The Client-centred Blog

What are the three roles of a lifestyle financial planner?

Simplify your role to make it more rewarding

Do you ever find your role as a lifestyle financial planner being overly complex? 

Would you like it to be simpler, more productive, and more rewarding?

If so, this article considers that there are only three core roles of a lifestyle financial planner.

You will also learn why so many lifestyle financial planners can get stuck in a rut doing work they do not enjoy or find rewarding. More importantly, we’ll look at how you can very quickly get back on track.

Isn’t your time best spent in your area of expertise?

I once worked with a client who was a top orthopaedic surgeon.

His typical working week was always organised around his area of expertise, for which he was very highly paid.

He spent time in the operating theatre, met with patients to consult with them, and kept up with developments within his field.

Essential jobs best not done by you

There were also many things he did not do but were still essential for him to carry out his work. For instance, he did not prepare the operating theatre, run his diary, or do administrative tasks.  

As a lifestyle financial planner is there any valid reason you would not treat your role with the same degree of reverence?

The three core roles of a lifestyle financial planner are:

*Meeting with a client

*Meeting with a prospective client

*Developing yourself professionally and personally (suggestions for career boosting books)

But just like the surgeon, there are also tasks essential to being a lifestyle financial planner that are best not carried out by you.

What is the current balance of your working week?

If you look at your typical working week then how much of your time is spent on tasks that are far better off conducted by someone else? 

If it is much more than you want you are not alone, and it is perfectly ok. 

Every lifestyle financial planner who wants to make progress faces this situation. Yet as I also know from my own experience, it is a certainty that you are going to get stuck from time to time.

How do you get unstuck and make real progress?

We get stuck because of our thinking gets stuck and we and cannot see a way out.

For instance, you can feel overwhelmed with the size of the task, you might try something new, and it fails, or find it difficult to let go. 

You can think of this as being like a log jam – a whole mass of logs blocking a river and stopping the natural flow. 

The conventional wisdom is to try and think your way out of it. Only this often fails to work because it is like adding more logs to the pile.

Yet what happens if you raise the water level? The log jam will always sort itself out.

How do you raise the level?

The answer is to allow your mind to relax instead of trying to grind out answers (for a fuller explanation see this TED Talk with Ken Manning). 

Once your mind is more relaxed then the secret is to listen more deeply because your own innate wisdom is your greatest asset.

A great example of how this works came from a financial planner I was working with.

He had been stuck in a rut for a while and then happened to go on holiday with his family. As you might expect, his thinking relaxed. As is by magic the answers that he needed came to him without effort and upon returning he began to make great progress immediately. 

The crucial point is that you do not need to go on holiday for your mind to relax. When you know how your mind works then you will see that it can relax at any time. So, when you do get stuck it is something very temporary instead of something that lingers on.    

The three roles of a lifestyle financial planner

You may have your own version of what your ideal role as a lifestyle financial planner looks like and that’s fine.

As you make progress towards your outcome and happen to get stuck, be easy on yourself.

Acknowledge where you are and be ok with this. This almost seems too simple, yet you will find it highly effective.

The mind naturally wants to return to presence and clarity. We simply have to allow it to do this.

P.S. You can download the FREE REPORT, ‘Magical Client Meetings Everytime’ by clicking here.


