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Financial Services Compensation 101

Mukesh Dedhia, CFP, IndiaBy Mukesh Dedhia, CFP

Have we ever given a second thought as to why we pay fees to our doctor? Not really. This is because our doctor is the one who gives us life saving advice and appropriate treatment. He deserves the fee he charges. Then, what about the professionals who give their clients, savings (investment) advice for life??? Don’t they deserve fees for the scientific way in which they plan their client’s finances?

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Business Models and the Importance of Communication

By Taylor Liao, CFP

As a financial planner, I have heard many discussions about business models: commission-based, or fee-based, or both ? It’s a different story here in Taiwan; this profession is quite new and some planners don’t even believe it can work out to receive compensation.But, if they can make a little change in the way they communicate with their clients, it will help them to get reasonable pay for their services.

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Financial Service Compensation Models Learned from William Shakespeare

Korean Financial Planning Professional Sunho KimBy Sunho Kim, CFP

On March 9, 2012, a public hearing was held, in the Republic of Korea National Assembly Lawmakers’ Hall, over a legislation on financial consumer protection. It is uncertain, due to the General Election on April 11, whether this act will pass before April, or have to wait until the next Assembly Session, to do so. Regardless of the timing of the act’s passage, however, financial planners, in Korea’s financial product advisory profession, have a lot to feel thrilled about.

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Financial Services Compensation: Do You Ask Your Doctor How They Get Paid?

By Patrick Canion, CFP

I recently went through a procedure that is all too common for middle aged aspiring golfers. It was the same sad story – my brain refused to recognise that my body is no longer 21 years old, and this resulted in a shoulder injury that eventually needed an operation. Initially, my surgeon didn’t want to operate. But after a long year of trying less invasive methods, we concluded that the best option was to proceed with surgery.

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Charging Fees: Breaking the Myths

Marlene Shalton CFP Great BritainBy Marlene Shalton, CFP

January 2013 heralds a new dawn for financial advisers and planners in the UK with the requirements of the Retail Distribution Review (RDR) to be implemented. Amongst the raising of standards of qualifications and gap-filling of knowledge, the introduction of “adviser charging” will probably prove to be the most challenging, for some.

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Financial Services Compensation and Regulatory Intervention

By Phil Billingham, ACII CFP Chartered Financial Planner

First the good news: We should get paid for the work we do, the value we add, and most clients understand that…sort of.

Next, the bad news:

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Michael Snowdon, CFP

A financial planner practitioner and professor of financial planning, Michael Snowdon, CFP®, has more than 25 years of experience in the financial planning profession, and is the author of numerous nationally acclaimed financial education and training materials. As Director of Certification at FPSB, Snowdon oversees the organization’s international certification programs, as well as develops training and education programs for use by FPSB member organizations.

Snowdon is the owner of WealthRidge, a Greenwood Village, Colorado-based investment advisory firm he formed in 2008 to provide wealth management and financial planning services to small businesses and middle and upper-middle income individuals. He has also served as a professor at the Colorado-based College for Financial

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Athlete Salaries Compared to Financial Planning Compensation

by Mark DiGiovanni, CFP

Have you ever read about a professional athlete signing a contract for millions of dollars (or euros, or rupees, or whatever currency you carry) and proclaim that it is unfair that someone should be paid so much money to play a game?

Why do people feel that way? Is there anything more transparent than the publicly disclosed salary schedule of a sports team? With a few clicks of a mouse, you can find the total payrolls plus individual salaries of almost any team and player in any sport on the planet.

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