Ep 214: Why the Customer Isn’t Always Right in Financial Planning

On this episode:

In nearly all of the retail, restaurant and hospitality world, the old saying is that “the customer is always right.”  But when it comes to financial planning, it’s probably not wise to subscribe to that idea. What’s the point of having a financial coach if your advice is better than your coach’s advice?

Let’s talk about some statements you might hear from clients that might require you to push back because the customer isn’t always right.

Listen now!

Specific learning points:

  • Now is the time for me to get out of the market  (3:02)
  • This is what I want to invest in. I just need you to pick the exact funds for me. (5:57)
  • I don’t really need to spend money on _____  (8:05)
  • It’s fine that my returns are great because fees are low or avoiding a good investment because fees are too high. (10:54)
  • My accounts are down right now. I don’t think my plan is working. (13:37)

 

More resources:

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About:

Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances.