Bruce Wilson to step down as Helm Godfrey managing director
Bruce Wilson is stepping down as Helm Godfrey managing director in January 2011 to concentrate on financial planning service Project Eve.
This week’s Money Marketing reveals he will still advise at the firm but will spend most of his time on Project Eve, which he co-founded to promote George Kinder’s life planning concept to lower-income groups. Read more
Two years ago, I attended George Kinder’s two-day life-planning workshop and wrote a column about it. I was forced to admit that I had lost all my journalistic objectivity about Kinder’s life planning model. I took sides. Not silently but with great enthusiasm. Read More
The focus of the financial planning world should be firmly on consumers and their needs, and if we want mass market appeal, we must offer a framework that gives them easy access to our services, writes Nick Cann of the Institute of Financial Planning. Read more
Every year, in conjunction with the FPA National Conference, I invite a select few industry thought leaders to join me for a round table discussion. The topic varies from year to year, based on perceptions of what’s important for RIAs and other independent financial advisors to hear and think about. The most recent Thought Leaders’ Round Table, held October 10, 2010 in Denver, Colorado, did not disappoint. Download the round table discussion On Rebuilding Trust: Download PDF
An all-star panel of industry personalities gathered at the FPA annual conference for a frank discussion of how new fiduciary standards might impact the advisor industry and day-to-day business. Read more
The misconception that financial planning is only for the wealthy leaves too many people floundering about like Dickens’ Mr Micawber – people who rely on some kind of good fortune just ‘turning up’, says Diane Weitz of Ashlea Financial Planning. Read more
When Bloomberg Wealth Manager magazine was launched in September 1999, I wrote a cover story called “How To Fire A Client.” This idea certainly didn’t originate with me. But over the last decade, it’s become what I call, for lack of a better word, one of the “truisms” of financial planning: Every year you should fire your least profitable clients. Read more
Let’s compare two different people: one wins $1 million in the lottery, the other has an accident and loses the use of his legs. Which one will be happier with their life 12 months after these events? That’s easy. The lottery winner, right? In fact, research of actual Illinois State lottery winners and new paraplegics reveals an astonishing result. Members of both groups are equally happy with their lives a year later. Honestly! This wasn’t just one quirky bit of research, either. Dozens and dozens of well-designed studies have reached the same conclusion: We don’t have a very firm grasp on what truly makes us happy. Read more
Financial planners placing bigger emphasis on client’s values, life goals
Finance may be all about the numbers, but over the last 15 years, more and more financial planners aren’t starting with spreadsheets. Instead, they are delving into their clients’ emotions, values and hidden goals in a process that has become known as “life planning.” Read more
You’re at the stage of life when you’re thinking of hiring someone, or someone new, to help you with your money. Set your standards high. You want a no-nonsense person or group that has years of experience working for savvy people. You want sound judgments, sensitivity—and a track record of results. Take the growing area of “life planning” or “holistic financial planning.” The emphasis is on your personal priorities and well-being. Your investments are part of the program, but their role is to support whatever you want to achieve, such as retiring on schedule, changing your career, owning rental property, keeping an old beach house in the family, endowing a scholarship fund, buying into a baseball team, or anything and everything else. If instead you want you and your family to be the focus, invest in the services of a planner who thinks that way. Look for a registered life planner with the Kinder Institute, whose founder, George Kinder, was one of the first people to distinguish matters of the portfolio from matters of the heart and mind. Read more.