Process of Honolulu Financial Advisor Association

We don’t get the feeling when we step into a doctor’s office, luckily or sadly. In reality, the opposite is true. The wait is long, the room is a little claustrophobic, and friendly service is not the norm. That’s because health-care providers devote more of their time and energy to learning how to treat you as you step out the door rather than as you walk in. Do you want to learn more? Click Honolulu Financial Advisor Association.

When looking for financial advice, there are a slew of factors to consider, particularly risk, when rising and protecting your wealth. There are risks in getting the wrong advice, and there are risks in getting the right advice but not asking enough of the right questions, but there are also risks in getting the right advice but not asking enough of the right questions.I had the unique experience of watching and witnessing the gyrations a wealth advisory team would go through in order to “land a client” as an In-House Tax Strategist for a “Wealth Management” office. My task, of course, was to provide value-added services to current and prospective customers. Ok, not quite.

 I had that goal in mind, but in fact, it was just another way for the “financial advisor” to get in front of a potential client. In reality, the single goal of “getting in front of another prospect” guided every decision. Consider it this way: A Financial Advisory Firm would earn tens of thousands of dollars for each new client “they land,” as opposed to a few hundred dollars more for doing a decent job for their current clientele. Because of this, the structure of a financial services company will determine what is most important to them and how it will impact you as a client. This is one of the many reasons Congress passed the new Department of Labour fiduciary legislation this spring, but more on that in a future post.When a financial consulting company devotes all of its time to prospecting, you can be confident that the advice you’re getting isn’t completely beneficial to you.