As Financial Planning Week 2017 kicks off, three experts explain why they and their firms are offering free one-hour 'taster' sessions to potential clients and the key messages they will be looking to get across
The Chartered Institute for Securities & Investment (CISI) has brought back free one-on-one money management consultations for Financial Planning Week, which runs from today to 12 May. More than 40 firms nationwide have signed up for the initiative.
The aim of the one-hour sessions is to establish consumers' life goals and some simple ideas on how they can set about achieving them. So what will be the key message financial planners will be looking to convey in this short time? Professional Adviser asked three ...
‘Everyone needs a financial plan, regardless of age or wealth'
Mazars Financial Planning CIO David Baker: "We hope to spread the message that everyone needs a financial plan, regardless of their age or wealth.
"Too often individuals can feel daunted by the prospect of planning their financial future but a conversation with a qualified financial planner can be the first important step to achieving a life goal.
"Everyone has financial objectives - whether it is saving a deposit for a house, ensuring sufficient income in retirement, or passing wealth down the generations.
"We hope to encourage people to focus on these goals and discuss them with an adviser, rather than be distracted by products or legislation."
‘Visiting and working with a financial planner is not scary'
Informed Choice managing director Martin Bamford: "A lot of people are terrified about setting foot in a financial planner's office and sharing everything about their financial lives and goals. But visiting and then working with a financial planner is not scary. We are pretty nice people - we don't bite.
"We appreciate it can be a bit scary sometimes to share so much about your personal finances, your health and similar matters. But there is a real benefit in financial planning and we do make it as painless as possible.
"So our message will be that people should not be put off by the prospect of laying all their cards on the table with a professional."
‘To explain the difference between planning and advice'
Appleton Gerrard chartered financial planner Kusal Ariyawansa: "The sessions are purely for guidance and introducing people to the benefits of financial planning. We are very keen to stress the difference between the planning and advice elements.
"In the past when I've run these clinics, people have come with specific issues. So what we do is talk about the financial circumstances around their lifestyle and identify their objectives and goals - talking about their background and then how they hope to achieve them.
"That can be when the discussion stalls, however - it is great having the background but how they are going to achieve their goals is not always that clear. So it is about establishing how financial planning can help them achieve their goals in the short, the medium and the longer term."
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