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Are you the Client or is your Money the Client?

16 0 20
26.09.2021

As a financial planner, I believe this is the most critical question you need to ask yourself, and what REALLY sets certified financial planners apart from ‘distributors and product salespeople.

Unfortunately, for most distributors, the money is the client, and so their systems, methodologies, and procedures are all about classifying the investment (low, medium, and high risk, for example) and advice on the product. Their goal is to pinpoint the most suitable product, (is this possible?) but in doing this they miss the holistic approach. The “suitable product approach” does not create the value the families expect and also creates challenges when making other investment decisions.

Hence, when the money is the client, the value for the owner is limited.

Financial planners, on the other hand, are NOT in the “money industry”; They are in the “people business”.

The Goal of a financial planner is not to help a client commit to purchasing a product, but to help families achieve their life goals.

Defining life goals and implementing a plan for the family to achieve these goals is the calling of the financial planner.

A good financial planner will not limit himself to providing advice within the limits of his regulated advice, he will take on all the challenges of the family globally.

Every day, the family’s location in the world becomes less and less important. In the past, people lived in a region, and it........

© The Times of Israel (Blogs)


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