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Partners in Investment and Growth Futuro Financial Services ABN 30 085 870 015 AFSL 238478 Be a FOFA Force Of Fantastic Advice By Paul Kelly Director –

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Presentation on theme: "Partners in Investment and Growth Futuro Financial Services ABN 30 085 870 015 AFSL 238478 Be a FOFA Force Of Fantastic Advice By Paul Kelly Director –"— Presentation transcript:

1 Partners in Investment and Growth Futuro Financial Services ABN AFSL Be a FOFA Force Of Fantastic Advice By Paul Kelly Director – Network Services

2 Partners in investment and growth

3 On top of all this the last 12 months saw Futuro back office changes FOFA –BID –FDS Review/Develop/Implement Client Offers

4 Partners in investment and growth Behaviour Who felt or did any of these in last few years? not wanting to go out anymore not getting things done at work withdrawing from close family and friends relying on alcohol and sedatives not doing usual enjoyable activities unable to concentrate

5 Partners in investment and growth Feeling overwhelmed guilty irritable frustrated lacking in confidence unhappy indecisive disappointed miserable sad

6 Partners in investment and growth Thought 'I’m a failure.' 'It’s my fault.' 'Nothing good ever happens to me.' 'I’m worthless.' 'Life’s not worth living.' 'People would be better off without me.'

7 Partners in investment and growth Physical tired all the time sick and run down headaches and muscle pains churning gut sleep problems loss or change of appetite significant weight loss or gain

8 Partners in investment and growth Facts Deborah Legge, PhD in a report for health.com lists financial advisors as one of the 10 professions where workers are mostly likely to experience major depression in a given year “There is so much responsibility for other people’s finances and no control of the market. There is guilt involved, and when (clients) are losing money, they probably have people screaming at them with regularity.” Since the financial crisis there’s been an increase in the number of reported suicides among financial advisors. DONT LOSE SIGHT OF WHY YOU BECAME A FINANCIAL PLANNER AND THE GOOD YOU DO

9 Partners in investment and growth Financial planning Standards Council of Canada, 3 year Longitudinal Study involving Canadians from August 2009 to August Objective of the study was to determine if there were marked differences in professed well-being between those who have a comprehensive financial plan as opposed to those who have received limited, targeted advice (such as tax planning, retirement planning, etc.) and also compared to those who have received no professional planning advice. For the purposes of this study, financial planning was defined as follows: Comprehensive Planning (CP): The main financial advisor has provided financial planning for major life goals and events, or at least three of the planning components: household budgeting, tax, retirement, estate planning, investing, debt or risk management. Limited Planning (LP): The main financial advisor has provided advice or services related to one or two of the planning components. No Planning (NP): There has been no help obtained from a financial advisor, regardless of the situation.

10 Partners in investment and growth Value of Financial Planning Study Objectives & Outcomes To measure the impact of financial planning in three distinct ways: emotional, tangible, and quantifiable; To quantify the impact of financial planning services offered by Certified Financial Planner®/ CFP® professionals 2 compared to non-certified advisors; To determine whether there are differences in the impact of comprehensive financial plans compared to targeted specific advice

11 Partners in investment and growth On Track with Financial Affairs Those with comprehensive financial plans (CP) are substantively more likely to report feeling on track with their financial affairs compared with those who do no planning (NP) or only limited planning (LP). Feel on track with their financial affairs: 44% (NP) 73% (LP) 81% (CP) (CP)= comprehensive planning (LP)= limited planning (NP)= no planning

12 Partners in investment and growth On Track to Retire Those who have comprehensive financial plans (CP) and cite retirement as an important goal feel more confident in their plans to retire. Feel on track to retire when they want to: 50% (CP) 22% (NP) 39% (LP) (CP)= comprehensive planning (LP)= limited planning (NP)= no planning

