![Not All Clients Need Financial Planning [190]](https://is4-ssl.mzstatic.com/image/thumb/Podcasts122/v4/72/09/88/72098846-dff3-3286-cc36-5dedd097e595/mza_5278399541520002543.png/250x250bb.jpg)
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Carl Richards and Reese Harper talk about the opportunity advisors have to simplify their services and concentrate on the core value of human interaction.
They discuss how the traditional comprehensive financial planning model may not meet the needs of most people and how reimagining the delivery of financial advice can help advisors reach a broader market and make a greater impact. If you're interested in learning how to serve more clients by honing in on what truly matters, this episode is a must-listen.
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In this episode Jordan explores whether every client truly needs a full-fledged financial plan or if advisors are simply wielding a hammer that makes every problem look like a nail.
He shares insights into how he identified Elements’ core value proposition from interviews with top advisors who identified the Elements Scorecard as their most valuable tool. Advisors should ask themselves and their clients two critical questions: What is the most valuable thing you do, and why is it valuable?
Tune in to discover how focusing on what clients genuinely need can transform your practice and client relationships.
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Saknas det avsnitt?
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Jordan Haines and Abby Morton dive into the emerging field of financial coaching as a standalone service. Abby shares a compelling story of how a simple one-hour coaching session transformed her friend's financial outlook without the need for ongoing planning or comprehensive wealth management.
Together, they explore the differences between financial coaching and traditional financial advising, discussing how coaching focuses on immediate client needs like cash flow management, debt reduction, and financial health, without delving into investments or insurance.
They address the industry's need to define financial coaching clearly and consider how it can be integrated into existing practices or offered as a separate service. If you're a financial advisor looking to expand your services, reach a broader audience, and provide value in new ways, this episode offers valuable insights into the potential of financial coaching.
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Jordan discusses why adding too many "value-adds" to your financial advisory services might actually be hurting your clients and your business.
Drawing from his experience working at a hot dog shop famous for its special sauce and simple menu, Jordan illustrates the power of a focused core value proposition. During this episode you’ll learn:
The importance of identifying what truly makes your services unique
Why your clients need to understand that value
How to reliably and consistently deliver that value.
Before you jump into offering additional features or services, Jordan challenges you to consider whether these value-adds support or distract from your core offering. Tune in to learn how simplifying your services can enhance client satisfaction and make your business more referable.
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Jordan Haines shares his experiences from the recent XYPN Live conference, where he joined Reese Harper and Carl Richards to lead a four-hour session on accelerating the pace of financial advice. Jordan reflects on how the traditional financial planning process—often taking up to 10 hours per client—may not meet the needs of modern consumers seeking quicker, more accessible advice. He explores innovative ways advisors can expand their services beyond the conventional model, such as offering simplified coaching programs or financial wellness initiatives for employers. Jordan invites listeners to think differently about serving clients and to share their ideas on delivering valuable advice more efficiently. Tune in to discover how you can help more people by reimagining your approach to financial planning.
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What if you could cut your client meeting prep time in half and double the number of people you serve without feeling overwhelmed? In this episode of Elementality, Jordan Haynes shares a transformative conversation between Reese Harper and Carl Richards. They dive into the costly and time-consuming nature of traditional financial planning and unveil how Elements simplifies data gathering and analysis. Learn how to deliver personalized advice efficiently, scale your impact, and make financial planning accessible to more people. If you're ready to give advice really fast and revolutionize your practice, this episode is a must-listen!
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In this episode of Elementality, Jordan Haines, financial vitals expert at Elements, dives into his favorite part of the financial planning process—data gathering! Discover how simplifying your data collection and focusing on what's "good enough" can supercharge your 30-minute consultations with clients and prospects. Jordan shares practical tips to make the data-gathering process less intimidating for clients, so you can both get the most out of every high-impact meeting. Tune in to learn how a streamlined approach can transform your client interactions and make financial planning feel effortless.
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Host of Elementality, Jordan Haines, CFP®, discusses the difference between foundational finance and fancy finance, emphasizing the importance of having financial conversations at scale. He introduces the 'Four Foundations of Finance': saving enough, spending with clarity, managing debt wisely, and maintaining enough liquidity. Using personal anecdotes and practical advice, Jordan explains how focusing on these core principles can help financial advisors provide valuable service to the majority of their clients. Tune in to learn how to effectively engage clients and ensure their financial well-being through foundational financial principles.
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Host of Elementality, Jordan Haines, CFP® continues his thoughts on the 30-minute financial consultation. Building on last week's discussion, Jordan outlines the three essential phases of the consultation: uncovering client information, orienting clients to their financial situation, and providing a clear direction for improvement. He explores the application of this template through synchronous interactions, such as prospecting and client check-ins, and asynchronous interactions like email and video assessments. Learn practical strategies to deliver significant value in a short timeframe and discover ways to scale these financial conversations effectively.
