Transcript Slide 1
Our journey to being future-fit Embrace Change What needs to change? Value Add Commission Financial Planner Compliance Client Expectations Embrace Change Why is change necessary? Job satisfaction Relevant Are you learning as fast as the world is changing? Respected profession Indispensible Embrace Change Commission After commission? Menu of services Plan fee Rand based fees Salary Commission is going % Ongoing fees Hourly fee Implementation fee Embrace Change Compliance Best practice Regulatory exam TCF It is all or nothing Conflict of interest Product category Exams Embrace Change FSB Audit Details. Procedure. Process. Documents Dotting your I’s and crossing your T’s TIP: Put someone detail oriented in charge! Embrace Change FSB Audit CAT Scan Educated Team Specialists What worked for us... Internal compliance officer Know your client Up to date documentation Close skills gap Enter competitions Business structure Electronic filing Embrace Change What is your value-add? ROI ROL (Return On Investment) (Return On Life) Life Giving your clients the best life possible with the money they have The money is the client The person is the client Embrace Change Who is your client? Asset management Will planning An holistic financial plan is one based on the clients dreams and goals Tax planning aSSE Estate planning Risk management Cash flow planning Embrace Change The role of the financial planner has changed? Beach house Car insurance Travel House When building a puzzle where do you start? Embrace Change What is a financial planner? How do you position yourself? Stock broker Healthcare consultant Retirement fund consultant Lawyer CEO CFO Investment consultant Auditor Tax consultant Private banker Embrace Change Client expectations have changed! Head Heart Gut Clients want to connect Embrace Change What’s in it for the client? Client-focused financial planning Get ahead of the game! Change begins with you Embrace Change Thank you Embrace Change