Sample Marketing Letter About Independent Financial Planning

How to become your own RIA so you can become an independent financial advisor

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The Independent Financial Planning Philosophy

Being independent means not being controlled by a company or a financial institution in regards to how we conduct our business, method of compensation, and our recommendations.

This means that we can custom tailor everything we do to fit your situation, so YOU can choose what kind of services you want and how we get paid for it. You control what's important to you - not a big corporation.

Being independent also means that we're free to offer you what we consider to be the best solutions to your needs. We're under no sales quotas nor pressure to sell you the limited product or services of one company (unlike other so-called advisors who are captive insurance agents or brokers of various kinds).

We have access to every product or service worth getting in the marketplace - and sometimes, even the same ones as a captive agent or broker. Together we can shop the entire market to find the best solution to your financial concerns.

Together we'll decide if a commissionable product is best for you, or you can choose a more complex arrangement such as a detailed written plan for Fee Only, or Fee and Commission.

We also have "Discount Financial Planning" which is a very inexpensive way to obtain qualified financial advice. All this means that YOU decide what services you want, and how you want to pay for them. We offer very simple plans for less than $250, to plans as complex as your case may be.

If we're so objective- why do we deal in investments at all?

This is a frequently asked question. In fact, there is a widespread perception that the advice and recommendations of financial planners who only give advice for a fee (and don't receive commissions from the sale of products) are more objective.

You can, as stated above, choose a Fee-Only arrangement. But as a practical matter most of our clients prefer us to handle their investments as well. One of the primary motivations for seeking the services of a financial planner is to gain control of, and simplify the handling of a client's overall situation. We can simplify your life by doing everything for you except your banking and legal matters.

We can even do your taxes!

Who else is more qualified than our CPAs - since we already have spent time getting to know you? This integration of services can save you time, money, confusion, and help making money more efficient so you can concentrate on what you do best - which is making money!

But isn't there a potential conflict of interest?

You bet there is! And if you choose any kind of Fee and Commission arrangement, we deal with it by disclosing it to you in writing, and then we work extra hard to ensure that nothing interferes with our objectivity. We really do want you to be a satisfied lifelong client and tell others about how well we served you.

If you feel that we're serving our best interests instead of yours, you're not going to be happy, and that's not what we want. Satisfied, lifelong clients are our best source of referrals - and that's how we want to expand our practice.

Other Advantages:

Unlike other financial advisors that specialize in fast sales pitches - we take the time to educate you on the financial world we live in along the way. We want you to be an enlightened and educated client so you can make intelligent and informed decisions on matters crucial to your future financial success.

Most clients find the information and the learning process that we offer in the normal course of business our unique strength that makes us special.

Q&A on Financial Planning

Q: I thought financial planning was expensive and only for the wealthy, who needs and can afford it anyway?

A: Everyone needs financial planning, and everyone who is able to pay their bills can afford and should be making plans for their future goals.

Q: What are the key steps of doing business with a financial planner?

A: Step 1 is to become educated on the different kinds of financial planners available to determine which ones will best fit your needs.

Step 2 is to sort out the important factors: Your time required; the cost; what are they selling (advice, product or a combination); are the products sold compatible with true financial planning; are they qualified to give you a comprehensive plan, or do they "specialize" in just a small area, like life insurance.

Step 3 is to make sure the planner takes the time to really get to know you.

A planner needs this information to give suitable recommendations tailored to fit all aspects of your life. A true planner should ask you many very personal detailed questions for at least an hour.

Step 4 will be to listen to the advice. The planner should be educating you step by step while advising you. They should be explaining the financial planning process as well as the details of all recommendations.

You should feel like you've gained an understanding of the financial world we live in well enough to make informed decisions - that's what you're paying for. If you don't understand what the person is talking about, don't sign up!

Step 5 will be your decision whether or not to buy the product or services.

It will be a judgment call on your part if the financial planner did all the work to your satisfaction. You should trust them and feel the recommendations and advice are sound and will help you safely reach your goals.

Step 6 will be to make sure that the planner will keep in touch with you at least annually to keep your plan on track with changes in your life.

Q: How do I find an affordable planner to work in my best interest?

A: These are the first and hardest steps. Most people either find a financial services company in the phone book, or are contacted by phone. Your primary concern should be to ensure that your planner really is a financial planner (and not a broker or insurance agent whose recommendations could be tied to their only product).

Evaluating the different types of planners (and how they get paid) is a big undertaking that most people won't do. Fortunately, this is thoroughly covered in the first ten minutes of our first meeting.

Q: I've heard of a lot of bad press on financial planners. How can I find one that can be trusted to give advice to help me and not their commissions?

A: Unfortunately, regulations haven't standardized the profession yet. Anyone with a securities or insurance license can still call themselves a planner, and if nobody complains, get away with it forever. This is so even if they've had no formal training, don't conduct detailed personal interviews, and sell only one line of product (such as insurance). We all have extensive experience as real financial planners, and are registered as such.

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