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Wikipedia as a demonstration of the Internet’s power to make knowledge available to anyone who seeks it. With over 3 million English articles, translations in dozens or hundreds of languages and thousands of contributors, it is the number six site for overall access on the worldwide web today.
The concept of www.Planipedia.org is simple. It is a community-based (unrestricted access), not-for-profit, open knowledge-base dedicated to financial planning principles. The fundamental concept that underlies “financial planning principles” is that the client’s interests must be placed first and foremost at all times – that advisors have a fiduciary responsibility to ensure that the client’s interests are always placed first.
There are a variety of professional designations, associations, academic groups, regulatory bodies, professional firms and practitioners that are all working to increase the level of professionalism and consequently make available honest and competent advice for the consumer It must be clear that Planipedia is a true community based system is not restricted to any single country or designation. It is designed to be a platform for sharing knowledge, concepts and ideas for the betterment of the advisory community and consumers worldwide.
This is not about selling products, it is not about making advisors lots of money – this is about ensuring that the client’s interests are protected and that advice that is delivered is done so on an objective basis. That notwithstanding, we firmly believe and research has supported the fact that professional financial planners can indeed make more money as befits a professional – not a salesperson. We feel one way to accomplish this focus on professionalism is to have a global portal where financial advisors can share knowledge on how to do a better and more efficient job for their clients. As an example, content for a comprehensive Best Practices manual is underway which can be tailored for any country.