From the June 2007 issue of Investment Advisor • Subscribe!

June 1, 2007

Planner, Know Thy Limitations

I think of myself as someone who provides dynamic financial planning to clients. But in recent years it has become popular for many in the financial services business to hold themselves out as financial planners. The problem is that there are a number of firms, and individuals, who do this only to see what products they can sell to the client. To them, it has become a means to an end, with the end not so noble. What the client really wants (and needs) is a trusted advisor who will advise them on a continuing basis, without conflicts of interest, on a variety of subjects. One key here is to know your limitations. If there's an area you are not qualified to address, you must bring in another advisor who is qualified to fill that need.
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