Financial adviser, financial planner, wealth manager, wealth planner, investment manager?
I have been referred to, and explained my job, as all of the above. In truth, it really doesn’t matter!
Having the qualifications and experience to attain any of those titles is one thing, but to do the day-to-day job takes so much more.
In fact, the job is very simple. It is to understand what is important to clients and help shape their finances to achieve it, in essence to provide Clarity, Confidence and Simplicity to ensure their goals can be met.
The process of doing so is not simple. It requires lots of questions, understanding a wide range of financial products and the way they interact, a deep understanding of the investment world, management of behaviours and emotions, modelling and stress testing, proactive and reactive responses to changes in tax and legislation – the list could go on.
A good adviser (planner, manager!) will have the ability to distil the very complex moving parts of a client’s finances into a plan. A plan that is simple, removes the complexity and is easy to understand.
I gather feedback from my clients regularly and it is clear to me that clients value Clarity, Confidence and Simplicity:
“He is very approachable; he is efficient and is patient when it comes to explaining things to me in a way that I can understand.”
“Alister was able to guide me through the many complexities this subject matter brings but more importantly, in a way that was accessible to me according to my financial experience / knowledge.”
“He gave information and advice with patience and in understandable language.”
“Alister has provided an excellent service and have enabled me to get a much better understanding of my financial future. I now have the financial flexibility, visibility and control over my funds since I followed Alister’s advice.”
“Alister talked me through a range of options and we discussed which were best suited to my needs for now and in the future. I am very happy with the advice I received and Alister is supporting me on this pathway. This is an ongoing process of planning and review and Alister is always happy to make himself available to address any thoughts or concerns.”
My goal is to strive for simplicity, to remove the smoke and mirrors associated with financial advice.
We should beware of those who add complexity and seek to build themselves up by over-complicating things.
The advice process should always be about the client and never about the person giving the advice.
Trust can sometimes come from a person’s title, qualifications and experience but a real relationship comes from understanding and removal of the over-complicated.
People will often come to me because they do not feel they have control over their finances. It is a subject that some pay little attention to until they have to.
By spending time understanding their situation and the jigsaw pieces they have at their disposable, I can help them create the big picture they are looking for.
“The ability to simplify means to eliminate the unnecessary so that the necessary may speak” – Hans Hoffman