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Is Financial Advice What A Client Really Wants?

February 11, 2015

There are thousands of articles about what constitutes good financial advice. twowomentalkingAs expected, many are filled with numbers, analysis and concepts that people may or may not understand.

That’s what we Advisors do but is it really the BEST way to serve our clients?

The inspirational article below made me think (and I love to think!). While it’s not written in the context of providing financial advice, the ideas are worth considering for anyone in the business of providing any kind of advice.

When women approach Financial Advisors, are they really looking for “financial advice”?

Or is it something else? Perhaps, it’s the confidence that they’re on the right path to retire when they want, pay off debt, fund their kids education or some other equally important life goal. But is there one “right path” or ideal solution? Of course not- it’s up to the individual to choose the journey (and destination) that’s right for them.

Good financial advice is never black or white. What works best for me, the Advisor,  could fall flat for my client. Well-intentioned advice is only useful if it makes sense, rings true, motivates or educates someone to take positive action.

As the article suggests, perhaps what we Financial Advisors can do more of is educate, listen, encourage, offer support and options (in addition to providing sound, financially-based advice). A multi-page financial plan is not worth the paper it’s printed on if the client does not ACT ON IT.

Have a look at the article and see what you think. Would love to hear your thoughts!

Instead Of Advice, by Tara Mohr, expert in women’s leadership and well-being


Related Posts:

What Does Female-Friendly Financial Advice Look Like?

Everyone Needs A Money Mentor


Proud founder of this blog Let’s Talk About Money, Patricia Gass, CPA, CA, provides personal finance coaching and education to improve your money skills. Follow her on linkedin, twitter or pinterest

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One Comment
  1. You are SPOT ON Patricia about a financial plan being worthless if it is: misunderstood, filled with mismatched recommendations, or fails to address the real problem(s).

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