The Changing Role of the Financial Planner

Dubofsky, David; Sussman, Lyle
December 2008
Journal of Financial Planning;Dec2008, Vol. 21 Issue 12, Special section p8
Academic Journal
This article discusses the results of a survey assessing the degree to which financial planners act as life coaches or counselors to their clients. The number of respondents who reported that they had addressed personal life goals with their clients in addition to financial issues is considered. Reports of meetings with clients in which they share marital issues or personal secrets are noted. The implications of personal psychological disclosures for the business practices of financial planners are considered. Strategies for avoiding unethical professional behavior when dealing with clients interested in receiving advice on personal issues are presented.


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