Life-First Advisor

This book, “The Fife-First Advisor – How the new financial coach connects ‘money’ and ‘meaning’ should be compulsory reading for financial advisors.   In an increasingly technological world financial advice has become commoditized. The only true value of an advisor is to provide the human touch by building up a trusted long-term relationship with clients. 

This book is a “bible” detailing a major shift in how advisers work with their clients.  Even if you are a totally result and product focused advisor, you should take note that life-first advisers have twice the average AUM and four times the income of generic advisors. 

The authors are two giants of financial advice and their passion for helping their clients is obvious. Barry La Valley hails from Canada and is recognized as the originator of the “life” based approach to financial planning.

David Haintz is the only advisor to have won both the Australian Financial Planner of the Year (2005) and the Australian Best Practice of the Year (2004).  David is now a consultant to financial advisers in Australia (Global Advisor Alpha).

This book is a road map on how to add value to your clients’ lives, how to communicate, and enable them to see what they wish to achieve.   The adviser then uses financial expertise in strategizing to attain their true goals.   The adviser becomes the client’s coach, mentor, confidante, and educator. 

The book draws from neuroscience, behavioral psychology, sales, marketing, and coaching.  It marries them into a comprehensive guide on how to position yourself and deliver as a life-first adviser.  The book trains the advisor in conversation, connecting with clients, and understanding their client’s true wishes and concerns.

The authors’ long-term clients are ageing, and all will face life-changing events.  Our authors teach how to discuss these concerns and prepare their clients in advance.  Such issues as retirement, health, relocation, financial concerns, family issues, and elder care are all considered and understood by the clients.

Each of these life transitional events is planned for and assisted by their advisor/mentor/partner.

The authors define how to position yourself as a life-first advisor, how to market your practice to existing and new clients, and how to provide continuing client contact and education.  While many advisors would consider they offer holistic advice a life-first advisor is more deeply involved, ensuring his client understands his true value.

While technology cannot displace the empathetic experienced advisor, innovative planning software developed by Financial Mappers, provides maximum assistance for advisors wishing to nurture client relationships.

Glenis Phillips SF Fin – Good Financial Reads