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Financial Planning Weaknesses

Decent Essays

In financial planning, one must consider both the personal and business aspect of the profession. Without recognizing both, an advisor cannot expect to grow their business and expand their client base. The personal aspect allows advisors to better engage and connect with clients. In turn, an advisor hopes this leads to an increase in business. However, when considering the business aspect, an advisor must also recognize what is harmful or beneficial to his practice. As we said in class, we have to keep the lights on. Naturally there are strengths which apply to both aspects, while there are strengths mutually exclusive to only one aspect. My top three strengths relate to both the business and personal aspect of financial planning. The fourth …show more content…

Individuals with the restorative trait enjoy finding solutions to issues. This trait applies to both the personal and business aspect of financial planning. In the business sense, this trait can help an advisor create a more efficient practice. On the personal side, this trait assists advisors in better connecting with current and prospective clients. As individuals go to doctors and lawyers to solve an issue, clients do the same with financial advisors.

Achiever is defined on the VT strengths site as having a great deal of stamina and hard work. As an achiever, I do not enjoy having an empty to do list. To strive for continuous improvement is essential to evolving your business over time. Additionally, no two clients are the same. An advisor must always be working to discover what is best for each client and their unique situation.

Learner is defined on the VT strengths site as having a great desire to learn and want to continuously improve. Laws and the economy are constantly changing. To deliver the best service to a client, an advisor must continue their education well beyond college. Also, there are new discoveries everyday on improving your practice. This can range from better management of your employees to updating your model. A business and clients are in good hands if the advisor desires to continue their

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