This discussion has been going on since I started serving customers and clients in this field of service. I like the proposals that my professional organization Advocis has recommended. They are common sense proposals and I know that they have put a lot of thought and work into the recommendations. They represent the advisor who wants the best for his or her customers and clients.
Advocis was the result of two groups that I belonged to merged a number of years ago. I belong to a few organizations and Advocis really focuses on lobbying the government to listen to the folks actually doing the job. The way many decisions are made and many proposals are made by past governments and regulators often excludes the advisors , kinda weird if you think about it. The way it is, we are starting to see some changes to this with the current government in my province. I don’t want to write a big long option on that, but a Saturday morning reflection , reminiscing of my own journey as it relates to this matter at hand.
I shared a post from a pastor who knows the heart aches of having a family member with Alzheimer’s and it had some recommendations for language choices . Remember vs Reminiscing, Reminiscing is the better approach . Thank goodness my phone has spelling recommendations, Reminiscing is a word I struggle to spell correctly. Yet here I did it and I learned to adapt and move on with the aid of the tools provided. I did not have this tool when I first started. It was called a dictionary and I still have mine from public school Euphemia Township. I remember my grade one teachers name. Mrs Johnson or was it Johnston ? I do not remember what she looks like, I just remember her name and that feeling, I must of liked her. I wonder if they still let you bring a mat to school and have a nap on the floor a couple times during the day ?
Now The years keep marching on, I remember when I first started with Professional Investments , my dealer , my intermediary that held my license and gave guidance in what where good choices to invest in, and who made sure the paperwork was done properly. I believe my business stock card from the dealer said Sales Representative . It was not long that with my background in tax and accounting and under the guidance of my quasi branch manager / mentor Elaine Gray ( poor lady passed away much too young) and
My new zeal for the industry I looked at the card as a way of distinguishing myself in the financial services industry and Independent Financial Advisor became card number two. This is going back to 1993 , over 25 years now.since I studied and qualified for my Mutual Fund licence and subsequent Life & Accident Sickness License being sponsored by Great West Life at that time for the Life License.
After quite a few years, think about 5 years If memory services me, there was a decisions made, promoted by the regulators, OSC or perhaps it was when the MFDA got rolling, in the firm to change every one back to Sales Representatives, and discontinue the use of Independent , I think Financial Advisor was still ok. But the talk was not for long, only way to say you where a financial advisor was if you studied and achieved the CFP designation. However the writing was on the wall sort of speaking.
I always was ( and still do) giving a lot of thought to branding and trying to figure my Why. Why am I doing this business? for Whom ( that was a given in that it could be for everyone, yet specializing, niche markets are the buzz words of the day and still are, and not just my industry. The What and the How .
“Where Client Goals Become Our Goals”
That was my first official Vision and Mission statement. I would often call that my tag line, yet it represented the vision, mission and core values of what I was doing and want to do for my customers and clients. We write it on everything, letters, cards, magnets, spoke about , seriously got those words out there. It made more sense to me to share with prospective customers and clients and advocates what we did and how it could benefit them than engage in the discussions about what my title was.
I see that the title about what I am is still being debated like it will make you a better choice in a crowded marketplace with more choice than ever before, the choice is literally insane.
Now what on earth are you trying to share about Timothy ? Here is the link ,
Survey results underscore the need for title protection for financial advisors | Investment Executive
As the famous and legendary fellow, would always say “Now for the rest of the story “. What was his name, do you remember ? I will post my favourites once done writing.
Now for the rest of the story.
I decided that I did not want to get in this title game and the challenges of regulations, so I made my own . Simple and practical, and actually better describes my who and what I do with two words.
Tim Ross, Family Advisor ®
Family Office providing Omega Stewardship ®
613-213-4625 Cell/Text firstname.lastname@example.org
Helping Families Achieve ...Life’s Major Goals ®
OMEGA STEWARDSHIP ®
* One Stop Process Driven Approach for Retirement & Income Planning
* Personalized Tax Management Solutions for Individuals & Business Owners
* Confidential Wealth Management Solutions
Mutual Funds through Professional Investments
Brock Shores Financial
If you want to get reminded of your Why, I encourage you to connect with Gary , his Kick Ass presentations are inspirational