Christine Hornery

What many clients want from their relationship with a financial planner is financial freedom, according to 2012 AFA Female Excellence in Award winner, Christine Hornery, director of FMS Group, but that means different things to different people.

“For some people, financial freedom might be about accumulating a certain dollar amount but for others it might simply be feeling they can keep their heads above water and move forward,” she said. “What some people may not realise is that they don’t need to have a lot of money to start on the journey to financial freedom – just a desire to structure what they already have to achieve the best possible outcomes.”

Ms Hornery said that financial planners can help people get to where they want to be by implementing strategies that meet their individual needs. “I believe a good planner will listen to their clients and really understand that not all client needs are the same,” she said. “They will metaphorically walk a mile in their client’s shoes and will also really believe in the advice they are giving. The litmus test for me personally is if I would not be prepared to follow my own advice, if I was in my client’s position, I shouldn’t expect my client to.”

Ms Hornery said she also believes great financial planners not only educate themselves but also their clients. “They communicate regularly and are not afraid to have the hard conversations with a client when necessary. When markets fall, for example, we should be calling our clients more often, not avoiding them.”

The secret to building a business that can service many clients well, according to Ms Hornery, lies in creating a structure that empowers financial planners to deliver great advice.

“In the not-too-distant past, being a good planner did not necessarily mean you had to be skilled at running a business, but I think going forward, we have to be,” she said. “We still have considerable challenges ahead and if we are to lift the number of people currently seeking advice and help them enjoy financial freedom – whatever that means to them – I believe we are going to have to look for ways to improve our business model. This means implementing innovative processes, practices, technology and perhaps most importantly, people.”

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