Why (I believe) most peoples one word description of financial advice is completely wrong

 In Business, Change, Employer Duties, Financial, Making Choices, Personal, Professional Development

I was standing in front of a small crowd of people and I had a question…

“So,” I say “In one word, What does a financial adviser do?”

I went around the room. The audience was small (about a dozen people) and I could have predicted the answers I’d receive…

“Pensions” was one reply

“Investments.” was another

“SIPPs” was another…

“You set up financial products for people.” was the last one slightly breaking the ‘one word’ rule…

“All great guesses” I continued “However if I were to be clear about what we do for people I’d explain it differently…”

I clicked the mouse in my hand and one word popped up on the big screen…


The audience looked confused. I’m not sure what word they expected to see on the screen but it certainly wasn’t “Clarity”

“The reality” I explained “is good financial advice (or planning) should be focused on helping individuals get clear on a few things…”

“First we help our clients get clear on what they want….”

“Next we help our clients get clear on what they’ve got…

“And finally we help our clients get clear on what action they need to take (if any) to get there…”

There were a few understanding nods in the room.

“You see I don’t think good financial planning isn’t about products….financial products are just the vehicle to help you get to a destination! What’s really important is to be clear where you’re heading to, where you are now and the action you need to navigate to the idea destination.”

“You see I believe good financial planning should be primarily focused on the person….and the reason why a lot of the most valuable work we do with clients is done before we talk about pensions, investment, SIPPs or any other financial product.”

There were nods in the room as I moved to my next point….

However let me, dear reader, make a recommendation to you.

If you’re looking for financial advice do your best to choose someone who is focused on your goals, hopes, dreams and aspirations….not on pensions, investments, SIPPS and ‘selling a financial product’

True financial advice or planning should be people not product focused…

…if you want to understand how we do this feel free to contact us to find out how we work  feel free to get in touch on 01708 606 202 or hello@cervellofp.co.uk

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