What problem are you trying to solve? This is the big questions I ask my clients.
What surprises me, is that most advisors never ask this question. It is so common for advisors to be rushed, and without getting to know a client they jump into the final steps of investment.
Every question has a solution. So as a financial advisor, you should be asking questions, listening carefully to the answers, and then LASTLY providing solutions. Yet many, many advisors skip to the solutions step without every asking the question.
Let’s say you’re going to football practice. In your bag for practice you typically need football cleats, a football, a jersey, and a football helmet. Now all I know about you is that you play a sport, so without asking what sport you play, I pack your sport bag with a basketball, flat basketball shoes, and no helmet. This is entirely unhelpful for you because after all, you’re a football player.
Do you see where I’m going with this?
In the analogy the question that should be asked is, what sport do you play? That way, I can provide you the tools you need in order to play that sport.
Without asking questions, your advisor can provide solutions all day long, but they will probably be unhelpful to your specific situation.
Financial planning is not a cookie cutter method, and you should run away from anyone who says it is.
For more on this, please check out my tip video below.