Vision Systems Corp.

A challenge that every adviser faces is simplifying plan output—the financial forecast—so that clients are clear about their core issues. Only when they have this context can clients understand the actions they need to take and why these actions are important.

All plans exhibit one of five main themes. Once you understand these themes, you’ll be able to examine each client’s financial forecast and immediately identify which one applies. When you identify the theme, you’ll bring focus to the planning process.

Here’s a simple guide to help you familiarize yourself with the main concept for each theme. Save this for your next client!

Did you know that adults learn best through experience?

When you create plans collaboratively with clients, they will ensure that plans suit their personal preferences—their values and financial attitudes,

Also, planning tactics can be based on changes that are within clients' direct control, which fosters belief in plan output and increases their confidence in the plan.

When you create plans with clients, you assume the role of guide. When clients feel that they're creating their plan for themselves, there's greater plan buy-in and implementation follows effortlessly.

Involve your clients! Personalized plans are the way!

The following is a summary of the second two disadvantages of creating plans for clients.

3. Plans created for clients must focus on financial-planning tactics. They are your areas of expertise. But financial-planning tactics are outside of clients’ direct control. When achieving life "wants" is based on uncontrollable tactics, clients’ confidence in their plan is undermined.

4. When clients see their financial forecast, they glimpse their financial future for the first time. With this new perspective, they often ask for lifestyle revisions. This meet-and-revise cycle takes up a lot of your valuable time.