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Does a Financial Planner NEED to be able to Write Comprehensive Financial Plans?

Simon Hassan, CFPBy Simon Hassan, CFP, New Zealand

Should surgeons be able to do surgery, or pilots fly planes! Of course a financial planner (and a CFP professional is supposed to represent the top rung on financial planning’s ladder) needs to be thoroughly capable of creating sound financial plans. If this was not the case it would be high time to invent another name for our profession!

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Financial Planet Poll: How important is the competency to develop a comprehensive financial plan in your practice?

Comprehensive Financial Plans Poll

Smart Clients Choose Holistic Advice

By Jaeki Jung, CFP

“Which is more appropriate, scaled or holistic advice?” This question cannot be answered without knowing ‘the object’ and ‘the situation’ first. This is because sometimes scaled advice can be enough and sometimes holistic advice can provide the client more desirable recommendations. In the end, a question of choice between scaled and holistic advice will be left.

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Comprehensive Advice is the Foundation for Scaled Advice

Jae young Yang - CFP Koreaby Jaeyoung Yang, CFP

Financial planning is a process that establishes a necessary financial goal for each stage of life and implements successive actions to achieve it, so that one can live a fulfilling life without financial difficulties. Most people want scaled financial planning in a particular scope such as investment planning, retirement planning, estate planning, etc.

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Comprehensive Advice Wins

Suresh Sadagopan CFP IndiaBy Suresh Sadagopan, CFP

The toss-up between comprehensive advice and focused advice is more of a business model debate. Purely from the financial planner’s perspective, they need to be clear on what they want to deal with. The bits-and-pieces advice approach, in a way, is what many investment advisors are doing, and they mostly don’t get to know the full picture about client’s finances. Therefore, the advice they are offering, might be limited in scope and could even be off-track.

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Focused Advice vs. Comprehensive Advice: What is the Financial Planner’s Job?

By Martin Casals Iglesias, CFP

As I have mentioned in some of my previous blogs, I live in Sao Paulo.

Sao Paulo is one of the largest cities in the world. Its metropolitan area comprises nearly twenty million inhabitants, including cities that, over time, have been appended to the urban sprawl, by their own growth. The city is very cosmopolitan, with people from diverse backgrounds.

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Comprehensive Planning Versus Focused Advice: It’s Not the Financial Planner’s Choice

Korean Financial Planning Professional Sunho KimBy Sunho Kim, CFP

The FPA and Ameriprise Financial conducted a survey of 3,022 people, in 2008, comparing the satisfaction of consumers who had received comprehensive financial planning or scaled advice. The survey focused on the way clients felt after working with a financial planner and asked questions about their peace of mind, their financial ability to achieve their life dreams and goals, and their readiness for retirement.

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Comprehensive Planning: The Core Value of Financial Planners

By Taylor Liao, CFP

When taking on a new financial planning case, we collect all of the client’s data and then we have a better understanding of their lives, than before. It’s like a story to us; a story of their past life and how they are planning for the future. We are in a very special profession: financial planning. The client trusts us because they believe we are professionals and that we have the goodwill to help them.

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