In this episode of Tony Talks Wealth, I talk with Steve Conley, the author of ‘Your Money Or Your Life’, and the founder of The Academy Of Life Planning, about the changing face of global banking, the importance of financial education, and how you can begin to create wealth through pure financial planning.

Key Takeaways

  • In the UK market there is a large problem with the advice gap, caused by the lack of trust in financial institutions. Surveys show that this image is changing slowly, but there is still work to do.

  • Products are designed to manage wealth, run it, or reserve it, but no product can create It’s the client who creates wealth. We can aid them by creating a plan. It is here that we add the most value.

  • The financial industry has, for the longest time, been designed around the industry taking a cut of your earnings, holding it, and returning what’s left at the end of your life. This system does not work. 95% of retirees have less than 100k when they retire.

  • First we must plan goals and actions with our clients. Goals must affect each element of life including mind and body, heart and spirit. Action plans are project plans, looking at money and the financial architecture required in order to support the life plan.

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