Financial advice should never be a cookie cutter approach
By Warren Hanna
One of the areas that I enjoy the most in providing financial advice, is the coaching aspect of the relationship I have with our clients. There is such an incredible feeling when I’m challenging and coaching people to help them reach their financial and lifestyle goals.
Many of you would have seen my video series where I focus on ways for people to ‘Retire Right’. I’ve previously reflected on the parallels of seeing a fitness or golf coach and the similarities of seeking financial advice. I want to share a story that got me thinking!
Recently, after speaking with a trusted friend, I sought the advice of a new golf coach. Whilst my initial coach gave me some great key tips and pointed me in the right direction; I never felt the advice was personalised to my situation or swing. He was teaching the same swing style to everyone and not taking my specific strengths into consideration. There was a cookie-cutter approach in his coaching sessions that just didn’t allow me to progress.
I was ready for a new experience…
My next stop was a lesson with Tim Wood (2019/20 Victorian PGA Coach of the year) and his approach was very different. Tim invested the time to get to know me, discuss my specific body type, injury history, sports I had played as a kid and took all my measurements, all before I hit a ball! He took the time to get to know me by assessing what makes me unique so that he could develop a strategy specific for me and my golf game.
Advice should never be a one size fits all approach. Whether it’s discussing your financial situation or in my case having my golf swing assessed, advice should be about you and what’s the right approach for your situation. As a team, JBS prides itself on providing a unique experience for every client and developing a strategy and plan that is specific to you. That’s exactly what Tim did for me and what we work hard to deliver to our clients.
By understanding your goals and dreams, challenges, and successes we can work with you to create a road map to where you want to go. As in my case, sometimes it just takes a different coach to help you get there. I’d been told for my whole life that I aim to far-right and was always told to correct my swing but Tim’s assessment and understanding of my bodies natural way of maximising its strengths gave me the best chance of success. It was out with the cookie-cutter approach and in with some adjustments to my grip plus a few tweaks, and everything just clicked.
I could see the immediate benefits and it was such a great feeling, as a coach myself, I understand the benefits of having the right coach working with you. There is nothing more pleasing than when a client understands what they need to do to achieve their dreams, no one else’s, theirs!
I’m now enjoying my newfound love of my golf swing. The challenge I set you, are you fitting into a cookie-cutter approach with the financial advice you’re receiving; or are you getting a personalised approach from your Financial Coach or Adviser. The difference in results is amazing!
If you need help achieving your financial freedom number to reach your dreams, please reach out and discuss your situation with the JBS Financial team.