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Pros and cons of the four types of financial planning models

Similar to how the financial planning needs of a client can vary, the way plans are created varies as well. There are four different types of financial planning models, each with its own set of advantages and disadvantages.

Nine ways to improve financial planning at your accounting practice

Whether you choose to get licensed yourself, hire a financial advisor, merge with another firm, or partner with an advisor to exchange referrals, here are nine ideas to improve the financial planning side of your accounting practice.

How do I start incorporating financial planning into my practice?

Leveraging financial planning in your practice can have a variety of positive benefits, including a unique value proposition, establishing a relationship with clients, cross-selling products, ensuring your advisors are acting in a fiduciary manner, and more; however, how do you go from a firm who historically has not engaged in these conversations to a new age, comprehensive planner?

4 areas to consider with the central planning model

There are plenty of reasons why a financial services firm wants to be both efficient and specialized, but the two can often work against each other. In response to these sacrifices that firms found themselves making, a common trend in the financial planning industry has been implementing central planning.

4 nontraditional reasons to use financial planning at your firm

Financial planning has been around for a lot longer than just the digital age, and there are a few nontraditional reasons why financial planning is beneficial to have in any advisory practice.

The importance of a first meeting plan

When talking to advisors, I consistently hear that when a client is first onboarding, there are multiple meetings between the initial meeting and when the first plan is delivered.

Three reasons Millennials demand personal financial management

Beyond the obvious benefits of delivering cutting edge service to improve customer engagement and increase cost efficiency, personal financial management technology allows advisors to actively attract Millennial and legacy clients.

Best reasons to plan downstream

You’ve likely heard of the Pareto principle before, which states that 80 percent of the effects are produced by 20 percent of the causes. In the advisory world, this is often true, where 20 percent of clients will result in 80 percent of a firm’s business.

Increasing conversion rates of high-net-worth prospects

When something seems complicated or overly difficult, most people tend to avoid that task — even with the more complicated questions HNW prospects will undoubtedly ask. Therefore, it is best to keep it simple

Articles by Patrick Meyer

Patrick Meyer

Account executive

Pros and cons of the four types of financial planning models

Nine ways to improve financial planning at your accounting practice

How do I start incorporating financial planning into my practice?

4 areas to consider with the central planning model

4 nontraditional reasons to use financial planning at your firm

The importance of a first meeting plan

Three reasons Millennials demand personal financial management

Best reasons to plan downstream

Increasing conversion rates of high-net-worth prospects

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