Success as a Financial Advisor For Dummies by Ivan M. Illan

Author:Ivan M. Illan
Language: eng
Format: epub
ISBN: 9781119504139
Publisher: Wiley
Published: 2018-11-12T00:00:00+00:00

Alignment

Alignment is a key factor in business success. A business sets a goal, develops a strategy for achieving that goal, and attempts to align all of its business activities with that goal to achieve maximum impact. A similar approach is effective in financial planning. All financial products and services should align with the client’s financial goals.

The financial advisory profession has two main care standards:

Suitability: Offering recommendations that fit within an average advisor’s belief of what’s appropriate to meet the consumer’s or client’s needs.

Fiduciary: Monitoring life changes, market changes, and behavioral changes and adjusting the client’s financial plan to maintain alignment.

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