Who is the one friend that is closest to you? A best friend is somebody who knows every last thing about you, yet still manages to like you anyway. Yet, many of us never realize that our financial planner is in fact one of our best friend.

Why Financial Planner is possibly your best friend?

1. You told your financial planner the secrets that you kept away from your spouse

  • A wife asked her financial planner to plan a will in secrecy, didn’t want her husband to know that she has a “secret” bank account.
  • A husband wrote a love letter to his wife, that’s included in his will.
  • A rich guy bought two identical life insurance policies. The first one is nominated to his legal wife. The other one is assigned to another woman not known to his wife.

2. You inform him your top secret financial situation that you kept away from your family

  • A husband asked his financial planner to cancel all automatic payments of insurance premium because he had lost his job for months. But he didn’t inform his family because he didn’t want them to worry about him.
  • The financial planner knows your income, your fixed expenses, and all other details of your cash flow and net worth. Your parents might not know such details of your money matters.

Photo by brunobear

3. The insurance agent is the first person you call when you or your family members need immediate medical treatment or hospitalization

  • A father called his insurance agent and asked his opinion whether his child’s medical insurance covers the event.
  • A client called his insurance agent from the hospital and complained that the medical card can’t be charged! The agent said,”Of course! It is not a credit card.” (This is a joke 🙂 )

4. Your financial planner is always there to listen to your nagging

  • A businessman can’t tell his employees how bad his company is doing. He’s afraid that his employees will lose confidence. When his financial planner came to him and show much empathy, he told the consultant everything.

5. Your financial planner cares very much about your wealth and health

  • When you grow your wealth, he can charge more fees or earn better commission
  • Insurance agent can only sell you policies if you are healthy.
  • When you passed away, your financial planner produced a check of the highest amount to your family members.
  • They are concern about your children’s education needs, your retirement needs, your protection needs and your investment needs.

6. Your financial planner seems to provide help whenever you need it

  • they introduce baby sitters to you after you have a newborn baby
  • When you are starting a new business, your financial planner is the first one who engage a Feng Shui sensei to “evaluate” your office.
  • You ask your financial planner to introduce trustworthy lawyers, doctors, accountants, bankers and other professionals whenever you need them.

It is a long term relationship between you and your financial planner. I believe that there must have chemistry sparks in order for this relationship to grow. Is your financial planner one of your best friend?

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Personal finance author and trainer

    1 Response to "Financial Planner is Your Best Friend"

    • […] In case you missed my best article in last week, here are the ones I think you shouldn’t miss: Why Financial Planner is your Best Friend? and Your Financial Adviser is not a […]

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