Goals-based advice approaches needs a significant re-think if it is to produce consistent, methodical returns for your clients and your advice firm.
Used in the wrong hands for the wrong purposes***, goals-based advice will only add more fuel to the existing flames of distrust, that professional financial advisers work hard at avoiding.
Fundamentally, we help clients lead better financial lives.
If we want to deliver valuable advice every year, not only initial years, our advice has to be more than just problem solving, it has to also be problem-finding.
Just as our doctors order medical tests to exclude health surprises, goals-based advice needs to be based upon a belief that advice teams can’t afford to make assumptions – but what does this mean in practice?
A lot – much of which is missed with many existing goals-based advice approaches. If goals-based advice is an approach you are mastering, or tinkering with in your firm, join me on my next free 40 minute webinar – The Secrets of Effective and Purposeful Goals Conversations – next Thursday 22nd March at Noon (Sydney-time) where I’ll share the approach, the beliefs, techniques and templates to save you time and increase your clients returns and your own.