Network FP Thinktank

Network FP Thinktank is an Online Professional Journal by Network FP wherein we share the articles written by top-class financial advisors and industry thought leaders from across India and world.

3 Questions that make financial planning meaningful – Answer them now!

Sadique Neelgund
May 28, 2012

Last year at FPA Annual Conference in San Diego we were exposed to Financial Life Planning. We had organized for the Indian Delegation a Life Planning workshop by Lisa Kichenbauer, a Registered Life Planner (RLP) and Financial Planning practitioner. During the course of workshop… she gave us a simple assignment which Life Planners ask their clients to dig out the underlying values, deeper emotions and aspirations of their life.

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In future, the best firms won’t find new clients; the new clients will find them!

Michael Kitces
Head of Planning Strategy, Buckingham Wealth Partners
May 21, 2012

As the financial planning world continues its journey into the digital age, marketing and growing a financial planning practice faces new challenges. Some firms suffer as traditional methods no longer work the way they once did, while others struggle to implement new strategies like blogging and social media without any clear strategy or understanding of how to do it successfully. In this scenario how to capitalize on the world of the future where you don’t find the clients, but the clients find you.

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The seven stages of money maturity…At which stage are you & your clients?

Kiran Telang
May 17, 2012

George Kinder’s idea behind the book “Seven Stage of Money Maturity” is that people need to understand their relationship with money to be at peace. In his words ‘Money can be seen as the place where our internal selves engage the external world. If either side-internal or external, self or money is slighted, the whole life suffers’. The author has extensively used literature, Buddhism and the concept of Chakras in developing the seven stages of money maturity. So what exactly are these seven stages? And what stage do you and your clients fall in?

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3 Secrets Your Financial Planning Clients Will Never Tell You

Sadique Neelgund
May 13, 2012

Have you ever realized why your clients are not completely satisfied with you, and are always on a lookout for some other advisor who can bring their financial lives to order better than you? Well, the answer to this lies with your clients itself – in the secrets that they don’t reveal to you. And what are those secrets?

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3 stages of Growth of a Financial Planner

Nandish Desai
Partner-jagoinvestor.com
May 7, 2012

3 stages of Growth of a Financial Planner

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Chartered Accountants are not Financial Planners – Tell your clients/prospects

Sadique Neelgund
March 21, 2012

Many investors have the habit of approaching their Chartered Accountants (CA) for every financial decision including investments. But is a Chartered Accountant so efficient that he can advice on all investments and other personal finance matters? Or is it better to talk to a Certified Financial Planner (CFP)?

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Change the boring data gathering meeting into an enjoyable experience

Michael Kitces
Head of Planning Strategy, Buckingham Wealth Partners
March 13, 2012

Data Gathering Meeting certainly is not something that most clients would describe as a positive or enjoyable experience. So what would it take to re-formulate the entire data gathering interaction, to change it from a planner-centric process into a client-centric positive experience?

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Are Financial Planners in India shooting at each others feet?

Sadique Neelgund
March 12, 2012

Financial Plans are now being offered at as low as Rs. 2,500 by some and below Rs. 15,000 by many Financial Planners in India . In an attempt to overdo each other and get customers quickly, have we brought down our own earnings. In a sense, we have set the expectations for the average investor that the cost of a financial plan is inexpensive, if not cheap. But in this war, where are we headed?

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Running Your Financial Planning Practice Like a Business

Lisa Kirchenbauer
February 22, 2012

If you want to be a successful financial planner, you have to run successfully your financial planning business too. It’s not enough to be good at the work you deliver i.e. making plans & advising clients ; you have to know how to deliver it through a business, whether that business is just you or a team of 25 people. Just as you had to learn financial planning skills, for most of us, running a business requires some education and training.

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Does Financial Planning Software Improve or Destroy Productivity?

Michael Kitces
Head of Planning Strategy, Buckingham Wealth Partners
February 9, 2012

The financial planning planning process drags out, taking hours and hours to create a plan and many weeks to deliver the recommendations to clients. But when did the complexity of financial planning software begin to drive the planning process, instead of being a tool to expedite it? Has our financial planning software become the enemy that’s ruining our productivity, instead of improving it?… by Michael Kitces

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