By Almo Lubowski, CFP, South Africa
Nobody is under any illusion that a financial planning practice is in the business to be profitable and serve as a source of income for its owners and employees. However, it is unfortunate that many still overlook the need to engage in implementing some important practice management strategies for their businesses in favour of purely focusing on sales targets and production.
Continue reading Good Practice Management and Sales: A Continued Tug-of-War
By Taylor Liao, CFP, Chinese Taipei
CFP professionals are held to different education standards around the world. This is due to the differences in language, law and tax rules in the 24 territories where CFP certification is offered. One of the challenges that prevents students from earning their CFP certification in the first place and stops CFP professionals from renewing their certification is how to start a fee-based consulting practice.
Continue reading The One Thing CFP Professionals Need to Succeed Right Now
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.
Continue reading Financial Planners: You’ll Never Know It All
By Taylor Liao, CFP
The financial planning profession faces a lot of challenges including a general lack of awareness from the public, competing designations that confuse the public, lack of regulation, and people claiming to be “financial planners” when they are not qualified.
Continue reading Practice Challenges Facing Financial Planners
By Lovaii Navlakhi, CFP
I started out as a financial planner in 2001 without really meaning to. In between jobs, I began devoting time looking after portfolios of my friends and ex-colleagues. By the time my new job materialised, it was too late – I was hooked. I was thoroughly enjoying myself in this new role as a financial advisor.
Continue reading 10 Pieces of Advice for New Financial Planners
By Michael Kitces, CFP
Getting started as a financial planner is difficult. Although not quite the ugly environment of decades ago, where every prospective advisor was simply thrown out into the cold to fend for themselves trying to find clients in a brutal demonstration of natural selection and survival of the fittest, the fact that financial planning is still dominated by small firms with limited experience in hiring and training makes formal career paths rare.
Continue reading 10 Tips For New Financial Planners To Maximize Career Progression
By Daehong Kwon, CFP
Because the financial planning industry is only 10 years old in Korea, the first generation of financial planners is still in the stages of studying, learning, and growing. Hopefully, in the next 10 years, we will see more progress and have wisdom to pass on to financial planners who are just getting started.
Continue reading Practice Knowledge For Financial Planners Who Are Just Getting Started
By Cora Pettipas, CFP
To be successful, a new planner can approach their career in the same way we teach our clients to approach their finances. It needs to be done proactively, in the spirit of continual development and progress.
Continue reading Mastering the Art of Financial Planning: 7 Tips for New CFP Professionals