13 Partners in investment and growth On Track to Save Those who have comprehensive financial plans (CP) are more likely to report that they have improved their ability to save in the last five years. Feel on track to continue saving: 62% (CP) 56% (LP) 40% (NP) (CP)= comprehensive planning (LP)= limited planning (NP)= no planning

14 Partners in investment and growth Can Deal with Bumps in Life Those who have comprehensive financial plans are more confident that they are prepared to deal with the challenges and bumps in life, such as: Unexpected financial emergencies: 60% (CP) 53% (LP) 28% (NP) Tough economic times: 65% (CP) 57% (LP) 36% (NP) Loved ones are financially looked after if something should happen to them: 73% (CP) 65% (LP) 41% (NP) (CP)= comprehensive planning (LP)= limited planning (NP)= no planning

15 Partners in investment and growth Can Live Life Today While saving for the future is crucial, it’s also necessary to consider today’s needs and desires. Compared to those who have not engaged in planning, those who do engage in comprehensive planning feel more confident in reaching the discretionary goals they identified as important. Annual vacation: 74% (CP) 44% (NP) Enough money to live the life they want: 61% (CP) 31% (NP) Money for splurges: 65% (CP) 31% (NP) (CP)= comprehensive planning (LP)= limited planning (NP)= no planning

16 Partners in investment and growth A Stronger Sense of Well-Being Those individuals who engage in comprehensive planning (CP) report higher levels of emotional, financial and overall contentment over those who have engaged in limited planning (LP): Achievement of life objectives: –79% better off Financial well-being: –85% better off Overall contentment: –45% better off Emotional well-being: –62% better off (CP)= comprehensive planning (LP)= limited planning (NP)= no planning

17 Partners in investment and growth The Difference a CFP Professional can Make: Education means Business Canadians who work with a CFP professional are more likely to report their financial affairs are on track than those dealing with non-certified planners (78% vs. 54%). More Canadians who are using a CFP professional believe that financial planning has helped them have greater peace of mind than those working with a non-certified planner (73% vs. 63%). More Canadians who engage a CFP professional believe they are closer to achieving some of their life goals as a result of planning than those working with non-certified planners (70% vs. 61%). Canadians spend 36% more time with their CFP professional than those working with a non-certified professional. CFP professionals continue to have longer-term relationships with their clients (average of 6.2 years) than non-certified professionals (average of 4.6 years).

18 Partners in investment and growth Value your advice – clients do “Financial planning has helped me have greater peace of mind” (73% agree if planner is CFP® professional vs. 63% non-certified advisor)

19 Partners in investment and growth Financial planners improve society As a society and advisors we understand how closely our financial goals are to our life goals, financial planning does have an impact on a society? An individuals’ financial plan (or lack thereof) impacts productivity at work, emotional stress, physical health, and their relationships? There is a social return on investment of financial planning?

20 Partners in investment and growth Force of Fantastic Advice Clearly your advice is valuable and measurable. Advisors and clients are emotionally engaged. BID all about matching objectives to reality and better client engagement.

21 Partners in investment and growth How can you position this to clients and the community: One firms positioning

22 Partners in investment and growth Force of Fantastic Advice ARE YOU TELLING THE WORLD ABOUT THE VALUE ARE YOU ADDING TO YOUR CLIENTS LIVES!

23 Partners in Investment and Growth Futuro Financial Services ABN AFSL Be a Force of Fantastic Advice Be FOFA’d Questions? Disclaimer This is general advice only. It does not take into account an individual's objectives, financial situation or needs, which are necessary considerations before making any investment decision. Opinions constitute our judgment at the time of issue and are subject to change. This report was prepared by Futuro Financial Services for the sole use of the intended recipient. Its contents should not be disclosed, in whole or in part, to any other party without prior consent in each case. To the extent permitted by law, Futuro, its employees, consultants, advisers, officers and authorised representatives are not liable for any loss or damage arising as a result of any reliance placed on the contents of this report. Please contact us directly should you have any queries in relation to the information provided in this Report on


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