Brunsdon Financial Services CEO Brian Morman explains why a skilled Financial Adviser could be your greatest asset.
Here’s a question for you. What do you think has been the most successful industry in the world in the last 25 years?
I guarantee that the first answer that popped into your head was the computer industry. Right? Well you’d be wrong, because the computer business as a whole has lost more money over the last 50 years than it has made, incredible as that may seem. The total losses of the losers in that industry to date are still greater than the total winnings of the winners!
The correct answer is the financial services sector. And I’ll tell you why. If you put aside for a moment the current turmoil in the markets and the negativity generated by the dubious activities of some of the banks, the financial services industry is one of the best in the world at utilizing breakthroughs in technology to its own advantage – and the advantage of its customers.
But there’s another reason which is equally important. Back in the good old days, most large employers, both public and private, provided ‘jobs for life’ and with that came a measure of lifetime financial security. In effect, the employer took on the role of financial adviser, career counsellor and retirement planner for you. To a large extent, your thinking and decision making about the future was taken off your hands. Over the last 30 years or so, as companies have had to concentrate more on just keeping afloat, this paternalism has largely disappeared and it has become increasingly important for individuals to take personal responsibility for their financial well-being.
That is why the role of financial adviser has become so important. Skilled financial advisers are fast becoming the new providers of plans and strategies for those individuals who want to take greater self-initiative to move upwards and forwards, or for those that want to maintain what they’ve already achieved.
I believe that competent, experienced and qualified financial advisers deliver an extremely important service in today’s society.
At Brunsdon, this philosophy forms the basis of our financial services processes, which are geared towards helping our customers achieve their financial goals. These processes form the basis of a lifetime financial game plan. Such a plan, tailored to each individual client, can be continually updated and improved to react to changing circumstances and external forces. We are able to assess a client’s situation and identify decisions that need to be made and actions that need to be taken to produce immediate progress and lay down a plan for the future. This is our new model of financial services that is entirely client-focused.
I also believe that in many ways, skilled financial advisers, more than advisers from any other profession, are ideally suited to be the most useful experts in a crowded and confused society. Whilst there are specialists in other fields that we may consult during our lives, financial advisers must be at or near the top of the list of those who will have the most enduring impact on the greatest number of consumers in the marketplace.
A solid foundation of adaptable financial advice can provide invaluable peace of mind in a world that will continue to change in unpredictable ways.
Source: ‘The good that Financial Advisers do’ by Dan Sullivan , Strategic Coach Inc.