Good News for Debt Advice Industry

Its good to see the rounded and holistic approach to finances and debt issues being taken by another company. We have been established since 2008 and offer clients the spectrum of advice to ensure they cover all avenues to secure the best solution for them. As one of the biggest debt management firms in the North East our financial services dividsion is critical at eveyr stage of our advice process. Its sometimes the case that we underestimate our own levels of service until we read such stories in the news of people following our lead. Well done to Spencer Hayes and David Curley.

Posted by: David Wilson

All-Weather Financial Advisors

Some years ago at the annual IFP conference I ran a session with fellow member and insolvency practitioner, Kenneth Wright. We introduced the concept of being ALL-WEATHER financial advisors, not just a good-weather ones. We tried to show how important it was to deal with the client's DEBT portfolio as well as his ASSET portfolio since more problems come in that segment where most planners have little experience. Hence, they are UNABLE to give truly holistic, integrated or comprehensive advice and service. Be honest! How many of you reading this blog know how to advise on creditor deferral, cash flow crises, turnarounds, debt reconstruction and debt management or even IVAs and CVAs? With our current economic and job crisis in the UK (which will have fallout for years to come) how much value can we truly give to clients if all we know is how to advise on long terms goals (pensions, school fees), risk management (insurance), mortgages, asset allocation, etc? The advice given by many planners is safe, long term and looks good on paper and has a long delivery date when the adviser may not even be around. Conversely, debt and cash flow management is a SHORT TERM (even emergency) service and in great need within the client lists of all the bloggers here I believe. But unless planners promote their 'holistic' services to INCLUDE a strong (and competence based) section on DEBT management as well as ASSET management we are misrepresenting ourselves publicly when we say 'holistic'. Without proper training and resources planners can do more harm than good when clients face these problems - by omission rather than commission (the other type). I may have upset some of you who live on the asset side of the client's life but having been a fee-based ALL-WEATHER financial planner for many years this subject is close to my and my clients' hearts!!! Let me encourage you to learn this side of the business. You will establish loyalties and client bonding like you've never had before as well as powerful testimonials to help you build your business. IF you want some practice guidance and sources of info on this you can email me at jon@jongolding.com.

Posted by: Jon Golding