Let’s explore what fully comprehensive financial services means and why it represents the best and only “marketing” you’ll ever need.  When defining comprehensive financial services the temptation, as a financial advisor, is to “go technical” and describe it in technical terms.  In other words to establish that a comprehensive plan has a detailed written plan, along with recommendations, focused on each clients’ objectives concentrating on money management, tax planning, estate planning, insurance planning and overall financial planning (including financial projections).  Even as I write this definition I find it insufficient. Far too limited.  The Certified Financial Planner Board of Standards, Inc. defines it as the process of meeting life goals through the proper management of finances achieved through a six step process:

1. Establishing and defining the client-planner relationship.
2. Gathering client data, including goals.
3. Analyzing and evaluating your financial status.
4. Developing and presenting financial planning recommendations and/or alternatives.
5. Implementing the financial planning recommendations.
6. Monitoring the financial planning recommendations.

This definition is fine, but still seems lacking. I'll share my definition of fully comprehensive financial services in the next issue.