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Wealth Professional | 06 Dec 2016, 08:15 AM Agree 0
A new white paper has advised FAs to hook up with the insurance profession to better serve their clients
  • Kathy Your Net Worth Manager | 06 Dec 2016, 11:49 AM Agree 0
    My model is that clients come to me as a fee only planner and I work on cash flow, heading off disasters, debt, short term and long term savings. I agree there is no point in having a great portfolio and going on vacation and ending up with a huge medical bill you have to spend it on. This year I encouraged everyone to get a health check on their home insurance. I teamed up with a local broker and he reviewed them for us. Several would have had nasty shocks , not covered as thought and others he saved money. I believe our finances are a jigsaw and all the parts have to work together to benefit us.
    I introduce to a life advisor / investment / legal/ banking/ loans/ accounting/ home inspection but never take an introducer fee as there is an immediate conflict of interest.
    It actually took me several goes to find the right insurance agent , several tried to upsell my client despite having been given a case study , naviplan etc stating clearly we knew what they needed. By referring people they reflect on you to your clients so its not easy
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