themselves reflected in their financial investments. As the country's leading diversified provider of Islam finance products and services, Hejaz explains that it is no longer enough for financial advisers to focus only on fees and returns. Instead, Australians want their investments to reflect their moral and ethical values. The growth of Islamic finance has put financial inclusion in the spotlight, says the Hejaz team.
There remains a distinct lack of customer-centricity around financial advice. In the past, advisers have been heavily incentivised to sell products rather than advise their clients on how to improve their financial situation, says the Sharia loans provider.
Consumers have a right to sound, high-quality financial advice and advisers have a duty to act in the best interests of their clients. To do this, there needs to be a focus on representing the views and opinions of clients, both knowing and understanding their individual circumstances. Financial advisers should consider the values of their clients too when assessing which investments to include or exclude from their portfolio, says Hejaz.
Hejaz points out that there needs to be more of a focus on enabling the provision of high-quality, accessible and affordable financial advice. The Halal home loan provider says it welcomes any dialogue at a national level that will allow the industry to better service growing demographics, including the rapidly expanding Muslim community.
Modern consumers want to see a reflection of themselves in their investments, says the Halal loans expert. By taking into account the ethics, religious and personal beliefs of clients as well as their goals, financial advisers can build trust and longer term relationships with their clients.
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Original Source: Experts Weigh in on the Importance of Expanding Access to Specialist Financial Advice That Aligns With the Ethical Requirements of Consumers
This news story originally appeared at Lifestyle - Trend Magazine on 9 September 2022