Globalization and the Information Revolution is rapidly changing economies all over the world. What is the lasting impact on a career in Financial Advisory?
Three significant changes have a lasting impact on how Financial Planning will be conducted in the future.
The actual role of a Financial Adviser is to assist their clients in making good financial decisions in order to meet their life goals. It involves a process of gathering client financial data, analyzing and then making recommendations so that the client can make informed choices. It does not stop there. The process should also involve implementation, periodic review and monitoring. This is the Practice role of the Financial Adviser, just like attending to patients is the practice role of a doctor. Can you imagine a doctor giving you medicine before proper diagnosis?
It’s a shame that most people’s contact with a financial adviser or financial planner has been limited to an eventual purchase of a financial product. There is more to it than that. The product-pushing practices have caused much disrepute to the profession of a Financial Planner or Financial Adviser. Read it all..
