Who Is An IFW Member by Harjeet Heer

Hi, my name is Harj. I am one of the IFW executive, and I head up the research stream.

We’d like your help.

Last year, we asked IFW members to complete a survey.

So far, over 60 of you have done so. We do, however need more.

To give you an idea of how we are using the information from this survey, I thought I would share with you a few early findings.

The IFW Community

Mark Pittaccio has been conducting a broad survey of over 700 advisors. By taking these questions and asking them specifically of IFW members, we hope to be able to draw some conclusions as to the unique characteristics of a member of the IFW.

The more responses we get, the more apparent, and reliable, will be the trends that emerge.

You Are Open-minded

One early conclusion is that an IFW member is someone who is more open to new experiences.

Now, we might argue that that is self-evident. In many ways the IFW is a new experience, and therefore someone who joins will need to be open-minded.

It is important, however, to voice this common factor. We are trying to build a community of like-minded people, eager to learn and improve how they advise clients, and who believe that advice should be about helping clients to be happier, not just wealthier.

Given that this is not the default position for most advisory firms, joining the IFW represents a willingness and openness to change and improve.

Furthermore, we are doing this within the context of a not-for-profit organisation. We are trying to build a community.

The data therefore seems to reflect that IFW members are, indeed, an open minded bunch.

Other Metrics

The data also provides information on areas such as advisors’ emotional stability, and agreeableness. In order to draw significant conclusions from these areas, however, we do need more people to complete the survey.

Even where a clear pattern does not emerge, taking this data sample now enables us to sample again at points in the future, and thereby measure the change over time of what being an IFW member means.

The survey takes about 15 minutes to complete, and can be accessed through this link. Please do complete it, and share it with your colleagues, the more responses we get, the more conclusions we can reach.