Moneyology: a 100-week ‘journey’ to life planning

It would be interesting to know how much he charges for this "journey"

I'll bet it's a very expensive ride, available to only a privileged few.

What a load of old rubbish! Who in their right mind is going to pay good money to someone who presumably has no professional qualifications whatsoever? I would rather listen to a Cheryl Cole LP the whole way through than consult this firm.

At a minimum, £100 an hour for 100 hours for 100 clients is £1 million in the bank for Mr. Sweeney.

Surely not the whole way through....can anything be that bad?

Good Luck Brian. I have enjoyed many of your talks at the CII over the years. I look forward to sharing ideas with you. I have also been prvilaged to meet with George and indeed more recently Maria.

Best

Mark Hassall

No regulatory costs - he's been inside and decided the best way to make money is outside the framework.

Unique - no - I'm sure we all explore life goals along with financial planning issue which are intertwined.

Even stole from Manic Street Preachers tune 'Design (ed) for life'.

Britains answer to US life planners?Citywire behave yourselves - you must have had a good lunch together.

Is Cheryl Cole an IFA too then?

Why is this bad, it is a good idea and another serves that could be offered by many IFA's.

Many years ago I purchased Anthony Robins CD's and whilst there were areas I disagreed with (a little to much USA RaRA for my liking) there was a lot (80% plus) of very good information. It certainly changed how I approached my life.

I would say do not knock what you do not understand or have not tried yourself. Our mind is the worlds best computer, but unfortunately it does not come with a user manual.

I'm off to dig out those CD's as I think they may come in handy over the next 18 months.

Dear Philip Brown

May I suggest that you undertake some research before spouting about lack of qualifications - although Mr Sweeney can undoubtedly speak for himself, it may interest you to learn that he does have a few under his belt and therefore in a position to offer such a service -

Brian Sweeney MBA, FCIM, FISMM, MCMI, CFP, JP

As in most issues to do with Financial Services and its implementation, those who do not actually sit face to face with clients and operate under the draconian regulatory regime now imposed upon us, talk the talk, but frankly cannot demonstrate their competancy to advise clients on financial planning.

Any unregulated individual can say to a client that they need to save for retirement and the various methods of doing this are in a generic sense, but to actuor protect their families from financial disaster due to death or disability, they need to get down and dirty and plan that the clients needs can be met by using appropriate and suitable regulated products and services has no efficacy as to how the IFA sector is going to operate in the future,

Any client who wants to be educated in Financial Planning, can simply attend the numerous courses in this subject available via their local colleges, but when it comes down to it, the design and implementation of a specific financial plan of action has to be addressed as to how best to go about it. For that you need an informed, competant, ethical and honest IFA.

I have no doubt that Mr Sweeney has qualifications to do something he is proposing, but if he is not prepared to put his neck, reputation and livelihood on the line as the regulator expects us to, he is commenting from the lofty distances of the ill informed and unregulated pinnacles of desperation to ostensibly make a living out of the hapless individuals who engage him.

Best to leave the areas of financial planning and advice to those qualified and regulated to do so, the majority of which are hard working, honourable, ethical and honest IFAs, the most trusted sector or our industry by the public, a shame the public has not been considered in all this broo ha ha which the RDR has become.

I started out quite interested in this concept, but the second half of the article left me feeling more and more brain dead. Mr Sweeney would appear to be amongst the worst examples of Americanism's. I wonder what he's like at faith healing - actually there's a concept he might 'embrace' - faith planning!

Im going to call myself " the middle path budha life ( or is it life's) planner wealth coach adviser....leave alone im trademarketing it!

I've not analysed Mr Sweeney's propostion or his charges so cannot comment specifically on his offering but i definitely think we have a shift in the market for advice going on and there are risks in ignoring this.

The supply of good quality financial planners is woefully short of the need in the UK - albeit that the need is different to "demand" due to continued low levels of consumer perception. This this has driven the cost of such planning into the stratosphere where it is now out of reach of all but the top c1% of the population. And the compeition for this group's wallet grows with every day.

Meanwhile - back on planet majority - The needs of the many (around Debt reduction and making a start on savings / wealth accumulation) are largely ignored or poorly serviced.

Then there are the few - the top 5 or 10% or so with modest wealth where - under the prevailing current models - the total cost of product and advice (typically 4-5% total initial plus 2% +pa total annual) demolish the likely return premium from risk based investment.

Where do all these people go if not to a reasonably priced and personal (as opposed to college course) "financial coaching / mentoring" service ?

In the event that the solutions to their financial problems might include some form of regulated investment then the client has the option of DIY (which post RDR might yield much better prices) or to refine his plan and implement through a regulated adviser - who i'd hope might offer a discount to normal pricing if much of the front end thinking has been done (professionally) elsewhere.

Of course the ideal business is a one stop shop and a regulated one.

But the supply is simply not there and advisers do not have the time for this coaching and mentoring service at a reasonable cost up front unless it is paid for by expensive product at the back end.

I accept that there are some advisers doing a great job in this space already and I applaud you but you must know that you are in the minority.

I believe a large gap exists for more to join you and would welcome further discussion (offline) to develop this concept.

You can find me on linked in

Brian was the trainer on my CFP 4 day course and proved he knew exactly what he was talking about. Met him a few times since and have listened to his seminars too. This industry needs innovation and this is something different so carry on Brian. Whilst not being the Messiah you're not a very naughty boy! Couldn't resist!