6 Reasons Why A (Good) Financial Planner Is Like Your Doctor

Financial planner

I was wondering the other day who do doctors and other medical professionals compare themselves to?

What I mean by that is, in the financial planning profession (and probably many others too), doctors are often used as an analogy for best practice. This got me thinking about how a good financial planner is much like a good doctor. Here are 6 reasons why:

1. A good financial planner takes time to listen to the problem. They make sure the client is properly heard and the problem is explained in the client’s own words.

2. They ask questions to get a better understanding of the problem. They use questions to build-up a thorough understanding of the issue and aim to get to the root cause rather than just the main symptoms.

3. They only make a diagnosis once they have all the facts. They don’t immediately jump in with a solution to the initial observation because they know nothing is that straightforward and they want to rule out all possible options without making assumptions.

4. Good financial planners, like good doctors, care about your welfare. They know they have a duty of care to their clients and want to make sure their lives are better because of the relationship they have with their trusted adviser. Their clients are the people, not their money.

5. A good financial planner is a vital part of the community. Not only might they be the trusted adviser for many people within a community, but they are also an active part of that community too.

6. They think holistically about the solutions to the problem. They don’t rely on one solution to fix all problems. Doctors don’t have a ‘go-to drug’ that is prescribed to all clients whatever the solution but take an independent and unbiased approach to finding the most appropriate solution. The same is true of good financial planners.

Your doctor will see you now: 


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