Laying the Foundation: How to Structure Your Financial Planning Process
Is the discovery call an ear or a phone?
You decide. 🤔 or maybe it’s both?
Structuring Your Financial Planning Process for Optimal Results
Financial planning can vary greatly from person to person or company to company. Regardless of your approach, it’s crucial to define the primary steps and start with a high-level workflow. This is the first course of action in outlining your process. To get started, consider the following:
What does your ideal process entail?
What is the timing for each step?
What outcome do you want to achieve?
What tasks are involved in each step?
Who is responsible for each task?
What resources can you develop to support your process and team?
The labels you give your steps are less important than the information you gather at each one. Streamline your financial planning process by using a CRM or operating system to ensure that no steps or time are missed. Being organized sets clear expectations for prospects and expedites the process of determining if you're a good fit for each other.
Benefits Of Implementing A Well-structured Financial Planning Process
As you consider implementing a well-structured financial planning process, you must recognize the benefits it can bring to your clients and your team. Onboarding a new team member becomes more streamlined as linking templates, resources, questions, and other documents for reference gives them a broader understanding of how you communicate, the types of questions you ask, and your ideal relationship. Standardizing communication with clients and prospects through well-documented processes also helps reinforce your brand. By avoiding the need to reinvent the wheel every time you start a new project, you can save time and help develop your team's skills by guiding them through a well-thought-out planning process.
The Importance of Communicating Your Process to Prospects
When outlining your process for potential clients, how you present it is just as crucial as the process itself. Have you ever visited a website where the process wasn't clearly defined, or the explanation was so lengthy that your eyes glazed over? To avoid this, consider a custom graphic that conveys your process and reflects your brand. Let's collaborate on an exciting visual project that captures your brand's essence.
Alternatively, if you're seeking a more detailed approach, I can help customize your CRM workflow with a flow chart like the one below. Just let me know what you need!
