The nature of a cash flow-based approach to financial planning, even if it is centered around the client’s goals, means that any platform assisting in the creation of such a plan should account for a few realities that clients often face, such as what to do about current overspending in a budget or unrealistic goals based on the ability to save towards those goals. In each of these cases, the client ends up with one or more time periods in which they have negative net cash flow. You as the advisor need to decide what to do about the negative cash flow, and at Advizr, we’ve recently given you another tool to help with this decision making process: a simulated loan that can illustrate what it might mean to debt finance the negative cash flow. How is this tool best used? Let’s look at a few examples.
Expert-level financial planning that is intuitive and not a laborious or onerous task. This is core to what Advizr began with and focuses on when we look at the independent channel of the advisory space. Now, as demand from enterprises and institutions for our system grows, we began to ask the underlying reason for this demand. The recurring theme we uncovered is this key core concept: our discovery and profile process.
The US unemployment rate just hit a 10-year low of 4.3%. All financial services firms are experiencing difficulties in hiring staff, but it seems especially difficult to find qualified financial planners.
Search any job board for financial planner positions and thousands of results appear with 79,315 listings on Jobs.com alone! The vast majority of these openings are at wirehouses and large broker dealers. If this is a fair reflection of the market, one would suspect that these large firms are assembling sizable financial planning armies in their back offices.
What is behind this effort?