Financial Guides

Levin, Ross
July 2003
Journal of Financial Planning;Jul2003, Vol. 16 Issue 7, p24
Academic Journal
In this article, the author shares the lesson he learned about financial planning during a travel to Costa Rica. We were spending two weeks in Costa Rica over spring break. Our guide, Adrian, met us at the airport and told us he was going to be with us for the first eight days of the trip. When I started in this business, my initial meetings were almost always about proving what I knew rather than determining what the client really wanted. I am reminded of one prospect who came to my office after meeting with another financial planner who had said he was the only financial planner around who invested tax-efficiently. One of the advantages of using a guide is that they see things we naturally miss. This is the same as we do in our business. Our clients may be looking for a top-performing mutual fund while we focus on what an appropriate investment policy needs to be to meet their goals. The last part of our trip was without a guide, although we did have access to people who could take us bird watching or hiking, It became much a different trip. People can choose to self-guide their financial planning. People can choose to work with planners or programs that do not necessarily understand their individual needs.


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