It’s true: our financial planning is different. This is not a product endorsement, even if I’m referring to our Personal Financial Planning platform; rather, it’s a philosophy that move us through design, development, and delivery of the product. Could be any other product, because it’s the underlining philosophy that counts.
We think that true financial planning shouldn’t limit to investment advice and suggestion, but should instead cover the whole lifecycle of needs for the client and his/her family; a client’s needs are often family needs. And this must inspire us to design a different financial planning, in a positive sense.
Financial Planning as Support of the Advisor
Everyone can say how to optimize your portfolio, or hinting to the right stock to buy or sell; but, how many financial planners can support your whole life as a client, make realistic proposals, tell you if your life goals are actually sustainable, and taking the necessary steps to make them sustainable if they don’t? Not everyone.
Our approach to financial planning make us develop products that support an advisor in managing a different model of conversation with the client, a model that involves giving the advisor the right tools to show the client which choices are the right ones. At that point, selling the product ceases to be the problem, to become the natural consequence of a conversation and a relationship with the client instead.
From Finance to Life, and Back
This goes way beyond the mere financial analysis, because planning involves building a life scenario, one of the several scenarios the client could pursue without an advice, based on optimizations of good life choices and alternatives when the choices aren’t so good.
Thinking about coming college years, widen a portfolio, life after retirement are components of a financial planning scenario with equivalent weight, where the final goal is either raising one’s net worth and satisfy the consequent needs.
All this while looking at the possible scenarios starting from reality, since no, Michele, this life scenario is not executable: you cannot get a Ferrari. For now, at least.