But while these can have professional advantages, they don’t always paint the full picture.
Sure, qualifications give planners the ability to enter the profession, but exams don’t teach them about the subtleties of working with people. Only empathy, a client-centric approach and great listening skills can do that.
The more time a planner spends with people, the easier it is to hone their craft and offer a memorable and life-changing service.
So what does this mean for you? When choosing a financial planner, what should you be looking for?
You need someone who can break down complex financial topics in a way that you understand, translating any jargon into plain English.
If you have an MSc in Finance, the last thing you need is a planner who acts like they’re teaching a fish how to swim. Whereas if you have little finance knowledge, you want your planner to tell you what you need to know without overcomplicating things.
Find someone who asks all the right questions and listens to what you have to say. By learning as much as they can about you and your aspirations for the future, your planner can meet you where you are.
Very few people get as excited about numbers as those who work in finance. For the average person, money isn’t about figures and maths. It’s about how it can transform their life and give them freedom and flexibility. The best financial planners know this and instead of throwing numbers around, they’ll find interesting ways to explain the journey from point A to point B.
While it may take a few meetings before you get to know one another, over time your financial planner should learn exactly what it takes to bring out the best in you. They should inspire you to take action and make you eager to get started on your financial journey.
In some industries, it doesn’t pay to be loyal. Take energy and broadband providers, for example. They offer the best deals to new customers while those who’ve stuck around for many years get forgotten about. The longer you stay, the less value for money you get.
In financial planning, however, you’re looking for someone who’ll commit to you for the long haul without neglecting you as time goes on. The longer you stay with your planner, the better. You need someone who gets to know you and your changing needs over the years. Someone who learns the names of your children, asks whether they passed their driving tests and remembers which courses they’re studying at university. Or even remembers how you like your tea.
Meeting with your planner should be a ritual you look forward to. It shouldn’t be something you dread. If you delay picking up the phone because every conversation with them sends you to sleep, you deserve better.
If you leave each meeting with a smile on your face, a spring in your step and a fresh perspective, you’re more likely to follow through with the plan you’ve been given. In a previous article, we talked about how professional financial advice can support emotional wellbeing, so is it not worth getting it right?
If you’re disappointed with their work or there’s no spark, find a better fit. It doesn’t matter if they have a list of qualifications as long as their arm. What matters is that you get along and they treat you as a person rather than a number.
A financial planner who helps you achieve your goals and put your money to good use can be worth their weight in gold. Having a good relationship with them is priceless.
Please contact us if you’d like to arrange a meeting to discuss how financial advice can help you and improve your wellbeing.
