Financial planning is really about… the adviser as a general practitioner

If a person is sick their first port of call is usually their GP. In most cases, the GP can treat the illness and there is nothing more to do. In certain cases, the GP makes a referral to some form of specialist and then provides an overview function on the medical attention obtained elsewhere.

The same should go for a financial adviser. Financial advisers should aim to be their clients’ first port of call for anything to do with their financial and legal affairs. If the adviser cannot solve the problem themselves, they can refer the client to someone who can – and then ensure that the client is given a competent, cost-effective solution.

Whenever your client has a need for one or more financial or legal services, you should be the one they call. Picture yourself in the centre of the client’s advice network:

Financial-planner-as-the-GP

The Dover Group