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 the world.
3 stages of Growth of a Financial Planner
Nandish Desai
Partner-jagoinvestor.com
May 7, 2012
Reading Time: 2 minutes 3 stages of Growth of a Financial Planner
Read MoreChartered Accountants are not Financial Planners – Tell your clients/prospects
Sadique Neelgund
March 21, 2012
Reading Time: 4 minutes 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)?
Read MoreChange the boring data gathering meeting into an enjoyable experience
Michael Kitces
Head of Planning Strategy, Buckingham Wealth Partners
March 13, 2012
Reading Time: 7 minutes 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?
Read MoreAre Financial Planners in India shooting at each others feet?
Sadique Neelgund
March 12, 2012
Reading Time: 3 minutes 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?
Read MoreRunning Your Financial Planning Practice Like a Business
Lisa Kirchenbauer
February 22, 2012
Reading Time: 5 minutes 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.
Read MoreDoes Financial Planning Software Improve or Destroy Productivity?
Michael Kitces
Head of Planning Strategy, Buckingham Wealth Partners
February 9, 2012
Reading Time: 5 minutes 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
Read MoreUse this free tool for sending great email newsletters to your clients
Sadique Neelgund
January 20, 2012
Reading Time: 2 minutes Network FP has been using Mailchimp application for sending out emails to its members. We think Mailchimp is one of the best emailing solutions available on internet. The beauty of Mailchimp is – its very easy to use, has great designs, powerful report generation and fantastic delivery record. And of course it’s is free!
We would encourage Financial Planners to use such a mailing solution to send professional looking newsletters & updates to their clients/prospects on a regular basis. (Instead of plain old mailing with bcc and cc). Check out some details and resources on how to use Mailchimp effectively.
Tech tools to increase your efficiency in advisory process
Sadique Neelgund
January 19, 2012
Reading Time: 4 minutes In the financial service world, there are numerous examples of gadgets that may be used by financial advisors. From desktop tools to software to peripheral equipment, there are a variety of such items from which advisors can choose. The challenge is finding those tools that can actually improve the efficiency of the financial advisor instead of creating an unnecessary distraction.
Read MoreOne-Page Business Plan of a Fee-only Financial Planner in US
Sadique Neelgund
January 17, 2012
Reading Time: 3 minutes Here is a One Page Business Plan of a Fee-only Financial Planner – Mr. Jim Freeman, Founder, Financial Alternatives based in San Diego, USA. It is good if a Financial Planner/firm develops a crisp and clear business plan which will guide him/her towards establishing a successful practice or take it to the next level. Take a look and get inspired!
Read MoreWhat is the proof that you have given “The Right Advice”?
Sadique Neelgund
January 16, 2012
Reading Time: 3 minutes Financial Planners should serve their clients while protecting themselves. This can be done by rigorously seeking to develop & apply five proofs to their client advisory process. What is clear from both recent regulatory reforms and best practice discussions is that the client’s informed consent to the risk in their financial plan is of critical importance. Many financial advising practices fail to help investors appropriately understand financial risk. In essence they do not meaningfully establish investors’ investment expectations…
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