Financial Planners Secrets… REVEALED!
Paul Dwyer • April 22, 2019
Regardless of whatever anyone tells you, financial planning is not new or unique strictly speaking. Actually the methods and strategies are widely used and time tested. Specifically, financial planners do 3 secret things to continue growing our own success...
- We preselect clients who are most likely to be successful. Financial Advisors can spot the inevitably successful people from great lengths. We actually spend decades studying success and mediocrity and can tell almost immediately where a person is headed at that time. Our success comes from our clients success so we have a vested interest in preselecting the inevitably successful clients.
- We succeed when our clients engage in beneficial financial strategies. When our clients engage in beneficial strategies like paying off debt, buying a home, planning for retirement and owing a business we succeed. You see to do any of these financial strategies, clients must be able to see their future and want it to be better. When clients can see their future they understand that a plan significantly increases the chances of a better future by a wide margin.
- We succeed when our clients avoid, mitigate or transfer risks. Success to some degree is an inevitable part of life. The accumulation of success is only slowed by the person’s own ambition but it is stopped by risk. While we cannot avoid events that cause loss, we can effectively manage the loss through avoidance, mitigation and transfer. Having our clients aware of the ways to manage risk and loss beforehand helps them resume progress faster. Over a lifetime its the difference between millions and billions.
In summary the secret to our success is to find clients willing to be inevitably successful, interested in doing the right thing for their future selves often, while avoiding risks or loss more often. We engage and support our clients because when they succeed we succeed… and although not one client makes a successful financial planner, It only takes one financial planner to secure success for a community of clients.
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Earning is inevitable. No planning involved. Retaining, deploying compounding, leveraging takes planning. Time efficient, risk efficient.
Is it possible to accomplish:
· In less time?
· More in the same time?
· This goal more reliably?
· This goal more consistently?
· What would it take?
· How to get what it takes?
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· In less time?
· More in the same time?
· This goal more reliably?
· This goal more consistently?
· What would it take?
· How to get what it takes?
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A Financial Planner is a trusted role. Empathy, understanding, free of judgement or blame. The advisor must embrace the client and fearlessly know the client to the point that the client can feel safe enough that they will permit their best interests to be served, beyond and often contrary to their pride and ego.
Friendly Advisor? So what? Used car salesmen, realtors and lawyers are friendly too. Are you getting value for the fees you're paying? How do you know? it's a question of relative not ABSOLUTE VALUE. Financial planners are paid to plan? Even up to 5 years ago planners were compensated by the sale of investments , and they performed planning services for free. That's completely opposite today. Because of computer literacy, and the internet... all ages and stages of society have direct access high quality investment strategies, with or without a plan. Are you getting planning value? Is your financial plan still relevant? How would you know? Fees... Touchy subject? Not if you're keen on the comparative value versus alternatives. The TRUTH is. Relationship quality is a binary qualifier, and not an indicator of value . Friends - should be and are - FREE. Not all Advisors are the same. They vary in: Qualifications and Professional Development Experience Platform Specialization COMPETENCE WORK ETHIC ASSOCIATED LICENSING. Advisors may also have different capacities based on their Dealer or Brokerage. Access to: Experts Suitable Products Pricing Related Services Independent advisors are unbound and able to seek planning tools, experts, and premium products services and strategies and more. This January... when you open your Investment statements... Find out what your Fees are and get mad enough to seek better value elsewhere. or... Not. Its a question of Relative Value... Paul
