Quote:
Originally Posted by Slava
I guess this is one approach, but that’s the point of hiring a professional. I feel like most of my clients are professionals and small business owners (or both), and they have other things on the go as opposed to learning my profession.
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I think the issue is that sometimes, people don't know what questions to ask and then their advisor is poor in guiding the client in that regards to the point the client thinks the advisor is useless. Individuals that know what questions to ask indeed do not need an advisor and can self develop skills.
Some advisors don't like clients that ask questions because they don't like answering the questions. But without knowing the bigger picture at times, how can they accurately advise if clients don't ask and they don't clarify? I've had to tell clients on occasion to contact their advisor to clarify, because AFAIK, that advice is valid, but not for the client's specific situation.
It's extremely rare I find clients happy with an advisor who navigated them around some idea that was valid, but didn't fit the client's situation (but they do exist). I've had to tell clients talk to their advisors about some of the advice they gave which seemed incorrect and it was nothing but pushback even when it was obvious it was wrong (ie: the idiot who said putting money into an RRSP doesn't affect the contribution limit, and I'm pretty sure he was mixing up the idea that you can decide not to fully claim the RRSP contribution in the year of contribution).
RE: Small/Medium business clients, were you the one who brought up IPP in a different thread?
TBH, many business owners likely aren't aware they exist to even ask about them. Many advisors aren't doing the right things to to feel confident in even bringing them up in conversations to recommend them. I think many underestimate the major gap between those that know, that's that don't know and those that know what they don't know.