The 'Church' of Financial Planning

Adkins, Rick
October 2007
Journal of Financial Planning;Oct2007, Vol. 20 Issue 10, p36
Academic Journal
The author bemoans the less-reputable practices of some financial planners and describes what must be done if financial planning is to achieve universal recognition as a profession. Some planners have emphasized sales over service. Others have hid incompetence behind dubious certifications. These and other behaviors have diminished planners' credibility in the public eye. Financial planners need to be open, honest, and transparent, and should endeavor to use their skills in the service of clients' needs.


Related Articles

  • In the Absence of Value. Tibergien, Mark // Investment Advisor;Sep2009, Vol. 29 Issue 9, p95 

    The article focuses on the issues concerning the pricing strategy of wealth management firms. It notes that if these firms reduce prices for their services, the time in which they can increase them back to normal levels is uncertain. It mentions two choices for price-shopping clients such as the...

  • Robert Reid: There are no freebies when it comes to advice. Reid, Robert // Money Marketing (Online Edition);2/7/2014, p14 

    The article presents the author's opinion on financial advisers' fees. The author asserts that independent financial advisers (IFAs) must have independence in deciding remuneration and the client's acceptance of cost for advice. The author criticises the retail distribution review (RDR), saying...

  • Managing Retirement Risk: It's All About Attitude. McCarthy, Jim // On Wall Street;Aug2009, Vol. 19 Issue 8, p63 

    This article discusses the skills that investment advisors should possess in the area of managing retirement risk. Advisors are not typically skilled at dealing with clients with less than 5 million U.S. dollars in assets for retirement. However, advisors should endeavor to serve these clients...

  • Teach the Children Well. FOSS, KIMBERLY // Financial Planning;Oct2014, Vol. 44 Issue 10, p39 

    The article offers guidelines for financial advisors on helping wealthy clients raise kids who value community well-being and financial stewardship. Topics covered include the need to ask clients about the ways their wealth defines them, the importance for clients to be careful in judging their...

  • CERTIFIED FINANCIAL PLANNER BOARD OF STANDARDS, INC.  // On Wall Street;Jul2003, Vol. 13 Issue 7, p74 

    Deals with professional standards fostered by the Certified Financial Planner (CFP) Board of Standards, Inc. in personal financial planning. Importance of wealth management to financial planning according to the CFP; Result of a survey on client satisfaction by the CFP Board in 2002; Effect of...

  • Your reputation is a valuable asset. Macleod, Murdo // Money Management;2/26/2009, Vol. 23 Issue 6, p12 

    The article discusses the importance of maintaining a favourable financial adviser reputation. Financial practitioners value their reputation more than anything else. This is because clients trust them to deal with their financial, health and death matters in a considerate manner. It mentions...

  • RDR redefines independent' adviser label. Salih, Chris // Money Marketing;7/2/2009, p9 

    The article reports on the revision of the RDR consultation paper, wherein the financial sector was divided into independent advice, restricted advice and non-advised sales in 2009 in Great Britain. According to the paper, single- and multi-tied advisers will be included in restricted advice....

  • Asset Minimums and How Planners Get Paid. Powell, III, Robert J. // Journal of Financial Planning;Sep2008, Vol. 21 Issue 9, Special section p12 

    The article discusses the financial planning industry, examining the standards and practice that financial planners have for asset minimums, prospective customers, and fees. A majority of financial advisers require clients to have at least $100,000 in investable assets, the article states....

  • Six Millionaire Myths. Leder, Gerri // On Wall Street;Dec2005, Vol. 15 Issue 12, p80 

    The article discusses myths concerning mid-tier millionaires which hold back financial advisers from attracting this group as clients. It is common for advisers to assume that wealthy people do not financial planning but in truth they are just as prone to bad financial habits as anyone. There...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics