Walking That Lonesome Valley

Wagner, Richard B.
August 1996
Journal of Financial Planning;Aug1996, Vol. 9 Issue 4, p28
Academic Journal
The article presents the author's comment on the aspect of financial planning process. He says that the clients interests are placed above other interests. But unfortunately, impartiality is not enough when working with a force as intimate, symbolic, cultural and powerful as money. Clients need objectivity for more than product recommendations. The author says that they are integral components of the complex processes and relationships known as "financial planning." They as practitioners, affect planning processes as much with their unarticulated or unintended attitudes. He also suggests to maintain objectivity and place client interests first, they must be aware of their own money values and relationships. He further says that the most rewarding method has been the "Money Autobiography." An intensely intimate exercise in personal discovery and full self-disclosure, this is an invaluable tool for self-understanding. Lastly he suggests some exercises that are personally rewarding and professionally invigorating.


Related Articles

  • A Game Plan for Working with Professional Athletes. Reinhold, Eric J. // Journal of Financial Planning;Jun2000, Vol. 13 Issue 6, p114 

    This article highlights the planning issues which financial planners should consider when working with professional athletes. The basic planning issues include: net worth; cash flow; budget; taxes; insurance; investments; retirement; and estate. Agents typically charge from three to five percent...

  • Collaborating with a Financial Therapist: The Why, Who, What, and How. Maton, Cicily Carson; Maton, Michelle; Martin, William Marty // Journal of Financial Planning;Feb2010, Vol. 23 Issue 2, p62 

    • In this article, the authors, long-term practitioners of a multi-faceted approach to serving financial planning clients, share their process. Their method incorporates a structured collaboration with a financial therapist who has special expertise that enhances the planning experience....

  • Rethinking Risk Tolerance. Kitces, Michael E. // Financial Planning;Mar2006, Vol. 36 Issue 3, p54 

    Analyzes the components of a client's risk profile. Difference between risk tolerance and risk capacity; Factors needed to improve risk profile; Information on the two approaches to identify individual risk tolerance; Explanation on how financial planners can use risk tolerance.

  • Be honest when dealing with a financial adviser. Leckey, Andrew // Journal of Business (10756124);11/10/2004, Vol. 19 Issue 23, pB1 

    Discusses the importance of disclosure in financial management. Importance of establishing trust between a consultant and his client; Need for individuals to disclose all holdings and their value to a financial planner to avoid errors in the later stages of investment planning; Negotiations on...

  • IFAs should not stint on client analysis.  // Money Marketing;11/15/2012, p38 

    The article discusses the commonly accepted six steps of the financial planning process. According to the author, a critical stage in the financial planning process is the analysis and evaluation stage, without which, a financial adviser cannot determine the client's capacity for risk. He...

  • Case Study: How to make the most of fixed protection. McAinsh, Darren // Money Marketing (Online Edition);1/16/2014, p67 

    The article presents a case study discussing how make the most of fixed protection in Great Britain. It is said that financial advisers should know the deadline for fixed protection 2014 as this can offer interesting planning opportunities for clients. The case refers to a 55-year-old single...

  • Will new advice strategies work? Cicutti, Nic // Money Marketing;11/8/2012, p36 

    The author comments on the debate over financial advice and how it should be delivered to clients in Great Britain. He considers the question of whether there really is a need to develop a new model of financial adviser in the country. He describes a case wherein the independent financial...

  • Risk Tolerance and Goal-Based Financial Planning. Grable, John E.; Carr, Nicholas A. // Journal of Financial Service Professionals;Jan2014, Vol. 68 Issue 1, p12 

    Financial planning success is improved with the integration of emotional, attitudinal, and client preferences into client-centered recommendations. While client goals should always dominate the planning process, the way recommendations are formulated and implemented should recognize that a...

  • Pseudogenes. Levinn, Ross // Journal of Financial Planning;Nov2001, Vol. 14 Issue 11, p28 

    The article presents the author's viewpoint on information related to the functions of financial planners. The author makes a correlation between pseudogenes, genes that mess up a scientist's research, and some of his frustations in the financial planning industry. There are a number of people...


Read the Article


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

Try another library?
Sign out of this library

Other Topics