There are four important elements in the non-intermediating financial planning process that when completed in the right order improve the outcome for the client. These are: Goals: Multi-dimensional goal setting. Actions: The project plan to achieve the goals. Means: The lifetime cash flow forecast and ‘what if’ analysis to make good shortfalls and financial education … Continue reading The Productive Cycle: How to design the elements of a Non-Intermediating Financial Planning process →

How should you plan a client when non-intermediating financial planning? When you set up a non-intermediating financial planning firm. There’s not enough value in the ‘traditional’ financial planning process to justify the sale when you remove product advice. Traditional ContractFactfindNeeds analysisRecommendationImplementationReview It just leaves needs analysis. Modelling accumulation, preservation, crystallisation, decumulation and succession. The hand … Continue reading Stand and deliver won’t work. →

The GAME Plan Generator Do you want to create a sustainable and profitable business by doing more of what you love, and less of what you hate about the job? Do you want to earn while you sleep and create a great work-life balance with ‘nocturnal’ income for life? Where are you now? Maybe, you … Continue reading The Non-Intermediating Financial Planning Firm →

The Financial Planning Professional: Part 6 of 6 From accounts of Australian financial advisers following the fee-for-no-service scandal. I bought this business from the investment firm with a promise that if I were ever forced to sell, it would be on the same terms. Well now that promise has been broken and I’m facing ruin. … Continue reading What Happened Down Under →

The Financial Planning Professional: Part 5 of 6 Time to Reconsider Your Options Lockdown has given financial planning firms the time to reconsider if their business needs to be repositioned, and all firms should be looking from time-to-time at whether they should be directly authorised or with a network. Or if they are with a … Continue reading Changing from Directly Authorised to Appointed Representative →

The Financial Planning Professional: Part 4 of 6 A study published yesterday in the Telegraph found that most financial advisers are "fee for no service", in other words con men. A fee for no service is the failure to deliver ongoing advice services to financial advice clients who were charged fees for those services. The … Continue reading Most IFAs are Fee For No Service →

Business strategy planning as a concept The Financial Planning Professional: Part 3 of 6 The good news is, the 2019 Edelman Trust Barometer: Financial Services report indicates that trust in the financial sector is at its highest level since Edleman started measuring it in 2012. But at 57 percent trust among the general population, financial … Continue reading Fee for service advisers are more trusted →

You sit facing the direction of the compass point as you meditate. It is useful if you do this as you complete the GAME Plan stages for that direction. GOALS 1.       The Path of Wisdom: This is about accessing the innate supportive knowledge which is in all things. This path is one of acceptance and … Continue reading The Great Journey →

The Financial Planning Professional: Part 2 of 6 Non-Intermediating Financial Planning is financial planning that does not involve a product recommendation. In the UK, such financial planning is not a regulated activity and product advice is regulated by the Financial Conduct Authority (FCA’s PERG 8.26.2). Traditional financial planning ties financial advice to the making of … Continue reading Building the Wall Between Advice and Product →

The Financial Planning Professional: Part 1 of 6 The financial intermediary sector emerged mainly out of commission-based life insurance sales from the last century. Judging from continual unfavourable conclusions from industry consultations at home and abroad, even now advisers are still in the “incomplete transformation” from salespeople to professionals. Advisers are still more the selling … Continue reading Contemporary financial planning is about a lot more than recommending financial products →