Why am I an EFA, what benefits are there for my clients and for me?
Working as a financial advisor, especially by consulting private clients, crucially relays on relationship management as the service has to focus on each individuals ́ interests. While looking for approaches that adequately honor the clients’ faith in our services, I realized that becoming a qualified EFA/ CFP provides me with the necessary tools to fulfill this objective.
While focusing on the individual client, the work of an EFA has to respect ethical standards to find adequate services that suit the individual. These rules, which should be a self-explaining standard for our industry in general, characterize the approach of an EFA/ CFP. This philosophy that stresses ethical rules as a moral code of conduct convinced me as a guarantee that the client ́s interests are best cared for.
Furthermore, the holistic process of planning and advisory is an approach I highly estimate. Even if it is nothing we may expect as a general procedure – e. g., a client is not necessarily willing to deliver all necessary information – this integrated approach allows the most specific advice. I am convinced that hereby we come closest to the objective that individual and sustainable recommendations should be the outcome of our work.
The rules to become an EFA/CFP persuade me as they are forcefully documenting the aspiration to be part of a standard of excellence. Though EFA/ CFP might not be the only certificate granting high quality, its understanding of how a trustworthy and reliable financial advisor should act convinced me as the most sophisticated and thorough method.