Insights on Clients and Marketing, Part I

Hayden, Vern C.
July 2002
Journal of Financial Planning;Jul2002, Vol. 15 Issue 7, p42
Academic Journal
This article discusses the challenges facing financial planners doing financial planning with clients. There is always a lot of noise in the financial planning profession. Some of it is good and some of it is questionable. Economist Harry Dent says financial planners are going to have the mother of all great depressions by the end of 2000s and this could inevitably lead to their demise along with their clients, unless, of course, financial planners pay him a lot of money to use his products and services, in which case he will save them. Businessman Mark Hurley, on the other hand, says financial planners face the danger of becoming extinct because of the strength and charm of the big boys like Merrill Lynch and the market demands to compress their fees and other issues. He offers to save financial planners through the development of an unequalled business plan. The quid pro quo is that financial planners need to put a few million of their clients' money in his yet-to- be discovered funds. These two intellectual marketers represent the trend in exploiting financial planners. The exploitation trend goes something like this: First, somebody identifies a big problem for financial planners that will likely lead to their extinction. Second, they position themselves to be financial planners' saviors. Third, financial planners need to put them in some way to save themselves. There is always a quid pro quo.


Related Articles

  • CHARGING PLANNING FEES CHANGES EVERYTHING. Cufr, Adam // Retirement Advisor;Dec2015, Vol. 16 Issue 12, p20 

    The article discusses the significance of charging fees by financial planners to give better financial advice to their clients. It highlights that charging by financial planners results in better job planning for clients. It also mentions the importance of reconsidering marketing, messaging and...

  • The Marketing Plan You'll Need. Bogan, Stephanie; Doss, Natalie // Financial Planning;Oct2010, Vol. 40 Issue 10, p104 

    The article discusses the need for financial advisors to invest more time in marketing and developing a clear plan for growth in the U.S. in 2010. It says that despite the positive outlook for the financial planning industry, there are some gaps that demand the attention of advisors including...

  • The health of a nation. Browne, Tim // Money Management;11/4/2010, Vol. 24 Issue 41, p25 

    In this article, the author discusses the impact of changes in the financial advice sector on the health sector in Australia. He mentions that Australians do not understand the consequences of not having proper insurance to their health. He notes that financial advisers must have the proper...

  • What's Next for Diversity. Ulrich, Carmen Wong // Financial Planning;Oct2010, Vol. 40 Issue 10, p86 

    The article discusses the different major challenges facing the financial planning industry in the U.S. It says that financial planning shifts together with the changing demographics of the country. According to the author, the planning and advising opportunity also lies in education aside from...

  • Authority Figure. Bowen Jr., John J. // Financial Planning;Sep2007, Vol. 37 Issue 9, p35 

    The article provides an overview of how to market a financial advisor's credibility to be able to attract new clients in the business. A 12-step process that can help advisors establish their credibility is presented, including setting the goals and strategy, reviewing marketing materials, and...

  • Assumptions and Adaptations: Fine-Tuning Your Practice for Profitability. Smith, Shawn // Journal of Financial Planning;May2007 Supplement, Vol. 20, p19 

    The article discusses the author's experience of growing his financial planning business. He notes the importance of client referrals to his business. Also noted is his planning of special events planned to help generate new clients. The author also relates his practice of keeping in close...

  • Planner/client communication leaves a lot to be desired. Egan, Liam // Money Management;8/6/2009, Vol. 23 Issue 28, p6 

    The article reports on the importance of client communication in achieving client loyalty and satisfaction in the financial planning industry in Australia. According to Fidelity Australia managing director Gerard Doherty, research shows that planners neglect client communication and those that...

  • Let No Man Put Asunder. Drucker, David J. // Financial Planning;Dec2004, Vol. 34 Issue 12, p83 

    Presents ways to deal with problems caused by the financial ideas of a female client's husband. Strategy of financial advisor Sheryl Clark in handling predictable behavior of her client's husband; Experience of Lucas Wagner of Lucas Wagner & Associates Wealth Management in dealing with a female...

  • Practice Tips. Hallier, Randy // Financial Planning;Jun2005, Vol. 35 Issue 6, p24 

    Presents suggestions for financial advisers on improving and managing business firms. Ways for advisers to maintain their communication with clients; Tips on preparing a client-appreciation event.


Read the Article


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

Try another library?
Sign out of this library

Other Topics