{"id":529,"date":"2018-09-10T11:00:53","date_gmt":"2018-09-10T11:00:53","guid":{"rendered":"http:\/\/192.168.1.104\/enfold-blog\/?p=55"},"modified":"2021-06-01T23:28:01","modified_gmt":"2021-06-01T23:28:01","slug":"clients-expect-their-advisor-to-advice","status":"publish","type":"post","link":"https:\/\/www.myfinancialfuture.ca\/welcome\/clients-expect-their-advisor-to-advice\/","title":{"rendered":"The future of advice is in financial planning"},"content":{"rendered":"<h1><b>The clients expect their advisor to advise.<\/b><\/h1>\n<p><span style=\"font-weight: 400;\">Regulators continue to add regulation. It was about 10 year ago that <\/span><b>Know your client document<\/b><span style=\"font-weight: 400;\">\u00a0(i.e.<\/span><span style=\"font-weight: 400;\">\u00a0&#8216;KYC&#8217;) <\/span><span style=\"font-weight: 400;\">\u00a0was about one page long. Now it&#8217;s like a book. We recently heard of an advisor&#8217;s client who was reading the full agreement from their custodian, it was 147 pages long. It seems that the regulators want advisors to regulate, however, <\/span><b>the clients expect their advisor to advise.<\/b><span style=\"font-weight: 400;\"> In order to make both parties happy advisors need tools that simplify the process for them but also adds a great deal of value to the client.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Financial planning is taking an increasingly important role in financial advisors\u2019 menu of services offered to clients.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For Cary List, President and CEO of the <\/span><b>Financial Planning Standards Council<\/b><span style=\"font-weight: 400;\"> (FPSC), advisors\u2019 increasing attention to financial planning comes at no surprise.<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">\u201cThere\u2019s growing recognition and acceptance <\/span><span style=\"font-weight: 400;\">\u2013 <\/span><span style=\"font-weight: 400;\">both by advisors on the ground and at the corporate level <\/span><span style=\"font-weight: 400;\">\u2013 <\/span><b>that the future of advice is in financial planning<\/b><span style=\"font-weight: 400;\">\u2026.but we have to stop talking about financial planning as a process, [You] have to start talking in the language that the client is going to buy into.\u201d <\/span><\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Many advisors stated that they need simplified software tools, that are easy to understand, and include simplified training support, to be able to bring simplicity to complex issues. <\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b>My Financial Future is built to do exactly that.\u00a0<\/b>It is easy to enter client data, simple to use\u00a0and provides tremendous amount of value to clients including:\u00a0online access, seeing their\u00a0financial growth over time\u00a0and knowing how they are\u00a0progressing to their retirement goal.<\/p>\n<p>&nbsp;<\/p>\n<p>The duty of financial planners is to help clients live your life with greater certainty around their finances and how they are prepared for the future.<\/p>\n<p>&nbsp;<\/p>\n<p><!--more--><\/p>\n<p>Resource credit for this blog post:<\/p>\n<p><a href=\"https:\/\/www.investmentexecutive.com\/\">Investment Executive, Advisor Report Card<\/a> (Anthony Burton, September 2018)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The clients expect their advisor to advise. Regulators continue to add regulation. It was about 10 year ago that Know your client document\u00a0(i.e.\u00a0&#8216;KYC&#8217;) \u00a0was about one page long. Now it&#8217;s like a book. We recently heard of an advisor&#8217;s client who was reading the full agreement from their custodian, it was 147 pages long. It [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1090,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,15],"tags":[27,24,25,43,45,44],"class_list":["post-529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-planning","category-news","tag-financial-advisor","tag-financial-planning","tag-financial-software","tag-investment-executive","tag-my-financial-future","tag-planning-support"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\r\n<title>The future of advice is in financial planning | My Financial Future Software<\/title>\r\n<meta name=\"description\" content=\"Firms are making a concerted effort to provide the necessary support and software advisors need this days. 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