MarketWatch Invites Liz to Share Her Goal-oriented Approach

August 31, 2017


When financial advisers ask about their clients’ goals, they often hear something like “I want growth with moderate risk.” Trouble is, that’s not a goal.

An answer like that can lead to problems both for clients, who may have trouble making decisions about what they want to accomplish with their money, and for advisers, who may struggle to give clients the kind of service they need.

The matter becomes even more important as the number of investment choices has exploded, leaving investors feeling frustrated with portfolios that can resemble cluttered garages: They might know what they own, but they don’t know where it’s hidden or what it was used for anymore.

To clear the clutter, advisers should focus their clients on goals, setting a measurable beacon for their portfolios and establishing a shared understanding about what they’re working to accomplish.

Doing so can help both of you focus on a plan, rather than get distracted by market movements.

To do that, Liz suggests a two-step approach: Focus first on major life stages, then on defining specific financial goals within those stages. Conversations framed this way can lead to a clear — and shared — vision of your clients’ priorities.

This article from Liz Miller originally appeared on MarketWatch. To read the full version, click here.

To gain even more guidance to a clutter-free approach, pick up a copy of Liz’s book, “Clutter-Free Wealth: A Goal-oriented Guide to Gaining Control of Your Affluence.