Financial planning is the best job in the world. Most consumers – and sadly far too many advisers – don’t know what real financial planning is. There’s a world of difference between the old floggers of pensions and ISAs, and professional financial planning that takes care of clients and helps them live their best lives. The best fund is not going to change your life. But proper financial planning most definitely will.
Here at PenLife we are way more interested in our clients’ lives than we are their money. Proper financial planning doesn’t depend on the sale of a financial product. These are merely tools to help get the job done. We could never advise clients on their money under we have a deep and rich understanding of their needs, their goals, their hopes and fears and their dreams.
There are three distinct parts to a professional financial planners job:
1. Life Planning
We are genuinely interested in our clients and their story. We need to know them really well to do our job properly. We need to know where they are now in their life, and how they got there. What sort of life they have now and what sort of life they want to have in the future.
2. Financial Planning
We have to tell people the truth about money. We need to be honest about what needs to happen for them to get and keep the life they say they want.
3. Financial Advice
This is the third and least important part of our job. It involves finding the right product or investment, if one is necessary, to get the job done.
Your money is there to serve your life, not the other way around. And done properly, financial planning is the most rewarding job in the world. A job that allows clients to get and keep the ideal life they want. And that’s why our advisers skip to work in the morning and dance home again at night.