Advice can only be holistic with life coachingBY HARRY GOLDBERG | THURSDAY, 23 JAN 2020 5:40PM There is no doubt about it: The financial advice industry is changing. We have advisers leaving the industry, more stringent compliance requirements, constantly shifting legislation ... Upgrade your subscription to access this article
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STEPHEN PERERA
MANAGING DIRECTOR
PERERA CROWTHER FINANCIAL SERVICES PTY LTD
MANAGING DIRECTOR
PERERA CROWTHER FINANCIAL SERVICES PTY LTD
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Expert Feed
Helping Australians overcome the pervasive fear impacting their quality of life
We've seen FORO - the Fear of Running Out - raise its head in the past couple of years, especially during COVID-19. FORO is a very real issue in retirement ...
Are you getting the licence you're paying for?
One of the critical steps in purchasing a company that holds an AFSL or ACL is ensuring that the licence does what you need it to do and carries no major ...
An open letter to Anthony Albanese and Scott Morrison
Lifespan Financial Planning chief executive Eugene Ardino pens an open letter to Anthony Albanese and Scott Morrison on behalf of the financial advice ...
Are you ready for what's coming?
Right now, we are on the cusp of a once in a generation adjustment as the world moves from low inflation and low interest rates to high inflation and ...
This is a pretty liberating approach Harry, I had a manager once who said - you are a good manager if you make yourself redundant. I guess, being a good financial adviser is much the same. At some stage, your clients should be strategically at least, able to go off into the abyss without failing terribly, at that stage - if they choose to stay, its through relationship and the desire to delegate that management, rather than a requirement to do so.
Wealth coaching is to financial planning as homeopathy is to medicine.
It is dependent upon fakery and delusion, but most of all on the credulity of customers swallowing the weasel-worded narrative necessary to support the charade.
"It's about utilising their finances intelligently to support them living the life they love."
"We go deeper to make sure clients leave our meetings empowered to actually live the life they love."
"So what does the fulfilled life look like? There is no single answer"
Apparently, with a homeopathic planner...sorry, 'wealth coach', you can expect to be asked:
"Why aren't you playing full-out in life?"
"What is holding you back from being playful, curious, loving & joyous?"
"[What is your] depth of connection with community?"
"[What are your] ways of contribution (sic) to society?
To suggest this is the changing face of financial planning is a big fat lie.
This is what con artists do; they take words (e.g. financial planning) and either change the ordinary meaning of the word or they co-opt the words to lend legitimacy to wholly unconnected activities.
But don't take it from me, read this article and see if you can spot what's actually going on here (https://bit.ly/38HmwFC).