Financial Planning

Financial Planning

Financial Service Guide

Dear Mr. Klein,

This email is addressed to you with information on our Financial Service Guide, which will assist you in deciding upon your usage of our firm’s product, or not. This Financial Service Guide will give you information about the process, which can be followed if clients find our products unsatisfactory, or the client is unhappy with the services of our company. It also explains the procedures we use to handle both internal and external conflicts and how you as our customer can access them. Therefore, it is important for you to go through the Financial Service Guide to get a better understanding of our Company’s policies.

If you feel unsatisfied with our services, we recommend that you follow the appropriate step to submit your complaint as explained by Billingsley, Gitman and Joehnk (2017):

  1. You can contact your advisor and raise your complaint with If the complaint is not resolved within a period of 7 working days, then we recommend that you contact our offices directly by sending a letter to us.
  2. If the offices cannot resolve the matter is a satisfactory manner, then you are advised to raise your concerns to the Financial Department. We believe it is your right to be served and thus the financial team is always available to serve our valued clients.
  3. In the case that the issue involved has some traces of any unethical conducts, then you are advised to raise the concerns with the Financial Planning Association of the Firm. The team will help you deal with the matter at hand in a fashionable manner and ensure your rights are valued.

As your financial planner, it is my responsibility to organize and manage your finances, planning for your retirements and the benefits that you should receive, running of your businesses in case you are not around to conduct them by yourself and analyze your insurance cover and its effectiveness. The planning process usually involves six logical steps where we begin by determining the current situation of the client and develop the goals for their finances. We then find alternative actions and decisions on the use of the finances, and then evaluate the effectiveness of the choices and the risks that are involved. Finally, we implement the financial action plan with the consent of the client and continually re-evaluate the effectiveness of the plan.

Question 2: Understanding the Client’s Objectives and Making Assumptions

The ten best questions that could be asked to Mr. Klein to understand better his situation and provide an SOA would be:

  1. What do you think is the most appropriate way to spend your money?
  2. What can you tell me about saving?
  3. What can you tell me about your finances and how you plan to remunerate them?
  4. Tell me about your relationship with your employees?
  5. What is the challenge that you feel most affect how you spend your money?
  6. Tell me your future plans for the next five years?
  7. What do you think motivates you to work hard?
  8. How can you explain your current financial status?
  9. What is the best way you would wish you, children, to benefit from your income?
  10. Tel me your plan for the business this year?


The five assumptions that would be deduced to make recommendations are:

  1. He is a busy business man and may not have enough time to work on his finances.
  2. He is a family man and thus has responsibilities to his family.
  3. Klein has many employees that are under him.
  4. Klein is always on business trips far from his business centers.
  5. He pays taxes for himself as well as for his businesses.

Question 3: Building rapport in the first client Meeting

The first meeting with a client is important since it markets your Company and ensures that you capture the attention of the client. It is important to be presentable while on the first meeting. Potential clients look at the ability of the negotiating party and how the use of their language in explaining themselves. Maintaining eye contact is one of the methods that is best known to ensure good communication is achieved. In addition, it is important to listen keenly to the questions that the client may ask to take the time to provide reasonable and correct responses. This ensures that the communication is effective and there are minimum clarifications that may be needed (Billingsley, Gitman, & Joehnk, 2017).

The use of the appropriate body language is important when developing a rapport with the clients. In addition, it is important to nod and make sounds and gestures that encourage the potential customer that you are actively listening to their comments. Having a soft way of talking, being relaxed, and audible enough will help provide the client with the correct information and thus the communication will be effective.

Question 4: Professional/Ethical Situation

The meaning of “Ethical and Professional” is a phrase that can be used to describe the proficiency of an employee, and employer or a leader. It means that the leaders, employees and employers and other educated persons should conduct themselves with moral principles and should be truthful and have a sense of integrity.

A referral fee is a form of advertisement for MIS but it is unethical, thus I do not advocate for it. The acceptance of such a fee is more like corruption and thus is a negative practice as it violates the code of conduct of professionalism.  The legislative measures that MIS has breached include corruption, which is illegal, and the company has not explained to their clients about the defaulted loans and are still accepting their investments.

Two specific elements of the Financial Planning Association’s Code that apply to this scenario are the analysis of the client’s financial situation and identifying the financial planning strategies and recommendations that are applicable to the client. For the former, John Black has three children and has saved a sum of $50,000 which he wishes to invest for his children in the future. Additionally, the latter is represented in the event that John Black seeks advice on MIS and its accountability for him to invest his funds in.

My advice to Mr. Black would be to avoid working with MIS. This is because they are not fit enough to promise that his investment will have any returns since, at the moment, the scheme is not in a good financial position and there have been cases of defaulters who have failed to pay their debts. As such, I would advise John Black to find an alternative firm to invest in and carry out investigations concerning the same before risking his savings (Sestina, 2016). As their advisors, it would be important to notify them of the issues that are currently affecting MIS and advise them to request for their finances and invest them elsewhere. This would be good advice for them since they can benefit from the services of our organization and we can ensure their funds are not at any risk whatsoever.


Billingsley, R., Gitman, L. & Joehnk, M. (2017). Personal financial planning. Boston, MA: Cengage Learning.

Sestina, J. (2016). Planning a successful future: managing to be wealthy for individuals and their advisors. Hoboken, New Jersey: Wiley.

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