Financial Planners Have Taken a Huge Hit This Last Year

Most of the folks that work in the financial planning field have not done so well this year. Mostly because shaken investors are not ready to get back into the market, and many have ditched their stock brokers and financial planners because of the huge losses after the market collapsed. All this is really unfortunate as the market is up 50% off the bottom and had all those clients stayed in, or gotten out near the top as it crashed and then gotten in at near the bottom, they'd have made a good bit of money.

Not long ago, I was talking with a couple of financial guys at the local Starbucks and I said; "Hope all is well in the financial services world. As I understand it things have been pretty tough on you guys, haven't they?"

Indeed, I was talking to what turned out to be a financial planner and their firm's in-house auditor. They told me most broker dealers are down over 30% this year on their INCOME, some 50% and that's a heavy income hit. Investors are sketchy right now, many were burned pretty hard, and they don't have the trust in the market they once did before the global economic crisis.

Due to the decreases in income many financial planners will probably get out of the business, which means when things return and they will, they always do, there will be more business for those who've remained. Still, in talking with the two-gentleman the other day, it just sounds like a familiar story, one that seems to be happening in nearly every industry these days. So, please consider all this.

Lance Winslow is a retired Founder of a Nationwide Franchise Chain, and now runs the Online Think Tank. Lance Winslow believes in watching your money carefully, and if you have diabetes watching that even closer; diabetic sugar

Note: All of Lance Winslow's articles are written by him, not by Automated Software, any Computer Program, or Artificially Intelligent Software. None of his articles are outsourced, PLR Content or written by ghost writers. Lance Winslow believes those who use these strategies lack integrity and mislead the reader. Indeed, those who use such cheating tools, crutches, and tricks of the trade may even be breaking the law by misleading the consumer and misrepresenting themselves in online marketing, which he finds completely unacceptable.

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