“This business model – everything that I am doing – is not just for people in their twenties and thirties – it is across the board and I work with quite a few very high net worth families and they come to me because there are no conflicts of interest.”
Holmes said she works hard with clients to figure out what they want their life to look like – whether that is starting a business, having kids, buying a house or travelling the world – and then creates a plan to make that happen.
When she started the business no one else in the US was using this business model. Fast-forward three years and there are about a 190 planners who have embraced a similar framework.
Holmes said this has been a wake-up call for product providers who have realised that the industry is moving in a new direction and that if they want financial planners to be recommending their products, they have to create excellent products at competitive prices.
There is often a mismatch between what advisors believe their clients want and what their actual needs are, she said.