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It is very rare that get
rich quick schemes work. This is why financial
planning should always be treated as a long term
campaign. This doesn’t mean that all your
financial planning efforts should be geared for
your retirement. You should have milestones
along the way so you enjoy your riches
throughout the course of your life.
For this to occur though,
you need to choose a financial planning group
that understands you. You, your goals, your
situation and all the possible ways of getting
there. A financial planner must be a
relationship builder. Not only must they
establish where you are at the beginning but
they should also keep track where you are at any
particular time of your life.
If you have lost your job,
have had a promotion, are expecting children,
are moving house, your financial planner should
know this and potentially counsel you through
each situation. It is easy for a client to
succumb to the temptation of television
advertising or glossy magazine editorials about
the next great investment. A great financial
planner will take this information in account
and review your financial plan accordingly.
Review periods are important in the relationship
building exercise for exactly this reason.
Let’s not forget ten years
ago, mobile phones and laptop computers were
rarities even among businessmen and countries
like India and China had no global impact. The
world changes fast and we take note. The
financial planning industry is increasingly
aware of this and knows that to maintain strong
relationships and maintain business it needs to
adapt.
Financial planning is
becoming a more web savvy industry with more
newsletters, more reports and more commentary
being issued than ever before. Financial
planners realize that the public are listening
to commentators they have no rapport with. If
they did the same thing, the audience is more
likely to listen because they know them. If a
relationship is there to be built then build it.
This can only benefit financial planners and the
public alike.
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