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Financial Planet Poll: Can fee-only financial planners serve low net worth clients effectively?

Financial Planners: You’ll Never Know It All

By Joel Redmond, CFP, United States

The more we study finance, the more we must come to the abrupt and inevitable realization that there is never an end to what we can learn. In the Hans Christian Andersen fairy tale The Garden of Paradise, the prince visiting the garden notices the different fruits on the trees.

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Behavioral Finance: Progress Makes Perfect

By Cora Pettipas, CFP, Canada

There have been many times I have questioned people’s sanity in their relationship with money. My most vivid memory of this was when I waddled into a Starbucks (I was eight months pregnant). On the way to the counter, I passed a young opulent-looking couple sipping lattes and saying to their toddler son, “you are never going to college, no you’re not, no you’re not!”

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Financial Planning in Brazil and the 10 Years Rule

By Martin Iglesias, CFP

Philipp E. Ross published in August 2006 a study in Scientific American named “The Expert Mind” which pointed out that to achieve a state of full expertise in a particular subject one needs 10 years of experience.

Before that, in 1993 the psychologist Anders Ericsson, wrote an article proposing the rule of 10,000 hours, stating that the stage of excellence can only be achieved after practicing a subject for a such number of hours.

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Debt: The Biggest Threat to Financial Planning and a Cancer to Cash Flow

By Cora Pettipas, CFP

The Problem

Debt accumulation is a cancer to individual wealth and is currently the biggest threat to financial planners. Why? Because before you can do any proactive financial planning with a client, they need to have a positive cash flow.

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Financial Planet Poll: What is the most important behavioral characteristic you look for in new clients?

Financial Planning For The Masses Works – As Long As You Can Really Reach The Masses!

By Michael Kitces, CFP

It has long been a criticism of financial planning that it is focused too far up the wealth scale. Financial planning firms in the US at best only start serving the “mass affluent” (typically defined as $100,000 to $1 million in investment assets), and the elite independent firms often have minimums of one or several million dollars.

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