How To Nail Goals-Based Advice | imac legal & compliance


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How To Nail Goals Based Advice

The problem with goals–based advice is that it makes advisers look bad! Let me explain.

Since Financial Services Reform (FSR) it has been a regulatory requirement when providing personal advice to base that advice on a client’s objectives, needs and situation. Talking about goals-based advice as if it is a recent revelation suggests that advisers have not based their advice on a client’s objectives previously! But of course this is not the case.

Two major developments make up the latest goals–based trend. First, advisers are more willing to either forego a holistic financial plan or breakdown financial plans into bite -sized (goals – based) objectives.

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