Money plans cannot ignore life plans4 min read 09 Jan 2017, 04:45 PM IST
Some financial advisers are including this approach which involves focusing on their clients' personal dreams and their emotional relationship with money
George Kinder, the founder of Kinder Institute of Life Planning, was in Mumbai recently conducting a session on ‘Life Planning’. The session was attended by many financial planners and advisers who were interested in this approach towards money management. This is a more personalised extension of financial planning (read more about it here: https://mintne.ws/1FKtOBR). For clients, it’s about sharing and acknowledging values that drive their dreams rather than just enumerating financial goals. For advisers, however, it requires a conscious shift in the way they approach a client relationship. If financial planning propagated a shift away from product centricity to asset allocation, then life planning aims at focusing on personal dreams and one’s relationship with money. Here is how some of them are managing.