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| |  | | | | | We like to do things  a lot differently ..... there is a better way | | | | | | We are in our fourth year pioneering a new way, in Ireland, of serving our clients. 99% of financial advisors or intermediaries are still doing things the old way, which is more about selling, it’s more about products, and, it’s more about them. | | | | Our way, well, it’s all about you. It’s about your goals, your dreams, your choices. It’s also about fairness, it’s about transparency, it’s about value and it’s about long term mutually beneficial relationships. | | | | It’s an old fashioned view maybe, but “happy customers = growing businesses”, because integrity never goes out of fashion. |
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| | | | Look, it’s not that many (or most) of the providers in this industry are bad or dishonest, but the industry is set up in a way that doesn’t put the customer first. We think that needs to change and that’s why we have pulled our business apart and put it back together four years ago, with the customer at its centre. |
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| | | | | | The Old Way | | | The vast majority of financial advisors are focused on selling you products, they talk about investment funds and why this investment product is better than that, why this pension fund is better than that etc. Some have access of lots of products, some only have access to a few and they need to sell you a product so that they get paid in some way for their time with you. They sell you a product and then they get paid a commission from the product provider, which will be some large financial institution. |
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| | | | So do you, the customer, get a free service in that case? What’s that saying, “there is no such thing as a ____ _____”, and this situation is no different, the customer always pays. As a business owner yourself, how do you define a customer? You provide a service, you provide value and the customer pays you in return, otherwise they are not a customer, they are somebody you give free stuff to. Some people would lead you to believe it’s free, but that’s just not the case 99% of the time. | | | So when you buy an investment, pension or savings product, your advisor gets paid a commission, and the financial institution, that are providing that product, take that money from your investment.
Now if you don’t buy a product, how does the financial advisor get paid for their time? Well they don’t, not by you anyway, they get paid by the people who buy the products and so the commission that gets paid from your investment pays for the guy who didn’t buy. Fair enough? We don’t think so.
Now paying for the service or the product is not the problem, and even paying via commission is not the problem, BUT do you know how much you are paying? If you pay €10,000 into your pension, how much of it actually arrives in your pension fund? How much does the financial institution take and how much does the financial advisor get in commission? Only when you know what you have paid, can you make a value judgement.
If you buy yourself a coffee and it costs €2.50, you can make a value judgement; if you pay €12.50, you can make a value judgement (and we hope it was really great coffee) but, if you don’t know what you pay, how can you decide if it was a good deal? You can’t.
This old model of financial advice is too much about products, it’s too much about selling, it’s too much about invisible costs and it is way too far from being about YOU. |
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| | | | | | | The New Way Our Approach It’s all about you | | | | Financial planning is not about products, it’s not about funds, it’s not even centrally about money, it all about YOU.
Your Life, Your Goals, Your Dreams, Your Choices and Your Decisions. | | | We work with you to understand your goals, we work with you to build clarity and we work with you to build a financial plan to reach those goals.
We work with you to get very clear about where you are today, where you want to get to and what you need to do to get there. |
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| | | | Now that doesn’t mean we have a magic wand, and we can make all your dreams come true. Don’t mix us up with Disneyland. All accomplishment begins with a reality check of where you are and what you have and we can maximise where you can go from there. That been said, when you know what you want, and what it takes to get there, the how to get there has a way of showing up, and sooner is always better than later. | | | So we provide you with service, we provide you with value and you pay us a fee, that’s fair enough, isn’t it? You see that way, we need to keep on our toes, you know what you are paying and if we want to have you as our long term customer (and we do) then we work hard to keep you happy. It is this way in our business, your business and any successful long term business.
So for us, it has to be all about you, it has to be about value, it has to be about transparency and it has to be about results. The industry will change, it will have to, but we are not for waiting, we’re leading.
There is a new way, there is a better way, we’d love to tell you more about it, so call us today. |
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| | | Copyright 2011 © Joe McGuinness & Co. Ltd trading as framework financial is regulated by
The Central Bank of Ireland
: Unit Ab1, Centrepoint House, Rosemount Business Park, Blanchardstown, Dublin 15 | |
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