Helping someone realise they can work because they want to, not because they have to, is incredibly empowering. Often, once someone is shown they are financially independent, they begin to enjoy work more than ever, free in the knowledge they can stop whenever they want, on their own terms.
'There's a movement going on in the world of financial planning. A movement away from calculators, products and spreadsheets; towards emotional connection, engagement and experience. As the profession continues to evolve, so too does the way we operate as financial planning professionals and businesses.' Here, I share a personal story to help illustrate the power of emotional connection in client engagement.
Many people feel they may have a good, solid financial foundation. They save and invest their money regularly and have built up a reasonable amount of wealth over their careers. Perhaps they have recently come into money through an inheritance of the sale of a business or shares. They have a good idea of where they are and how they got there, but until they begin to set out their goals for the future; what they want to achieve and how and when they want to achieve it, do they really have a plan?
Nick Murray's books, newsletters and talks have had a major impact on my career and influenced many of the ways I practice the art of financial planning and client communication. Here, I have compiled a list of his wisest, most salient quotes and phrases.
If a country’s financial persona could be summed up succinctly, the UK’s would most certainly be defined by our obsession with property, home ownership and mortgages.
'The great financial planners are students of history. They take the countless lessons from the past and use them to contextualise the here and now, in order to help people make better long-term decisions for them and their families.'