In my last post I talked about the young millionaires, many 35 and younger, and the hidden risks of not seeking financial advice; opting instead for a do-it-yourself approach. To the credit of this budding wealth creator crowd, the financial services industry has been big, slow, and expensive to work with, and as the next generation of wealth creators, you are demanding something better.
If this is you, then what are the telltale signs of financial advice that can add value to your life AND be worth paying for?
Here’s your grading guide:
- Access to information about subjects you care about and that can be consumed easily and quickly. This would mean electronic newsletters, blogs, videos that address areas of need and that are in short bit sized nuggets. The ability to create thought leadership that is timely and interesting.
- Information that is focused on you. Valuable opinions and information about subjects that can improve your life instead of how important and successful the advisor or investment company is.
- Interested in finding and interacting in the places you like to be, when you want to. This would suggest communicating with you in ways you enjoy, whether that be through twitter, email, Skype, and questions and comments via blogs.
- Transparent communication. Do you really understand what they do, who they are, and why it matters? If value isn’t communicated effectively then I would argue it isn’t present.
- Value that can be experienced in every interaction. A clear willingness to help you get where you need to go, and not only if you buy something or sign a contract. If this happens, and you see tangible progress towards your goals, the cost will become less and less relevant. Continue Reading »