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Welcome to the global gathering place for the financial planning profession
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
Every year, I have many colleagues pass the CFP examination and earn their certification. For some of them, the CFP certification is just an extra certification that they may never use. But for others who are full of passion about starting their own financial planning practice, I have written this blog with real-world knowledge and tips on getting started in the financial planning business. Continue reading What To Do Before You Open a Financial Planning Business
Have you ever experienced clients who appear happy to see you, listen carefully to your suggestions, and then don’t make any of your suggested changes? Why does this happen? You did everything right: you studied the clients’ financial situations, analyzed their data, and provided a comprehensive suggestion. Continue reading How to Use the Transtheoretical Model of Change to Motivate Clients
The enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) brings a new era of regulation focused on promoting transparency and accountability in the US. Continue reading Regulation Challenges Facing Financial Planners
“The pessimist sees the difficulty in every opportunity; the optimist sees the opportunity in every difficulty.” – Sir Winston Churchill There isn’t regulation in Taiwan enforcing financial planners to disclose the commission they receive from vendors of products. Continue reading Proper Fee Disclosure in a Financial Planning Meeting
With the exception of fee-based financial planners, recommending products is a necessary part of the financial planning process. So, the question we have to ask is, “What makes us different from product salespeople?” When financial planners are deciding which product is a best fit, they are looking for a product that helps clients achieve their goals. Continue reading Remuneration Models: Why Planners Shouldn’t Outsource Product Sales When financial planners discuss client classification, they typically talk about the type of client that they want to work with. Some may choose high net worth clients because they pay more and have more assets to manage. There is only one type of client that I will not work with. Continue reading Proper Communication for Better Client Relationships
In Shakespeare’s drama ”Hamlet”, Prince Hamlet said “There is nothing neither good nor bad, but thinking makes it so.” I say that there is no career neither good nor bad, but your choice makes it so. Your career reflects your philosophy of life and values. Continue reading My Fulfilling Career as a Financial Planner |
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By Taylor Liao, CFP
By Taylor Liao, CFP