In this episode, we are going to talk about what a financial planner is. Tim briefly explained the history of how the financial planning industry evolved from passive planning to actively giving out advice. Dan mentioned that here in LBW, we believe a proper financial planner's role should be both a financial consultant and a family office manager. With that in mind, we actively choose not to sell products but sell services. Nathaniel later pointed out that it's crucial to understand your Advisor's incentives. How they get paid can make all the difference in what they would do for you. In addition, we discussed the disconnect between the public's view of our industry as a financial planner versus what we truly can provide.
