Helpful Basics: The Financial Advice Process

What You Need To Know

• Advice vs planning – Advice is product-led, Planning is outcome-led.
• The Financial Planning process.
  1. Establish and define the relationship.
  2. Collect client information to have context for advice.
  3. Analyse and assess the current position.
  4. Develop the plan and make recommendations.
  5. Implementation.
  6. Ongoing review.
• Costs and value.
• Qualifications and designations.

Everything You Need To Do

• Begin with the end in mind.
• Contact several advisers.
• Get costs and scope in writing.
• Be prepared to be vulnerable.

We’re going to spin out the listener questions into a separate Q&A show which we’ll drop into the feed every 2-3 weeks or so. These will be in addition to the main feed, most likely, but they’re easier for us to produce because they require less writing! Send your questions to hello@meaningfulmoney.tv Subject line: Podcast Question

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