The typical client meetings conducted as a part of the financial planning process are challenging. It starts with data gathering, but clients can’t easily produce the needed data to analyze the situation. Clients are asked about their goals, but often articulate ones that will just result in a plan that “fails”. And the whole process culminates in a physical printed plan output that most advisors agree is rarely read by clients anyway.
Even worse, from the client’s perspective – since they don’t see much of the behind-the-scenes work that happens – financial planning is little more than providing data to the advisor, and getting printed planning software output in response. As though a financial advisor does little more than software data entry!
So in a world where the goal is to get clients to actually value each meeting of the financial planning process – rather than simply having it be a data-gathering-for-software-output experience – how could each meeting in the financial planning process be reimagined to be more relevant, more collaborative, more interactive, and more immediately and tangibly valuable?