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On 4 July 1776, a group of men gathered in a large Georgian hall in Philadelphia, Pennsylvania. They were there to sign a lengthy, non-legally binding document.
The American Declaration of Independence may not have been legally binding, but it was certainly a powerful symbol nonetheless.
Courage to start a movement
The document set out the reasons for the separation from the British Empire. It was a simple premise. Since all men are created equal, then it is the right of the people to replace a government when required.
The lasting effects of the Declaration of Independence extend far beyond American soils. It started a movement.
About a century later, a group of people in Ireland also stood up for their rights, their values, their independence. The British authorities learned of their plans for independence and didn’t like them.
The British placed them in prison in one of the most remote parts of the world; Fremantle Prison, Australia.
The Catalpa Rescue
From there they planned the greatest escape in Australian history. In 1876, escape came in the shape of a whaleship called ‘Catalpa’. The rescue was a success and united like-minded people from across the globe, all wanting their right for freedom and independence.
Today, this story is known as the Catalpa Rescue.
And it’s the inspiration for our own movement. Like those people all those years ago, we value our freedom and independence.
Our own Independence Day
On Monday, 2 August we took a stand and started our own Australian Financial Services Licence.
We are calling it Catalpa Pty Ltd. By self-licensing we can free ourselves from real and perceived conflicts of interests. It enables us to officially provide unbiased advice.
Our reasons for seeking independence are simple. We believe that professional financial advisers should serve their clients and their clients only. There should be no other money flows or vested interests.
Declaration of Independence
At When Financial Solutions, we do not receive any insurance commissions or any gifts or benefits from product providers. We have no associations with product providers, and we have no restrictions on the products we can recommend.
We are paid only by our clients and only for the services we provide.
And as we grow, we’ll make sure all our advisers continue to meet this standard.
Now that we have chosen our own path, we are free to serve our clients in new and better ways. In time, we expect our services to get better and better. Because we believe excellence comes from choosing your own adventure. It’s not a matter of ‘if’ but ‘when’.
Michael Bowman and James McMaster are co-founders of When Financial Solutions. This article is general and does not consider your personal circumstances so it may not be appropriate to you. If you would like advice specific to you, please give us a call.