“…the value in monitoring (a financial plan) IS NOT really monitoring whether the client is on track (Were we “right” about projecting uncertainty?) but instead making sure the goals we are working toward achieving are the RIGHT GOALS. While the markets are uncertain, we can consider and plan on the impact of a lot of the market’s uncertainty, but these random life occurrences, changes in values or goals, these are even MORE uncertain and useless to try to plan for in our advice”.– David Loeper
I read this yesterday and had an ‘ah-ha’ moment. I catch myself monitoring plans from the point of view of whether we are on track from time to time. Loeper clarifies the value individuals seek from their advisors. Clients’ values and goals change over time.
Are we still looking at your correct personal goals?