Analysing a client’s financial position and cash flow is similar to a doctor conducting a full health check on their clients at the start of their relationship, or a personal trainer with their client when they come to the gym to change their state of health.
The adviser needs to assess the client's
· current financial position,
· investment behaviour characteristics,
· attitude towards risk
· aspirations and goals – short, medium and long term
All in all, this provides a more holistic approach to financial planning.
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