New Client
Assisting new clients is a complex and ongoing process that requires a deep understanding of the client’s financial situation, goals, and risk tolerance.
Effective communication is a key factor in assisting new clients, and financial planners and advisors must be able to explain complex financial concepts in a clear and concise manner. This includes explaining the risks and potential rewards associated with different investment strategies, as well as the fees and charges that may be involved.
Financial planners and advisors must also adhere to ethical and professional standards, and act in the best interests of their clients at all times.
Curriculum
- 5 Sections
- 17 Lessons
- 10 Weeks
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- DiscoveryThe initial stage of the financial planning process involves gathering relevant information about the client's financial situation. This is a crucial step in developing a financial plan that is tailored to the client's individual needs and circumstances and ensures that the financial planner or advisor has a comprehensive understanding of the client's current financial situation.7
- ResearchProduct research is an important aspect of the financial planning process. Financial planners and advisors use a variety of tools and resources, including WealthSolver and Insurance quoting tool, to research and recommend financial products to their clients.2
- Advice PreparationThe advice-preparation stage is a critical component of the financial planning process. Once the financial planner or advisor has gathered all the relevant information about the client's financial situation and goals, they will use this information to develop a personalized financial plan that aligns with the client's goals and risk tolerance.2
- Advice PresentationThe presentation of a Statement of Advice (SoA) is a crucial aspect of the financial planning process. A SOA is a document that outlines the financial advice provided to the client, along with any associated risks, fees, and charges. It is a legal requirement for financial planners and advisors to provide clients with a SOA that is clear, concise, and tailored to their individual needs and circumstances.2
- Advice ImplementationOnce a client has agreed to the financial recommendations outlined in the Statement of Advice (SoA), the financial planner or advisor can move on to the implementation stage of the financial planning process. Implementation involves taking the necessary steps to put the financial plan into action in accordance with the client's individual circumstances and preferences.4