Part of the reason the Secret Society of Real Financial Planners (SSofRFP) is so secret is that what we (real planners) do is still a mystery to most people.
A big, dark mystery.
Why?
- Real planners have been busy actually planning and have never really seen the value in spending time pulling the curtain back to show people what we were doing.
- Some of us have been hesitant to give away the secret sauce. Worried that if people knew what we were doing they wouldn’t need us. They would just do it themselves.
Both reasons are changing. The SSofRFP is starting to get restless. We are starting to realize that if we don’t tell our story, we will forever be he defined by an industry that doesn’t look or feel anything like us.
We’re also starting to realize what celebrity chefs, and at least one very good software/design firm, realized a while ago:
“…great chefs give away their recipes without fear of competition. The explanations you get about how things work are just concepts and pointers to get the ball rolling. The actual skill, performance, or understanding comes from the long haul of practice toward mastery.”
Time to pull back the curtain!
{ 5 comments }
I say pull away! I think the truth about the fiduciary relationship between a planner and a client in contrast to a broker or commissioned sales rep should be exposed and explained to anybody who invests. This is the biggest single issue investors need to know when seeking help.
I say pull away! I think the truth about the fiduciary relationship between a planner and a client in contrast to a broker or commissioned sales rep should be exposed and explained to anybody who invests. This is the biggest single issue investors need to know when seeking help.
It's funny that you allude to Penn & Teller in the article. I first saw them over 20 years ago and most recently a couple years back in Las Vegas. They often state that the reason you can trust them is that they tell you flat out that they are going to lie to you! (If you play along, the lies are all harmless anyway, at least in their hands).
Were that it were true in finance. True professionals (fiduciaries) tell everyone right out there is no secret formula. Bernie Madoff really could not make your money levitate. P&T have proven over decades that audiences can handle the truth. Real financial advisors know that also.
Paul Meloan
It's funny that you allude to Penn & Teller in the article. I first saw them over 20 years ago and most recently a couple years back in Las Vegas. They often state that the reason you can trust them is that they tell you flat out that they are going to lie to you! (If you play along, the lies are all harmless anyway, at least in their hands).
Were that it were true in finance. True professionals (fiduciaries) tell everyone right out there is no secret formula. Bernie Madoff really could not make your money levitate. P&T have proven over decades that audiences can handle the truth. Real financial advisors know that also.
Paul Meloan
It's funny that you allude to Penn & Teller in the article. I first saw them over 20 years ago and most recently a couple years back in Las Vegas. They often state that the reason you can trust them is that they tell you flat out that they are going to lie to you! (If you play along, the lies are all harmless anyway, at least in their hands).
Were that it were true in finance. True professionals (fiduciaries) tell everyone right out there is no secret formula. Bernie Madoff really could not make your money levitate. P&T have proven over decades that audiences can handle the truth. Real financial advisors know that also.
Paul Meloan
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