The Process of Planning > The Plan

Julian B. Morris, CFP®, ChFC®, AAMS®, CRPC®, CFS® | May 17, 2021

A one time financial plan is a quick fix 🔧. My experience is that people want this to “say I have a plan!”

The truth is that Plan is worthless 📉 the second ⏲ you walk out the door 🚪.

Why⁉️
📄 It was built on guesses 🤔 and assumptions.
📄 The plan sits on a table or bookshelf and you don’t 🚫 implement recommendations
📄 What if after the plan you decide to retire 🏖earlier❔
📄 Have another child 🐣❔
📄 Get sick 🤒❔
🛑 Then you have to redo your plan. But you probably won’t.

The ONGOING PROCESS of Planning reinforces:
🔁 Progress 🌱➡️🌳
🔁 Adaptability 🦎
🔁 Embraces change 🐛➡️🦋
🔁 Deepens relationship between advisor & client 🪢
🔁 Helps hold clients accountable 🧮 as meetings happen regularly 📆

💎💎💎 THE VALUE IS IN THE PROCESS OF PLANNING NOT THE PLAN ITSELF 💎💎💎

⁉️If a one time plan or an ongoing relationship cost the same, which would you choose⁉️

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#mangement#personaldevelopment