By Taylor Liao, CFP, Chinese Taipei
Every client’s situation is different making it impossible to use the same model for every client. I start over with every case I handle because each client has a unique problem that requires me to be patient and accompany them through the financial planning process. In this blog, I will share with you things I’ve learned through many years of financial planning practice experience.
Continue reading Will your financial planning clients really reach their goals?
By Sunho Kim, CFP
A financial plan is the main outcome of a CFP professional‘s services. CFP professionals pay attention to the financial plan’s quality and quantity, to ensure their value is recognized by the client.Some plans end up being the size of a small book, having tables, figures, statistics, references, and appendices in them.
Continue reading How To Write Effective Financial Plans
By Steve Helmich
All of you know and hopefully love the 6 stage advice process. It’s what financial planning is built on – the foundation of great advice. It is familiar, reliable and structured – as a planner you can manage your time and your business because you know where you stand. But what about your clients?
Continue reading How do Clients Feel During the Financial Planning Process?
By Almo Lubowski, CFP
Many believe that in order to be a professional financial planner, one needs to shift towards a fee-based model within one’s practice, with a clear distinction between the provision of financial advice and the sale of products being drawn. Perhaps the word “fee” is also a bit deceptive in the financial planning profession; some say that the term “advisor charging” is more appropriate.
Continue reading Professionals Use Fee-Based Models
By Dan Candura, CFP
In the US, financial planning grew out of an interest in needs-based selling in the insurance and investment industries. Agents and advisors discovered that by focusing on the needs of the customers, they sold more … and the business they were in, stayed on the books longer. This increase in both production and persistency, was a powerful profit generator that was noticed by management.
Continue reading Financial Planning Process – Where Did That Come From?
By 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.
Continue reading Comprehensive Planning Versus Focused Advice: It’s Not the Financial Planner’s Choice
By Nick Cann, CFP
It is becoming clear in the UK that it is impossible to deliver comprehensive financial planning to all consumer segments, even if the individuals concerned really want it. The weight of regulatory reform, plus a move to fees, has meant that to do the job properly, the client has to be happy to pay the appropriate fee or have sufficient assets or wealth to cover the ongoing cost of advice.
Continue reading Comprehensive Financial Plan: Wouldn’t It Be Nice if Everyone Could Have One?
By Taylor Liao, CFP
2011, for financial planners, was just like riding a roller coaster. Through the long-lasting 2008 collapse of the Lehman Brothers financial crisis, it seemed as though the economy would get better towards the second half of 2011. Unfortunately, then came the euro-zone debt crisis and all things were back to square one. Most of the clients were worried about the revenue of their investments.
Continue reading 2012 Predictions: An Opportunity for the Financial Planning Profession?