As an independent financial adviser, you value your clients and their happiness is important to your success. Go beyond your standard stay-in-touch practice and show your clients that you appreciate their business with a unique end of year gift.
As a working professional, you have learnt that managing your wealth properly takes time, energy, and skill. And, if you want to be truly successful financially, it’s properly best to get a professional helping hand – an independent financial adviser who can help you secure and grow your wealth over time.
Breaking up with your financial adviser can be a tough move, especially if you’ve been with them for years or struggled to find someone to manage your savings and investment portfolio from the start of your financial journey. However, as a professional who has worked hard to establish your financial security, it’s essential to have the right management team in place and sometimes your current adviser just isn’t it.
As an independent adviser looking to build your business, inheriting a more established adviser’s book can seem like a perfect way to secure and grow your client base. While this can be a great opportunity, it’s also one for pause and reflection. In order to truly benefit from another adviser’s book (with the result being happy clients and a successful business), there’s quite a bit to consider before you jump straight in.
Saving is an important part of any strong financial plan. From allowing you to invest in insurance products to suit your changing needs to help you establish an essential emergency fund, saving is a key step towards financial independence and increased wealth. Despite this, many working professionals find it hard to save – either in the face of rising costs or because they quickly grow into their salaries.
Most people don’t like to think about death or about planning for their family’s life after their death. Unfortunately, this can have a negative impact on their financial situation and their loved ones. The truth is that all adults need to engage with this type of life planning at some stage in their financial journey and the sooner, the better.
Do feel anxious whenever you have to tackle financial planning? Would you rather do anything but take a good, hard look at your wealth plan? One of the most overlooked aspects of a good formal education is financial knowledge. So, while you might be excellent at your job or a successful independent professional, you might also have a fear of handling your money.
Starting your own business can be an exciting undertaking! And, if all goes according to plan, a prosperous one. However, research shows that only half of new businesses last longer than five years – an indication that careful planning and preparation is required if you want your business to make it in the long run.
As an independent financial adviser with a passion for your work, you care about your clients and their financial wellbeing. That’s why it’s truly frustrating when you have a client who ignores your advice, even when it is clear that you have spent time, energy, and expertise on customised investment and insurance solutions designed to improve their financial situation.
If you’re just starting out in your career, you’re going to find yourself faced with more financial decisions that ever before. Decisions that can have an impact on your wealth throughout your life, right into retirement. As daunting as that sounds, the truth is that most financial mistakes are committed by those starting out, preventing them from achieving the financial independence they crave.
If you’ve worked with an older financial adviser or the same financial adviser for years, you might find yourself facing their retirement. A lot can ride on this decision, especially if you are facing a financial shift in your working or personal life, such as a promotion, growing family, or even a retirement of your own. So what should you do?
Are you planning to retire or is it time to move on from your financial practice to something else? Whatever the reason, succession planning is an important part of this process. If you are leaving your financial practice, you have to ask – what will I do with my book of business? If you are planning to sell it, it’s important to carefully consider all the options.
Sometimes (and, hopefully, not often), you find that a client relationship no longer works or is as functional as it once was. Perhaps you shouldn’t have taken them on in the first place, your client base has shifted, the client makes unreasonable demands, or you no longer agree on how best to manage their finances.
We’ve recently written two blog posts on the questions a new client might ask you (read them here and here) but we all know that most clients have more than just six questions they want answers to before agreeing to work with a new financial adviser. And, no matter how many years you’ve been in the business, if you want to secure that client, you need to be prepared with well-thought-out answers.
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