The idea behind using “GEN” for our group’s identity is to remind ourselves constantly of our mission statement – Impacting GENerations…

A “GEN Planner” is a financial planner who uses Building Transferable Wealth as a guide to help people in their personal financial planning.

If you like the way we have helped our clients, why not give us a try?

There are many different ways financial planning can be explained.

In GEN, we see it simply as the process of building transferable wealth. In other words, financial planning must lead to savings and the end of financial planning is transferable wealth.

Generally speaking, the earlier the better.

Life is a series of adjustments and the earlier you start, the more time there is to review and make the inevitable but necessary amendments along the way.

A professional financial planner is like a trusted second opinion who will ask you the “Have you thought about this?” and “Have you thought about that?” type of questions which you will never ask yourself.

Generally, it’s either they don’t have the time or the expertise to compare.

Product comparisons are only meaningful after your financial needs are clearly identified. General comparison is not useful as products with lower premiums may not always have the features or benefits that will fit your needs and solve your problems.

When product benefits are plain and simple, meaningful comparisons can generally be made.

That’s a tough one to answer. Part of it depends on your needs. Most financial planners use an income allocation model as a guide. We have one in GEN which we use to educate clients on how much should go into risk management, retirement and expenses.

The obvious answer is the way the financial planner is remunerated. You will pay a fee for receiving financial advisory services in a fee based arrangement while the financial planner receives commission based on the product(s) sold in a commission based arrangement.

Tip: The different methods of remuneration will even itself out over a long term relationship so don’t let it confuse you in deciding who you want as your financial planner. The focus should always be on the value of the work done.

You can keep in mind these 5 tips:

  1. Get referrals
  2. Find out about their financial planning philosophy
  3. Enquire about their education and training
  4. Meet face to face
  5. Ask if they hold any professional membership

Or you can try a GEN planner first!