Why the Customer Isn’t Always Right in Financial Planning

<p class="Body" style="margin-bottom: 0in;"><span style= "font-size: 12.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-fareast-font-family: Arial;"> In nearly all of the retail, restaurant and hospitality world, the old saying is that “the customer is always right.” But when it comes to financial planning, it’s probably not wise to subscribe to that idea. What’s the point of having a financial coach if your advice is better than your coach’s advice? Let’s talk about some statements you might hear from clients that might require you to push back because the customer isn’t always right.</span></p> <p class="Body" style="margin-bottom: 0in;"> </p> <p class="Body" style="margin-bottom: 0in;"><strong><span style= "font-size: 12.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-family: Calibri;"> Here are some of the things we discuss in this episode:</span></strong></p> <p class="Body" style="margin-bottom: 0in;"><strong><span style= "font-size: 12.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-family: Calibri;"> 1:05</span></strong> <span style= "font-size: 12.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-family: Calibri;"> – When someone says, “Now is the time to get into or out of the market.”</span></p> <p class="Body" style="margin-bottom: 0in;"><strong><span style= "font-size: 12.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-family: Calibri;"> 2:24</span></strong> <span style= "font-size: 12.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-family: Calibri;"> – “This is what I want to invest in. I just need you to pick the exact funds for me.”</span></p> <p class="Body" style="margin-bottom: 0in;"><strong><span style= "font-size: 12.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-family: Calibri;"> 3:07</span></strong> <span style= "font-size: 12.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-bidi-font-family: Calibri;"> – When someone doesn’t want