Don't 'Bridge the Gulf'--Meet in the Middle!

Del Valle, Ronna
June 2005
Journal of Financial Planning;Jun2005, Vol. 18 Issue 6, p14
Academic Journal
The article gives advice to financial planners on managing expectations in the financial planning practice. As planners, one of our most important skills should be managing expectations. This skill is key in working with clients. It is also crucial to manage expectations when working with other professionals in the industry. When developing a relationship with someone entering the practice, it is the responsibility of financial planners to outline the parameters, set objectives, and steer the direction of the practice. Having said that, before selecting a younger planner to work with, there must be an assessment of personalities. If two people do not share common values and ethics, there can be no relationship. Having a relationship with a younger planner can be a mutually beneficial learning experience. If each person brings different skills, as well as educational background and experience to the relationship, both people should benefit. To benefit from the differences, one must be open to new ideas. Change is sometimes resisted but often necessary and valuable.


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