Having come from the Financial Industry –(Industry implies product manufacturing which is what a typical financial advisor sells to make money), we worked for a long time in this area and we were pretty successful, however we slowly discovered that clients didn’t really care too much about hearing about products. We had lost interest in what we did for a living, we were just like all the Financial sales robots. It was not enough for us, financial success does not make you content and certainly does not help your clients.
So we started digging deeper into our “Industry” to find out how could we use our vast experience in finance to help our clients get what they want and not what we want.
We discovered Lifestyle Financial Planning and the complete lack of awareness within our Industry. We took time off to learn really clever financial planning software that our clients have loved since we introduced this new service.
Now things are really different.
The reaction from us as advisors is we absolutely love what we do now. We now get to see the differences we have made to our clients lives, and the differences we will make, even before they retire, just the knowing that they will be ok financially. Being able to show someone that they will have enough if they retire 5 years earlier or want to travel the world before they are too old to, that’s much more interesting to show clients.
Clients reactions are typically a combination of relief- that they know they will be ok financially and a sense of urgency that maybe they should be doing the stuff that important to them now rather than waiting for an opportunity that may never appear.
Don’t get me wrong, not everyone is in this category however a typical client that likes dealing with us will earn an above average salary, most likely be married and will have accumulated at least €250,000 in assets (Pension, investment, savings).