The Cash Flow Clock: For Retirees - Book - Page 87
The Cash Flow Clock
The Four Pillars of Financial Services
There are four main sections, or Pillars, within the
financial services industry– Banks, Securities,
Insurance, and Real Estate. Each has different
products, different regulations, different philosophies,
different licensing, and different methods of
marketing to and servicing clients.
Financial planning should consider aspects of each
Pillar: banking instruments (checking, savings, CDs,
etc.), securities (stocks, bonds, mutual funds, ETFs,
etc.), insurance investments (annuities and cash value
life insurance), and real estate (primary residence and
income/investment properties).
Bankers recommend banking products to fit all your
financial needs. Investment advisors believe
securities are the only way to go. Insurance agents
are convinced that insurance products are the best
option for every situation. Realtors are all about real
estate.
Not only do each of these professionals tout their
own products (understandably), but they also criticize
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