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Comprehensive Financial Plan: Wouldn’t It Be Nice if Everyone Could Have One?

Nick Cann CFP United KingdomBy 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.

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Holistic Advice: They Might Not Want It But They Need It

By Mark DiGiovanni, CFP

When the topic of this month’s discussion, the case for “scaled” vs. “holistic” advice, was first presented, my first response was “Huh?” I ran to Google to find out exactly what I was expected to write. I learned the difference between scaled and holistic advice from Australian, Chris Nothling:

Scaled advice is advice about one area of an investor’s needs, such as insurance, or about a limited range of issues. This contrasts to so-called “holistic advice” which is the traditional advice model offered by many financial advisers.”

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Focused Advice is not Really Financial Planning

Marlene Shalton CFP Great BritainBy Marlene Shalton, CFP

I am often asked what area of work I specialise in and I always reply, “financial planning”. In addition, I consider that I undertake ‘comprehensive’ financial planning and not ‘holistic’. The latter means you have to cover every aspect of your advice and could lead you wanting, whereas the former is extensive, covering most.

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