Many people assume that financial advice and financial planning are interchangeable terms – two ways of describing the same thing. However, this could not be further from the truth! The key difference between a financial planner and a financial adviser lies in their approach and focus. Understanding this distinction can make all the difference in … Continue reading Financial Advice is an Industry, Financial Planning is a Profession
Tag: personal-finance
Factoring Inheritance into Your Lifetime Cashflow Plan: The Risks and Alternatives
Many of us dream of reaching significant milestones, whether it's buying a home, starting a business, or planning that long-awaited adventure. In recent years, some have come to rely on the idea of an inheritance to help fund these major life events. But while it can be tempting to factor in an expected windfall into … Continue reading Factoring Inheritance into Your Lifetime Cashflow Plan: The Risks and Alternatives
Understanding Financial Planning: Your Guide to Non-Regulated Advice and Empowering Your Financial Future
When it comes to financial planning, it’s important to understand that not all advice is the same—especially when it comes to regulation. Financial planning that doesn't involve specific financial advice is not considered a regulated activity. This can be reassuring for those looking to seek or provide guidance on broader financial strategies without the complexity … Continue reading Understanding Financial Planning: Your Guide to Non-Regulated Advice and Empowering Your Financial Future
Why Choosing the Right Professional Body Matters for Your Financial Planning Career
Starting your career as a financial planner is an exciting yet crucial journey. You’re not just looking to build a profession; you’re embarking on a path that will influence the financial wellbeing of your clients for years to come. One of the most important early decisions you'll need to make is aligning with the right … Continue reading Why Choosing the Right Professional Body Matters for Your Financial Planning Career
Why You Don’t Need Another Financial Adviser—You Need Self-Efficacy
In a world filled with financial advisers telling you what to do, it’s easy to feel overwhelmed. But here at the Academy of Life Planning, we believe that financial planning shouldn’t be about someone giving you answers. It’s about you discovering your own. We are not product sellers or advisers. We don’t push products or … Continue reading Why You Don’t Need Another Financial Adviser—You Need Self-Efficacy
Sales Shouldn’t Be Demonized: Clarifying Roles and Expectations in Financial Planning
In the financial planning industry, there is often a miscommunication regarding business models and the nature of the roles involved. It is a common belief that all businesses engage in selling and, consequently, require sales skills. However, confusion arises when mutual fund distributors claim that their success hinges on fund distribution skills and product sales, … Continue reading Sales Shouldn’t Be Demonized: Clarifying Roles and Expectations in Financial Planning
The Financial Wild West: Navigating the Risks for British Expats Considering Moving Abroad
As a Labour government ponders raising taxes on capital gains, inheritance, and overseas wealth, many wealthy individuals in the UK are contemplating relocating abroad. However, the financial service regimes internationally are not the same as in the UK. For British expats, this transition can feel like venturing into the Wild West, where overseas domestic markets … Continue reading The Financial Wild West: Navigating the Risks for British Expats Considering Moving Abroad
8 Essentials that Differentiate Holistic Financial Planning from Traditional Financial Planning
Traditional financial planning often revolves around intermediating services provided by financial advisers. Holistic financial planning, however, offers a broader and deeper approach. Here, we explore eight features that distinguish holistic financial planning from its traditional counterpart. Authenticity Holistic financial planning begins with a process of self-discovery, often called values-based financial planning. Planners help clients identify … Continue reading 8 Essentials that Differentiate Holistic Financial Planning from Traditional Financial Planning
The Significance of the Longevity Illustrator in Life Planning
As we navigate the intricate paths of life planning, one of the pivotal aspects that demands our attention is understanding our longevity. This understanding forms the bedrock of effective financial planning, ensuring that resources are not only sufficient but optimally allocated to sustain us throughout our lifetime. The Actuaries Longevity Illustrator, developed by the American … Continue reading The Significance of the Longevity Illustrator in Life Planning
Transitioning from SJP to a Financial Planning Firm Without Regulatory Debt Restrictions
Understanding the Dilemma According to FT Adviser, many St. James's Place (SJP) advisers are currently grappling with the challenge of plummeting practice valuations and significant debt burdens. The recent economic environment, coupled with the specifics of SJP’s internal valuation methods, has placed advisers in a precarious position. The situation echoes troubling precedents set in Australia, … Continue reading Transitioning from SJP to a Financial Planning Firm Without Regulatory Debt Restrictions
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