Did a client update/reivew over the last work week …. and on Friday, same client sms-ed me something urgent ……
Due to confidentiality reasons, I am not able to spell out word for word what exactly his/her situation is …… BUT all I can say, and will say is the situation today is quite a mess, after years of accummulating products/plans/funds without any proper systematic goal/objective/plan/needs-based analysis/tracking and unrealistic expectations etc. .
It takes a lot of effort, and commitment, not to mention an open mind to get down to the task and ‘right’ the wrongs/negatives and move on to the future. It doesnt help when said client is stubborn, unable to let go of fixed perceptions and has a tendency to misunderstand a single comment literally (could be attributed to forgetful memory/not-so-good listening skills*ponders also*) ……
It is at times like this when the danger signs of balant product-pushing practices rear its ugly head post GFC (Global Financial Crisis) …… which is why comprehensive planning and a systen of built-in annual reviews (and not buying the hot product of the moment – common sales practice amongst roadshows and banks) is the only way to go – as far as the Financial Advisory industry is concerned!
Contary to armchair critics comments and skepticism of some of the public out there (note: it has always been there!) about our industry, and despite the picture not looking exactly pretty for my client at the moment, the optimist in me believes that it is precisely ‘danger’ moments like this that present to us opportunities to get out there and make the difference 🙂 ……. And to make the difference, it all starts with ourselves …….
Alright, time to head for spinning class – the highlight of my Sundays! 🙂
Enjoy the remainder of the weekend!!