Leave a Comment

Related articles

Are your feelings running your business?
Have you ever found that self-doubt, a low mood, or feeling fearful has held you back?  I'm sure this has been the case for all of us and it can have a big impact upon the quality of our results. In this article I am sharing how you get past those feelings and into taking action - the only thing that produces results.
Stress free goal setting for financial planners
What is your experience of goal setting? For me, I would set goals because it seemed like a good idea to know where I wanted to get to. Yet I found that, at times, the process could often become quite stressful. I have also heard many people share that this is experience too. So, if stress free goal setting is something that would be valuable to you, please read on.
The value of knowing your value
Last week I was in London for three days attending the AJC Coaching Career School. This is a six-month long school, run by Ankush Jain, for coaches who want to build a more impactful coaching practice. For me, one of the most important things about being in business is that it feels fresh, inspiring, and as exciting as it did in the beginning.
Why elevator pitches don't work
What prompted me to write this article about elevator pitches was reading an article published by Asana. It said: "A good elevator pitch can be the difference between landing your next big opportunity or falling short of the competition." Really? Does this stack up?
Be the casino, not the gambler
Are you happy in your job as a financial planner or adviser? I often speak with financial planners or advisers who feel stuck in a rut and want to reinvigorate their work.  Maybe they have been doing the same thing for a long while and simply want to change. Sometimes they want to do things differently but experience some doubt. Sometimes it is they find a certain aspect of their job unrewarding.   So, how do you begin to turn this around?
My favourite Einstein quote and why it matters
One of the biggest challenges for a financial adviser is getting stuck on a plateau they cannot seem to move past. Can you think of a recurring problem or limitation in your business?
Two approaches to goal setting and why only one is healthy
I have found that goal setting can be a double-edged sword.  On one hand we want to achieve things that are important to us, so aiming at something makes sense. Yet for many people pushing hard towards their goals also causes them a lot of stress and compromises their quality of life.
A new way of thinking about financial planning fees  
Although there seems to be plenty of information on the process of increasing your financial planning fee, there is far less on the thinking behind it. So, in this article I am taking an alternative look at fee charging. Read on to discover:  1. How most firms set fees 2. A different way of thinking about fees 3. What clients pay for
Is money holding you back from building a prosperous financial planning practice?
I read a survey conducted with financial advisers asking what their biggest challenge was. Number one was getting clients. It would be easy to believe that all is required to solve this problem is finding a reliable source of potential clients. Yet this is not always true. As I discovered, we sometimes have an 'upper-limit' issue that slows us down.
Wisdom from one of the UK's most successful female financial planners
My client Fulva Giust is one of the UK's most successful female financial planners, operating for over thirty years.  Fulva has built a thriving practice serving wealthy families and individuals built upon rock solid foundations of trust, caring, and kindness. She takes a deep interest in the lives of her clients, what they want to accomplish and their relationship with money.
10 powerful ways a financial planner can deeply serve clients from the first moment
How can you begin to deeply serve a client from the very first moment? When meeting with a potential client there are likely to be at least three important questions on their mind: 1. Do I like them? 2. Can I trust them? 3. Can they help me?
Do you hate selling financial planning? Discover the two shifts that change everything
Do you love working with your existing clients but hate selling? If so, you would not be alone. Yet rather than enduring this essential aspect of being a financial planner what if you could learn to love what is often perceived as the hard part? If this is you then read on to discover two shifts that can change everything.
The 12 Client-centred mind shifts - part 3
Have you ever considered what creates the very highest value for your financial planning clients? I am going to suggest it is not, important as they are, the financial arrangements you recommend and put in place for them. No. It is their own mind shifts.
The 7 secrets of thriving in a long-term financial planning career
It seems to me that many people lose their passion for what they do, especially if they have done it for a long time. So, what are the secrets of thriving in a long-term financial planning career?
The hidden secret of where you find financial planning clients
Do you want to know the hidden secret of where you find financial planning clients? Most of the advice on how to find financial planning clients is prescriptive. It tells you what to do or where to look. Yet how helpful is this?
10 career boosting books for financial planners
Why do people's careers stall, stagnate, become mundane, fall short of expectations, and, ultimately, lack the rewards they want? In my experience it is rarely lack of...
Your financial planning fees - why they must NEVER be an issue
This article explores why your financial planning fees must never be an issue with clients. Just recently a financial planner client of mine came to our coaching session wanting to talk about a fee situation with a client of his.
The three types of financial planning client
There are three types of financial planning client you can build your practice around. And because the three types are defined by what the client values, it can make a massive difference to the quality of your business.
Financial Planning clients for life - the one thing you MUST do
Creating happy, enthusiastic, loyal financial planning clients for life requires you to do one thing well, and consistently. What is that one thing?
How to get financial planning clients - the only way I know
Financial planning is not a commodity. It is experiential and conversations are right at the core of this.
The best prospecting advice for financial planners
Why do some financial planners seem to effortlessly find clients whilst others experience growing their practice as a constant struggle?
What does it really take to 10x grow a financial planning business?
There is a critical factor in growing your financial planning business that is often misunderstood.
Can coaching for financial planners really help your career?
Why are an increasing number of financial planners choosing to work with a coach? Is it something that could help you accomplish your most important goals and realise more of your potential as a financial planner? Read on to discover why coaching works...
Financial planning relationships - how to add massive long-term value
No matter how long you have known your client what is the secret to continuing to add massive value? Imagine when you first meet a new client and the early period of your relationship. In the beginning...