Episode 17 – The History of Financial Planning

In this episode Randy, Jeremiah and Laura discuss the history and evolution of financial planning, from the Great Depression to the present day.

In this episode Randy, Jeremiah and Laura discuss the history and evolution of financial planning, from the Great Depression to the present day. They explore how the industry has changed over time, including the emergence of certified financial planners (CFPs) and the impact of technology. Randy, Jeremiah and Laura provide historical context of financial planning and insights into the future of financial advice. They emphasize the importance of understanding financial designations and fiduciary roles, and stress the need to balance technology with client education and empowerment to ensure financial independence and security.

Reach out at [email protected]

This week on Building Wealthy Habits:

  • 0:00:00 – Discussion of the history of financial planning, including the creation of the SEC after the Great Depression, the introduction of Social Security, and the transition from pensions to 401ks.
  • 0:13:20 – Discussion of different financial designations like CFP, CPA, JD and their roles. CFP is highlighted as the “quarterback” for coordinating different aspects.
  • 0:15:05 – Fiduciary duty is discussed and its importance for prioritizing clients’ best interests. Signs that an advisor is doing a good job are covered.
  • 0:17:58 – Challenges of understanding clients and structuring financial independence. Predictions that face-to-face conversations will have renewed value.
  • 0:20:36 – Discussion of where the industry is headed with technology. Complex client needs are highlighted as an opportunity area. Importance of money in everyone’s lives is discussed.

Connect with Jeremiah:

  • LinkedIn: https://www.linkedin.com/in/jeremiahjlee/
  • Email: Jeremiah@tricordadvisors.com

Connect with Laura:

  • LinkedIn: https://www.linkedin.com/in/laura-lee-59a83610/
  • Email: Laura@tricordadvisors.com

Connect with Randy:

  • LinkedIn: https://www.linkedin.com/in/rkbarkley/
  • Email: Randy@tricordadvvisors.com

This content is developed from sources believed to be providing accurate information. The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. Individuals are encouraged to seek advice from their own tax or legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal legal or tax counsel. Neither the information presented nor any opinion expressed constitutes a representation by us of a specific investment or the purchase or sale of any securities. Asset allocation and diversification do not ensure a profit or protect against loss in declining markets. This material was developed and produced by Advisor Websites to provide information on a topic that may be of interest.

Scroll to Top