Mitch Anthony coined the term Return on Life (ROL) but what is it about?
Framing it in the context of an (admittedly still unmeasurable) goal of improving a client’s “Return On Life” (ROL, as opposed to the traditional approach of trying to improve the client’s portfolio ROI), Anthony suggested that the six key value propositions of financial planning are:
Organization. A financial planner will help bring order to your financial life, by assisting you in getting your financial house in order (at both the “macro” level of investments, insurance, estate, taxes, etc., and also the “micro” level of household cash flow).
Accountability. A financial planner will help you follow through on financial commitments, by working with you to prioritize your goals, show you the steps you need to take, and regularly review your progress towards achieving them.
Objectivity. A financial planner brings insight from the outside to help you avoid emotionally driven decisions in important money matters, by being available to consult with you at key moments of decision-making, doing the research necessary to ensure you have all the information, and managing and disclosing any of our own potential conflicts of interest.
Proactivity. A financial planner will work with you to anticipate your life transitions and to be financially prepared for them, by regularly assessing any potential life transitions that might be coming, and creating the action plan necessary to address and manage them ahead of time.
Education. A financial planner will explore what specific knowledge will be needed to succeed in your situation, by first thoroughly understanding your situation, then providing the necessary resources to facilitate your decisions, and explaining the options and risks associated with each choice.
Partnership. A financial planner will attempt to help you achieve the best life possible but will work in concert with you, not just for you, to make this possible, by taking the time to clearly understand your background, philosophy, needs and objectives, work collaboratively with you and on your behalf (with your permission), and offer transparency around our own costs and compensation.
Are you ready to start your partnership with DC Advice? Take your step today to
- be organised
- to take accountability
- review your finances objectively
- be proactive about your future
- to educate yourself and finally
- have a partnership
Contact DC Advice today to get your ROL.
The information provided in this BLOG is of a general nature only and has been provided without considering your objectives, financial situation or needs. Because of this you should consider whether the information is appropriate considering your objectives, financial situation and needs.