Research by the Wharton School of Business asked what clients of financial planners deemed the most important aspects of their professional relationship. The top 3 were: Trust, understanding of the family’s needs and goals, and the advisor’s communication practices.
Research also shows that advised households have more confidence in their future than households that do not have a financial planner, and that they have at least 2 times more assets over long time period.
Portfolio rebalancing, financial planning, behavioral coaching, and efficient drawdown of capital(such as from an RESP or RRSP), has been proven to add several percentage points to an advised household’s return over time. There are also many immeasurable intangibles that can add value to a client’s overall financial health, for example tracking/monitoring investments, research, goal setting, discipline, and education, navigating tax and investment regulations, and accessing government benefits.
An engaged and interested client will get the best and most relevant advice from me. I consider it a privilege that you have given me the responsibility of your financial well being and future. Here are some of the remarks I remember from our many conversations:
I appreciate that we work as a team.
You help us pay attention to our finances as we should.
I have hope for the future because you helped me get and stay out of debt.
Thanks for taking care of my mom, that helps me sleep better at night.
I have less stress and worry about my finances because I don’t have time to do it all myself.
Thanks for keeping us on track.
I appreciate that you make dealing with our finances less stressful, and with more hope.
Your success is the primary motivation for the work I do!