Are you too scared to make clients cry?

Fine if you're able to operate at that end of the market, but chances are the answers to these questions will be:-

1. None of your business,

2. I've only got a budget of £200 p.m. and

3. Let's try to keep things simple, eh?

Yes you are - big time.

It really pays to get real like this. Both for the client and me as their advocate.

Far more interesting than the usual adviser out there trying to sell product that in many cases clients dont need.

How many advisers/product salespeople have the integrity to become life planners?

Bobby Robson standards - not Diego Maradonna - anyone?

Advocate is an interesting way of describing yourself. I looked up the dictionary definition: -

'someone who publicly supports something'

What or whom are you publicly supporting, as a financial adviser?

I find a good ice breaker is to ask to see the clients current retirement provision and then we all have a good laugh at how inadequate it usually is. Well at least I get a good laugh out of it.

All the dreams in the world based on "what ifs" still stall at the point of how much they can afford and you can paint as many grim pictures as you want it will not change fundamental economics for most people.

As to integrity and Life planning being somehow in the same sentence, I would suggest that any IFA who routinely made his clients cry might be accused of a very hard and cold sell indeed although in a very Life planning way of course. I prefer an actual wince than floods of tears, if its floods of tears we are usually too late to assist in correcting the issue.

How about this:

Same doctor, another question: You will live forever ta-da! However you will have an insufficient pension fund to support you and you will be destined to a life of pain and disillusion - what will you do?

I know what I would do....change doctors. I can't see why anyone would cry at these questions no matter how you dress them up. Death and taxes as Franklin once said....death and taxes.

I have tried to get to grips with this Kinder stuff, but I find it too naff for words. I like to believe that my clients are sentient human beings not refugees from some American soap opera. If IFAs want to be counsellors then that’s fine if their clients are daft enough to want to pay for it.

And yes – I have made clients cry. Many is the time that I have had to pass round the tissues. Not because I’m ‘drawing up the hearse to let them smell the flowers’ but because I sometimes have to get them to face an unpalatable truth. ‘No you cannot afford this’ (mortgage or whatever), ‘no – if you proceed like this it would be most unwise’ and so forth. I find it is the word ‘no’ that most often turns on the waterworks, but in the end (in most cases) sense prevails.

I've had two years of clients crying - when they see their valuations. That's enough tears for now thanks!!

Job Titles:

New Model Adviser

Life Planner

Financial Planner

IFA

Advocate ??

Wealth Manager

Holistic Adviser

Me thinks we might have problems explaining what we do..

Cottage Industry purveyors anybody

.... is this anybetter,having read the last two profiles in the new model magazine..me looking for new career

Mr Fish

I like you was intrigued by some of the recent NMA Adviser profiles. Intrigued is polite -christmas cheer.

That said it does take some kind of 'bravery' to tell your story to your peers - I am not sure it is useful to the Presenter if those you are informing are not your natural customer base.

I did find myself drifting over the 3 questions having a pint - and each answer was welcomed by lets have another one.

Thought provoking and thirsty work.

Ah indeed |||| all of a sudden memories of the milliion dollar round table comes to mind - we are but life assurance salespeople dressed up in different titles today, but the power of the life assurance salesperson and provider is as relevent today as ever - who else could eradicate poverty in one or two generations - who else assist the sick/ill, disabled and retired the widows the widowers and, of course, the children of all of the above - take a good look at yourself in the mirror and ask of yourself the questions posed - even if you are only a poor poor client of Julian stevens "Hmmmmmm", a secure protected future can be assured if your clients are man enough to make to right call - maybe our newly found "Nanny State" could now introduce compulsary Life Assurance PHI & Crit/Ill protection - yee ha

Arr Robert

I forgot that one, me mate Mr JF Pants flogged loads of that.

He retired looking after the widows

This reminds me of an old colleague who had been a L&G direct sales person in the 80's. He claimed to have cut the husbands head out of client family pictures and then said "who will pay the bills now hes dead" in order to sell protection. I am sure this lead to some tears (and probably the formation of the PIA!), but I don't recall anybody describing him as a "life planner".

Back the hearse up to the door and show them the video of the widow's story - works every time and you make a fortune ! To hell with advice just tell it like it is because thats why we are here-all the investment stuff came later when some whanabees couldn't cut it on the doorstep.

