Episode Summary

Navigating the world of financial advice can be a tricky thing. You're often confronted with baffling jargon, an overwhelming amount of choice, and a lack of transparency, which will typically leave you feeling more confused than when you started. Here to help us unpack these topics today is YFP team member, Justin Woods, PharmD, MBA who has had over 350 financial conversations with pharmacists! We talk with Justin about why pharmacists tend to be skeptical when it comes to hiring a financial planner, the various terms and titles used in the financial services industry, and what outcomes you should expect as part of the financial planning process. Tuning in you'll learn about key factors that hold people back from pursuing financial advice — like previous negative experiences — as well as an overview of how the financial services industry has changed over the years, and how this impacts clients. We also discuss key terms, like "fiduciary", and how understanding their implications can help you navigate the industry, before unpacking the four factors of financial decision-making and how planning can help you live a rich and meaningful life.

Links Mentioned in Today's Episode

• Webinar: A Pharmacists Perspective And Evaluation of the Practice of Financial Planning
• YFP 250: 10 Takeaways from 50 Financial Conversations with PharmacistsSeven Figure PharmacistYFP 208: Why Minimizing Fees On Your Investments Is So Important
• Unshakeable by Tony Robbins
• John Oliver Fiduciary
• Justin Woods on LinkedIn
• Justin Woods on Twitter
• Pyrls
• YFP Planning: Fee-Only Financial Planning for Pharmacists
• YFP Disclaimer
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