Personalized Financial Advisory: Beyond Recommendations

In this episode, we want to look at the financial advice process, and give you the helpful basics that you need to think about if you are considering getting professional financial advice.

Shownotes: https://meaningfulmoney.tv/HB9

What You Need To Know

02:24 Advice vs planning - Advice is product-led, Planning is outcome-led.

08:11 The Financial Planning process.

08:50 Establish and define the relationship.

11:50 Collect client information to have context for advice.

15:04 Analyse and assess the current position.

16:45 Develop the plan and make recommendations.

22:32 Implementation.

23:33 Ongoing review.

28:05 Costs and value.

35:00 Qualifications and designations.

What You Need To Know

39:03 Begin with the end in mind.

41:30 Contact several advisers.

45:47 Get costs and scope in writing.

48:25 Be prepared to be vulnerable.

53:50 Podcast Review