Reading many of these comments is sad and I am disappointed that some people who advise the public are prepared to make comments about something they obviously know nothing about. OK a little cynicism is fine and I am often first in line but cheap remarks are inappropriate. Some of the comments I want to distance myself from as far as I can go so when I read “what we do” please don’t include me in what “you do”. The fact is we all do different things and if you choose the product sales route and it’s what your client wants you are fulfilling a useful function. Personally I wanted to go much deeper and am seeking out clients who think likewise. In the same way that Julian’s £200 a month client would say “none of your business” my clients would be very unsatisfied with what he says he offers. I can’t understand the comment about MDRT because being a Life Planner and an MDRT member can go very well together – perhaps Robert contributed to the wrong blog by mistake? And John your 1980’s L&G sales person was not a life planner – he may have done a very useful and necessary job but please don’t confuse.

Gavin’s article deserved more than these comments. Kinder at the PFS Conference was one of the highlights of my year as well. Gavin do yourself a favour and don’t “duck out” the next time, better still go to the two day workshop and really get some depth and personal benefit from George’s approach.

I never cease to be amazed at the range of responses to any article about George Kinder.

Here's mine - In short, throughout my 31 years in the industry, I've never seen anything quite so exciting as what George is bringing to the table.

The opportunity to make financial planning significantly more relevant and important in people's lives is surely highly compelling?

If you want to learn more about this mumbo jumbo, you can ask questions at http://www.ifalife.com/lifeplanning

Philip Calvert

IFA Life

Spot on with your comments.

Really making a difference in clients lives is very rewarding.

I am an advocate (thanks Jeff) of Kinder and the like.

Its also interesting to see others judging Life Planners by their own standards.

A Financial Adviser is just that, someone who gives financial advice to a client. This can be wealth creation, increasing a pensioners income, IHT planning, long term care planning, savings for your childrens future, planning for retirement or protection of ones family.

From my point of view we have an opportunity to make a huge difference to our clients lives. Being honest with our clients and disturbing them is the right thing to do. If you deal with all age groups and financial positions to duck out on the hard truths of life is to be just another Bond Jockey. Are you just a sales person or are you a professional planner of peoples financial lives?

I am sure you all have examples of clients whose whole world has fallen down around them and had no cover, and stories the exact opposite. I feel it is better to show the world warts and all to your clients rather than the much easier see no evil, hear no evil, speak no evil approach.

Do you advise people, or just flog policies?

Many years ago I used to work for Britannic Assurance. There one of the trainers told our class that he was an insurance salesman and proud of it! He recounted many clients lives he had effected in a positive way and made an impression that has lasted throughout my career.

Protection of the family matters above everything we do!

PRISM- Protection, Retirement, Investment, Savings and Mortgage.

Remember that?

.But one of your "chartered" Life Planners sold a new client of mine one of those cautious Cru INVESTMENTS

How about A BUDDHA PLANNER.....

I'm with Julian & Harry, why make life more complex. What we do is relatively simple, our clients either like/respect us as Advisers or they don't. If they do they listen to us, if not they don't. Simple.

Isn't Life Planning a bit like the Emperors New Clothes...

I agree with Graeme, Alan and Phil. It is very sad that people on this blog denigrate what they don't understand. It is not simply a case of calling yourself something different, you have to practice differently!

It is clear we have all of the following 'contributing' to this blog:

Product Salespersons

Financial Advisers

Financial Planners

Lifestyle Financial Planners

These are all different careers, each with their own merits. I see each of those listed a rank higher than the previous, if only because the education and training needs are progresssively higher and tougher. While each provides a worthwhile and honourable service to the community, strangely, members of eack rank appear to want to denigrate the level(s) above and below them!

Why?

Its obvious not everyone wants to reach the pinnacle of Lifestyle Financial Planner. And lets be realistic, it may currently be beyond many of the 'contributors', particularly if they are struggling to meet RDR qualifications.

I assume that last comment is a subliminal promotion for www.pinnacle.co.uk - purveyors of protection.

Your list simply identifies some different approaches to the same end. An opinion on whether these differences provide better or worse outcomes is extremely subjective.

Sometimes comments are so pompous that they simply receive the responses they merit.

Mick what about me!!

Im a buddha adviser