Michel (Mick) Steffan

Mick joint the financial industry almost 30 years ago in 1994, after graduating with a degree in business economics, and has been based in Geraldton since 1999.  He became a financial adviser in 2001 under the Garvan Financial Planning Banner (owned by MLC) and attained his Certified Financial Planning Designation in 2006.

During this time Mick developed an ethical concern about the business model of MLC, with MLC as a licensee and also a product provider, in particular with the multi-manager approach, and decided to resign as an authorized representative in 2008 vowing to only provide advice in the future through a licensee that is not connected with a financial institution. 

After completing his Masters in Taxation in 2011 he re-started his business under a new name of Indian Ocean Financial Services with a private licensee and became one of the rare independent financial advisers in Australia prompting a name change to Independent Advisers WA. 

In 2018 Mick again developed ethical concerns with the current Financial Planning Association prompting him to cease as a member of the FPA and hand in his Certified Financial Planning (CFP) Designation. He then continued to apply to receive his own Australian Financial Services License using the restricted term by law "Impartial" as a business name showing the commitment to be 100% independent, thus financial product conflict-free. 

The Trusted Adviser journey. 

With the attainment of his own AFSL license, Mick could now focus 100% on his client's best interest and acknowledged the feedback from several clients that there was a great need for good subject matter expert advice as part of his financial advice. Being a financial adviser as well as a tax adviser he observed a lack of expertise, quality, and willingness to work together (in particular in Geraldton) as a team of professionals in the interest of the client. 
 
This prompted the idea to engage a tax adviser that has the big picture in mind rather than often just tax compliance.  In addition one of Mick's new clients just commenced her new mortgage business expressing similar ethical and cultural values which helped develop the idea of providing truly comprehensive advice, coordinated by one trusted adviser. 
 
Today Mick orchestrates a team of 9 subject matter experts, all working for the clients of Independent Advisers WA.  They all have their own specialty and are committed to providing specific deliverables developed by Mick and the SME that line up with the client's financial advice needs. 
 
A process is in place for each subject matter expert to provide interim strategy advice as well as a comprehensive financial strategy within an 8-week period followed by a peer review meeting to align each strategy with the pig picture. 
 
A truly overarching comprehensive financial strategy is the end result that is reviewed and analyzed by Mick before it is presented and implemented by the client or our subject matter expert. 

In addition, a choice of a 1 or 3-annual progress review meeting ensures that all our clients stay on track to reach their goals with an increased level of certainty.