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Why Financial Planners need to go beyond numbers
Financial planners are charged with helping clients achieve financial success. Typically, that means using various analytical tools and software programs to produce financial plans for retirement, college planning and so forth. This can be useful, but it's not nearly enough.
The bedrock duty of financial planners is helping clients live their dreams and attain their preferred financial reality. The problem is that there is a general disconnect between that goal and the production of a numbers-based financial plan that doesn't take into account several critical factors. These include an individual's personal relationship and history with money, ability to make life changes and other financial issues that can't be discerned through numbers alone.
"Financial Life Planning" is about building the bridge between traditional numbers-based planning and a broader, more holistic approach that takes into account people's goals and concerns. For advisors seeking to cultivate deeper and more successful relationships with their clients, becoming a financial life planner makes a lot of sense.
Read the full article by Michael Kay at Forbes.com here
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Author: Philip Calvert
Posted: Saturday, February 20, 2010 | 9:50:44 AM
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