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Host of Elementality, Jordan Haines, CFP® outlines a three-phase approach to structure the perfect 30-min consultation. He emphasizes important preparatory steps, such as understanding qualitative, quantitative, and contextual information about clients. Jordan also parallels effective financial consultations with best practices from the medical field, underscoring the importance of validated information and mutual understanding. The episode concludes with practical advice on being directional rather than prescriptive, ensuring that clients leave with actionable steps.
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In this episode of Elementality, Abby Morton sits down with Katie Braden, a video marketing expert for financial advisors, to discuss the transformative power of video marketing in the financial industry. Katie shares her unique journey from photography to financial planning and how she now helps advisors leverage video to connect with clients and grow their businesses. This episode dives into practical tips on getting started with video, overcoming the fear of being on camera, and using AI tools to enhance marketing efforts. Tune in to learn how video can set you apart in a crowded market and help you build genuine connections with your target audience.
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Host of Elementality, Jordan Haines, CFP®, reveals 6 secrets to create amazing client deliverables, and how the best deliverables can be used to prospect new clients. Ranging from making data gathering easier for clients to enabling more “A-HA!” moments, killer client deliverables can be a game changer in your business.
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In this episode hosts Jordan Hanes and Reese Harper discuss the core mission behind Elements and the inspiration for creating the technology that powers it.
They explore four significant problems affecting a majority of Americans, including the growing liquidity crisis, the pervasive fear and anxiety surrounding money, the lack of wealth-building models for people in their accumulation years, and the inadequacy of current financial technology. The conversation highlights the importance of building liquidity, overcoming fear-driven financial decisions, providing tailored advice early in one's career, and leveraging client-centric technology.
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Host of Elementality, Jordan Haines, CFP®, uncovers the financial topics that actually matter to the next generation of wealth builders. Calling these the “foundations of finance” he explores the diet and exercise equivalent of personal finance.
These topics include:
Save enough
Spend with clarity
Manage debt wisely
Maintain adequate liquidity
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Hosts Jordan Haines and Reese Harper discuss insights from their recent webinar, examining how comparing oneself to peers can drive financial behavior change. Learn about the limitations of probability of success metrics and explore effective strategies for motivating clients by using comparative data. This episode offers valuable perspectives for financial advisors aiming to enhance client engagement and support better financial outcomes.
01:28 Probability of Success vs. Social Comparison
04:28 The Role of Social Comparison in Financial Advice
10:21 Using Data to Motivate Behavioral Change
13:58 Challenges and Solutions for Younger Generations
19:23 Concluding Thoughts and Next Steps
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Host of Elementality, Jordan Haines, CFP®, explores the natural human tendency to compare ourselves to other people and how advisors can lean into that tendency to produce positive outcomes for their clients. He identifies things an advisor can focus on to help clients compare themselves to something that is productive and will produce positive results.
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Host of Elementality, Jordan Haines, CFP®, is joined by Adam Frederico, a personal finance outsider and EOS Implementer. Adam runs and operates a landscaping business and has become an expert in all things EOS (Entrepreneur Operating System).
During this discussion Jordan and Adam talk about how financial advisors can get their business out of their head and implement a system to turbocharge their business. They also discuss how advisors could use EOS as a tool to help their clients get things done.
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Host of Elementality, Jordan Haines, CFP®, outlines how financial advisors often miss the opportunity to articulate real value to people by just focusing on the future benefits of financial planning. Benefits liek increased net worth, higher probability of success, and future peace of mind are often hard for people to internalize.
Instead, financial advisors should focus on how financial planning and advice will benefit people today. This leads to increased client satisfaction and success.
Brett Maikowski, CFP® LinkedIn Post
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Host of Elementality, Jordan Haines, CFP®, invites Ashley Quamme, founder and Fractional Financial Behavior Officer at Beyond The Plan, to talk about the most important emotional jobs that advisors need to be aware of when serving clients.
In a world where personal finances and emotions are so intertwined, Jordan and Ashley explore some important considerations including:
Making sure your curious enough to identify when an emotional thread may need to be pulled.
Why advisor may not need to be the person that navigates the emotional side of money, but why advisors should have someone available to navigate that job
And the importance of advisors doing their own work with a behavioral specialist so they can be aware of their own emotional reactions to money
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Host of Elementality, Jordan Haines, CFP®, discusses the importance of being curious with clients even in the most functional of interactions. It’s often while discussing financial data, presenting the financial plan, or even just chatting with a client that an emotional response will be triggered. But if you’re not looking for it, you may miss an opportunity to change a client’s life.
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