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The Evolution of Suitability Principles

Korean Financial Planning Professional Sunho KimBy Sunho Kim, CFP

South Korea’s suitability principle was established by the Financial Investment Services and Capital Markets Act, which was enacted in August 2007, and implemented in February 2009. The new principle calls for investors to be classified into ordinary or professional investors, and requires that investment recommendations are deemed suitable for an ordinary investor in light of his or her investment purpose, status of property and experience.

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Financial Planning: One Profession, One Designation

By Michael Kitces, CFP

Nearly 25 years ago, financial planning luminary P. Kemp Fain put forth a rallying cry for the financial planning profession with the famous “One Profession, One Designation” refrain, suggesting that the CFP certification become the one true designation for determining whether someone was a financial planning professional and that financial planning couldn’t become a profession until it had a standard entry point.

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The Benefits of Client Segmentation

By Daehong Kwon, CFP

Every financial planner has their own criteria for classifying clients, such as age, profession, wealth, etc. Some financial planners only work with certain groups of people such as doctors, CEOs, unmarried women, or retirees, while others work for anyone and everyone.

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Proper Communication for Better Client Relationships

By Taylor Liao, CFP

When financial planners discuss client classification, they typically talk about the type of client that they want to work with. Some may choose high net worth clients because they pay more and have more assets to manage. There is only one type of client that I will not work with.

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Ethical Responsibility for the Benefit of Society

Mukesh Dedhia, CFP, IndiaBy Mukesh Dedhia, CFP

The man who will use his skill and constructive imagination to see how much he can give for a dollar, instead of how little he can give for a dollar, is bound to succeed.” -Henry Ford

I completely agree with Mr. Ford’s thought, that until you possess a clean character and sincerity of serving others to your best ability, without any expectations, the ultimate aim of helping does not get fulfilled.

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How to use Client Segmentation in your Financial Planning Practice

By Joel Redmond, CFP

Humans seem to have an instinct for categorization that is truly congenital – most of our early learning is based on prior generations’ efforts at listing, organizing, prioritizing. In chemistry we learn the diagram of a hundred or so substances that all matter consists of.

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Client Segmentation for Financial Planners

By Martin Iglesias, CFP

The issue of classifying clients, according to their needs and behaviors, is something I’ve been working on for many years. This issue, in my point of view, becomes more important as a financial planner’s client portfolio grows and the planner doesn’t necessarily have a close relationship with all of their clients.

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Financial Planners Save Lives

Lovaii Navlakhi CFP IndiaBy Lovaii Navlakhi, CFP

Last week, I heard about my friend’s colleague who passed away in an accident – he used to be a client of ours. He had done some investments through us a few years back and we had also done a financial plan for him, but before we could discuss execution he moved away and then didn’t follow through with us.

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