The Million-Dollar Financial Advisor Team by David J. Mullen Jr

Author:David J. Mullen, Jr.
Language: eng
Format: epub
Publisher: AMACOM
Published: 2018-07-08T16:00:00+00:00

“The financial goals of an investor are the most important components of the wealth management process, and these goals are the reason people invest their money. Therefore, the funding of one’s goals must be the primary focus of the wealth-management strategy.”

Goal-based investing is the link between discovery and investment process. It focuses on achieving goals regardless of market behavior. This approach also builds clients’ trust because the advisory team is focused on what’s most important to the client. Teams that focus their offering on goal-based investing and include that focus in their value proposition will have a distinct competitive advantage over teams that don’t.

There are two priorities in goal-based investing: determining cash flow goals and determining the outcome certainty of those goals. Advisory teams that focus on goal-based investing find that it’s rarely limited to portfolio issues and thus place a higher priority on meeting client goals than on short-term portfolio returns.

In incorporating goal-based investing in your team’s offering I would recommend following these five best practices:

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