My Haters... they called me a Snake Oil Salesman 😱

How funny! I’ve just been reminded of a time, 10-15 years ago, when I was often accused of being a Snake Oil Salesman.

The vitriol I received from some advisers at the time - including from some Chartered and Certified Financial Planners - for my advocating the vital importance of comprehensive cashflow modelling, is quite funny now. Many of these are well-known advisers (I’ll save them the embarrassment here).

What’s REALLY funny is I often see these same characters now extolling the importance of cashflow modelling, and saying ‘how on earth did we do the job without it?’ 🤔

That’s a very good question. How did you!? 😂

Some of them now talk like they invented it, like it was their idea! 🤣

One thing’s for sure, I’ve not earned any brownie points (or awards) for arguing my case with PFS and IFP chiefs - and other ‘Industry’ ‘leaders’ - who told me that cashflow modelling is ‘just not necessary’.

How things change.

But there's more! I’ve had folk turn up at my (unsponsored and totally independent) BACK2Y Conference, including a journalist, only to rip it apart, claiming Lifestyle Financial Planning was ‘nothing more than a cult’. And all of us life-centred, client-focused ‘believers’ were accused of selling Snake Oil. 

For years I’ve been knocked, belittled, laughed at - called Mr Marmite - for simply saying WAKE UP! We ALL need to change our focus - from our client's money to our client's LIFE!

Fact is, in the process of me standing up for what I believe in, I’ve caught out quite a few asset gatherers who have been masquerading as financial planners. Hence the haters. (Sadly, there’s still a lot of this going on! You know who you are. 🤐)

The best thing is when an adviser says to me, “Keep going Paul, you've changed my life and many others. In fact, you’ve probably helped more advisers transition to proper financial planning in the UK than any other individual, institution or professional body”.

Well, I’m not sure about that. But I’ve certainly helped and inspired quite a few. Many are now leading lights in the UK financial planning space. Many more are quietly spreading the word and inspiring others to join the revolution - the life-centred financial planning revolution. (My growing Inspiring Advisers community - now with members all over the world - is evidence of that.)

But there’s still a lot more to do. 

Sadly, the vast majority of consumers still have no idea that PROPER financial planning even exists! They have no idea of the massive difference between real life-centred financial planning and plain old financial advice - that is until they experience it for themselves. Then they get it, they love it and they tell other people about it.

Meanwhile, the Industry - aided by the Financial Porn - is still doing whatever it can to keep distracting advisers from what’s truly important. It will always do so. Remember, the Industry doesn’t want you to have a service proposition that stacks up WITHOUT selling, arranging, rearranging, distributing or churning a financial product or investment! 

❌ The Industry doesn’t want you to change your focus!

So, because of the constant distraction, it takes effort and discipline to change the conversation. Massive respect to all those advisers who’ve had the guts to do so. Your clients are in a better position because of it. You are changing the world of financial advice for the better.

🇬🇧 We're leading the field...

I truly believe those in the UK who ACTUALLY DELIVER lifestyle financial planning (i.e. to every client, every time) are now leading the world with fee-only life-centred financial planning. That's what my overseas members keep telling me.

I'm also told that many in the US, Canada and Australia could learn a great deal from us Brits. 🇬🇧

Let’s keep going. 😀 🙌

Let's face it, there’s a lot to be said for Snake Oil - it’s changing the world of financial advice, one adviser at a time.

👉 If you want to join our ‘cult’ 😂 check the link in the comments below. 

Here are a few more folk who’ve helped bring on the revolution: Prestwood Truth Voyant FE CashCalc Mitch Anthony Brett Davidson John Dashfield Andy Hart - Financial Adviser Alan Smith Stephen Browne Chris Budd Anthony Villis George D. Kinder Carl Richards Bill Bachrach, CSP, CPAE Steve Sanduski, CFP® Michiel Van Vugt Nick Lincoln