July 2021 Issue: Incorporating Education into your Financial Planning-Incorporating Education into your Financial Planning by Amy Irvine

Incorporating Education into your Financial Planning by Amy Irvine

Pdf Summary

The article discusses the importance of incorporating education into financial planning and the benefits it brings to clients. The author shares their personal experience of transitioning from financial planning to becoming a business teacher, but eventually combining both roles. The author emphasizes the need for education in the financial planning process, citing feedback from clients who express a desire for better financial education in schools. <br /><br />The author outlines their approach to incorporating education into financial planning, starting with a SWOT analysis (Strengths, Watch, Opportunities, and Threats) as part of the onboarding process. They explain financial terms and provide analysis and recommendations using screenshots to help clients understand the impact of their financial decisions. The author also mentions the availability of additional educational resources, such as a library of content, to further explain concepts and support clients in their financial journey. <br /><br />The article highlights the long onboarding process the author's firm follows, lasting for five months, to ensure that clients fully understand their financial situation and the best strategies for their needs. The author believes that their educational approach is the main reason existing clients refer them to friends and emphasizes the importance of working with clients who are interested in expanding their financial knowledge. <br /><br />The author concludes by stating that their educational approach has also been beneficial to their growing team, enabling them to train the next generation of financial planners. They express their enthusiasm for helping clients understand and engage with their finances, strengthening the client-advisor relationship.

Keywords

education

financial planning

clients

transitioning

SWOT analysis

financial terms

onboarding process

analysis

recommendations

referrals