Aug22499 10 | Acquisition International, Worldwide Finance Awards 2023 May23631 Best Financial Planning & Wealth Management Firm 2023 - Western Australia rivately owned Barns Financial Services deliberately chose to locate its business in the suburbs, to give it access to a wide range of clients. It loves dealing with all kinds of people, and helping them to reach their investment goals. It believes that financial planning is about more than just investing money, which is why it focuses on cash flow planning, and year on year tracking, to guide clients along the right path. It has very strong values and an investment philosophy that increases the probability of success. The company is awaiting implementation from government from the recent ‘Quality of Advice Review’. It realises that regulations are a major factor when it comes to providing financial advice, but, unfortunately, it also recognises that previous legislation has lead to some unintended consequences, effectively making provision of advice for those that need it the most something unattainable. It looks forward to hearing the government’s response to the review, so it can continue offering it clients the top quality and efficient services they deserve. Over the previous year, Bans Financial has been investing heavily into staff training, and growing as a business providing clients with the best possible service. Administration can be a burden, as it consumes a lot of resources and takes time to ensure compliance. None of this necessarily leads to better advice for clients, but it is required. The company hopes that through training staff, who share similar values, its business will be able to expand and flow forward to future generations. It also feels that enabling staff to have exposure to other parts of the business it will help them to achieve greater understanding of the whole financial planning process. Barns Financial Services is fortunate in that it is able to share ideas with trusted colleagues within the financial world, with the intention of finding better outcomes for clients. It meets regularly and discusses numerous topics, keeping it up to date with all the latest industry advancements. Topics discussed might be how they all do things differently to other firms, or what they do that their clients think is extraordinary. Gathering ideas in this way can help to collectively identify best practice, and therefore be of significant benefit to clients. The company is of the opinion that when it comes to financial planning there are two critical elements to consider. First, there’s the technical side, which is of great importance as it ensures clients of accurate and appropriate advice. Barns Financial provides education to its staff to encourage them to be technically strong, with the end goal being that all advisors either are, or are working towards being, Certified Financial Planners. The second, and probably most important element, is strong communication and empathy. As financial advisors are probably trusted with more private information than any other professions, it is vital that it can build trust over time. Reaching success in these two areas is the very foundation of being a great financial advisor, and is something the company is looking for whenever it recruits new staff. It knows it can teach the technical side, but it is the people side that is important when it comes to recruitment. It values recruits that are willing to learn, willing to listen and are just great all-round human beings. 2023 is an exciting time in the financial planning world. Whilst there are always hurdles to clear, Barns Financial Services is confident that the expected removal of certain administration regulations will mean it will be able to assist more people, and provide access to even greater advice. This, in turn, should lead to better outcomes for society as a whole. The team at Barns Financial are united in the satisfaction, both personally and professionally, that comes from seeing such goals achieved. As the recently announced winners of Best Financial Planning & Wealth Management Firm 2023 - Western Australia, in the Worldwide Finance Awards, Barns Financial Services is certainly riding high. Well done to it and its team on this fantastic achievement. Company: Barns Financial Services Web Address: www.barnsfinancial.com.au Contact Name: Nathan Barns Barns Financial Services is an independent financial planning and wealth management service. It is privately owned and licensed, and is pleased to be able to offer its valued clients honest advice and the some of the best products available on the market. P Barns Financial Services
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