Financial advisers often set thresholds for investable assets, which can exclude those who need financial planning the most. This practice is driven by commercial viability and the traditional training and certification of advisers, which primarily focus on managing existing wealth. However, a shift in mindset is necessary to address the broader needs of society, particularly … Continue reading Rethinking Financial Planning: From Asset Management to Human Capital Development
Month: May 2024
The Story of a Transformative Email Chain: Revolutionising Financial Planning
In a recent exchange between Steve Conley, Founder of the Academy of Life Planning (AoLP), and Julia Hodgson of Hodgson Howell (name changed for privacy), a compelling narrative unfolded. This conversation delved into the future of financial planning, highlighting the importance of mentorship, community, and the non-intermediating model advocated by Steve. Introduction: A Shared Vision … Continue reading The Story of a Transformative Email Chain: Revolutionising Financial Planning
Life Strategies: Creating Your Game Plan for Life
Introduction Imagine your life as a grand adventure, one where you are the hero charting your course through a landscape filled with opportunities, challenges, and endless possibilities. Much like a business needs a strategic plan to thrive, we need a game plan for our lives to ensure we're heading in the right direction. In the … Continue reading Life Strategies: Creating Your Game Plan for Life
The Next Phase of Financial Advisers: Integrating AI with Human Insight
The financial services sector is undergoing a transformative change with the advent of artificial intelligence (AI). This shift is redefining the role of financial advisers from traditional technicians and intermediaries to holistic life planners and coaches. Karen Barrett, CEO and founder of Unbiased, emphasises that the next phase of growth for financial advisers has to … Continue reading The Next Phase of Financial Advisers: Integrating AI with Human Insight
Creating Income as a Financial Planner: Leveraging Human Capital for Sustainable Revenue
In the dynamic landscape of financial planning, the traditional paradigms often focus on managing financial capital, overlooking the vast potential of human capital. Financial planners can significantly enhance their clients' income streams by recognising and leveraging their human capital, a concept extensively studied and endorsed by leading institutions such as the CFA Institute and the … Continue reading Creating Income as a Financial Planner: Leveraging Human Capital for Sustainable Revenue
Safeguarding Footballers: A Call for Non-Intermediating Financial Planners
Professional footballers, despite their prowess on the field, often face significant financial challenges off it. High-profile cases, such as those involving Rio Ferdinand, Robbie Keane, and Chris Smalling, illustrate the dire consequences of trusting the wrong financial advisers and the need for a new approach to financial planning. The Professional Footballer's Mindset Professional footballers often … Continue reading Safeguarding Footballers: A Call for Non-Intermediating Financial Planners
Financial Advice and Wealth Accumulation: A Misinterpretation of Statistics
In the world of financial planning, industry pundits often misinterpret surveys and statistics to paint an overly simplistic picture of the benefits of financial advice. One pervasive misconception is the assertion that clients who receive financial advice are inherently wealthier than those who do not. See this article, People taking advice from loved ones £42k … Continue reading Financial Advice and Wealth Accumulation: A Misinterpretation of Statistics
Retire from Regulation, Not from Meaningful Projects: An Encore Career in Non-Intermediating Financial Planning
Nearly half of regulated financial advisers are contemplating exiting their businesses within the next two years, according to recent reports. The primary reason for this trend is retirement, with compliance challenges coming in a close second. The increasing burden of onerous ongoing service review justification files seems to be taking its toll. For many seasoned … Continue reading Retire from Regulation, Not from Meaningful Projects: An Encore Career in Non-Intermediating Financial Planning
Delivering Universal Economic Empowerment: A Call to Action for Financial Planners
The financial planning community has long catered to the wealthiest in our society, often neglecting those with the greatest need for planning. The underserved regions and populations, while not necessarily poor, frequently find themselves unable to make ends meet. This demographic does not require investment advice but rather guidance on achieving a frugal yet decent … Continue reading Delivering Universal Economic Empowerment: A Call to Action for Financial Planners
Planning for Purpose: Addressing the Unique Needs of Clients in Decumulation
In financial planning, the fundamental shift from accumulation to decumulation necessitates a change in strategies and attitudes. The recent Financial Conduct Authority’s Consumer Duty regulations highlight the importance of tailoring retirement advice to meet these evolving needs. As depicted in the attached image, a life spent relentlessly chasing money often culminates in a stark realisation … Continue reading Planning for Purpose: Addressing the Unique Needs of Clients in Decumulation
Academy of Life Planning 