Chester and North Wales branch started the year with a session from Alex Wheelan of Vanguard and branch chair John Fachiri CFP^CM.
Alex gave a very educational session that covered various points to consider when using collectives and ETFs within a portfolio. There were some nuances that some of the branch member were unaware of on ETFs, such as, how the FSCS views ETFs, comparison of expense ratios and what to consider regarding due diligence.
John then shared some of the prospecting techniques that he has used over the past 25 years as a Financial Planner.
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He stressed that in today's business environment Financial Planners need to know what it costs the firm to provide the six-stage advice process, demonstrating his approach to calculating cost using a spreadsheet.
By highlighting the Financial Planner and administrator charge rates to show the cost from initial enquiry to the end of the first year's review, the firm can focus on prospecting effectively to attract more of the right clients who are willing to pay fees now and in the future.
In a new regular feature, members then discussed recent activities during the weeks since they last met, that might benefit others. This will help share good ideas and highlight anything that members may have overlooked on business and personal development.

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