fbpx
U

The Secrets of the Financial Planning Industry

February 26, 2016

Secrets of the Financial Planning Industry

Have you ever felt confused about what really goes on in the financial planning industry?

Many people take a do-it-yourself approach to managing their money. For some, this is simply a preference. But for others, it’s a direct result of confusion, mistrust, and bad information around the financial advice industry.

Traditionally, this profession has lacked transparency, and stories of bad experiences with salespeople disguised as “advisors” deters many people from even trying to seek out reliable, trustworthy financial planners. (And yes, they do exist.)

Wouldn’t it be nice to have a look behind the scenes and know what’s really going on? On today’s episode, we’re doing just that!

We’re digging in and shedding light on the things that you’ve always wanted to know about an industry that few truly understand. Get ready to pull back the curtain and understand what really goes on, what you need to know to identify the good and the bad in financial planning, and much more.

In This Episode, You’ll Learn:

  • How your financial advisor gets paid
  • Who the “unicorn” of the financial planning industry are
  • Why all financial planning business models have some conflict of interest
  • The difference between the fiduciary standard and suitability rule
  • Why performance is a fleeting concept and investing is not the solution
  • The top 4 credentials for financial professionals

Resources:

Tune In and Go Beyond Common Sense

If you like our common-sense approach to money, and would like to continue the conversation — we would love to hear from you! You can email brian [at] money-guy.com or bo [at] money-guy.com. And don’t forget to follow us on Facebook or connect on Twitter @MoneyGuyPodcast.

Did you enjoy learning about our secrets of the financial planning industry? If so, there’s a lot more where that came from!

Come join our community, where you’ll get access to 15 of our most recent shows! As a bonus, you’ll get our podcasts delivered straight to your inbox so you can listen to them at your convenience.

Most Recent Episodes

Can Money Buy Happiness? (Here’s the Truth)

Money and happiness aren’t directly correlated, but they are intertwined. Some believe that once they have a large, pie-in-the-sky amount of money, they will finally be happy. Others are working towards a more specific retirement number they hope will bring happiness....

Passive Income EXPOSED: 3 Ways to Actually Make Money (2022 Edition)

Passive income is a dream for many looking to get out of their 9-5 or just create extra income on the side. In this episode, we’ll break down different ways to actually earn passive income in 2022. In this episode, you'll learn: The easiest and hardest side hustles...

Millionaires Share Their Secrets to Financial Success! (2022 Edition)

It’s that time of year again: our annual Money Guy Wealth Survey episode. We’re back with all-new data for 2022, including new questions. You’ll learn who millionaires are, what they did to get there, and how they built their wealth. In this episode, you'll learn: The...

Dumb Financial Decisions That Americans Make! (Do You?)

Throughout our years of doing the show, we’ve seen more than our share of financial mistakes. Some are more common than others - in this episode, we’ll discuss some of the dumb financial decisions Americans make - and what you can do differently. In this episode,...

3 Things You SHOULD Spend Money On (Even During a Recession)

When is it okay to start spending money on things you want, but may not need? In this episode, we'll discuss when you can start spending money on "unnecessary" purchases, and what goods, services, and experiences are worth spending money on. In this episode, you'll...

3 WORST Types of Financial Crooks (Don’t Get Scammed!)

In the financial world, there are a lot of crooks that try to get into your pockets. From metaphorical crooks selling a bad product to literal crooks stealing your money, we'll cover the different types of financial crooks to watch out for and how you can protect...

Financial Advisors React to NFL Players Spending Their First Million!

Not many Americans will ever make over one million dollars in a year, but professional athletes regularly make that and more. In this react video, we'll see how NFL players spent their first million dollars after making it into the league. As we review their mistakes...

Everything You Need to Know About Real Estate Investing!

Over the years, we have had some great conversations about real estate investing. In this episode, we put together the ultimate guide to show you everything you need to know about real estate investing! In this episode, you'll learn: How to get started in real estate...

The Truth About The FIRE Movement! (Is FIRE Still Possible?)

Since the advent of the FIRE movement several decades ago, we have never experienced a period of higher inflation until now. With the market down over 20% and inflation at 40-year highs, is FIRE still possible in 2022? If it is, what does it take to become financially...