planning principles
Most firms view financial planning as a mechanical process, followed by a printed product. Client data is plugged into a software system and a 40-page colorful document comes out the other end.
It's impressive looking - but we still have to recognize that it’s just a map, and the landscape is always changing.
It's better to be a personal guide than a printed map.
we focus on actions rather than projections
The economy is complex and adaptive, so are the lives of the families we serve.
Planning means let’s uncover everything we know at the current moment, and decide the next best steps.
This approach is important for a couple reasons. First, we put all the focus on the next micro actions, this is measurable.
Secondly, what we desire in the future changes along the journey, as the journey itself changes us.
The true value isn't in the Plan Itself, but rather the ongoing planning process.
Act, then measure, then act again.
This process is fluid and adaptive, it brings together all the pieces and it grows with the client.
Each time we interact with a family, we get the chance to reflect on how things might have changed.
What micro actions can we take right now to improve the outlook?
Following this ongoing process gives us a much better probability of hitting a long-term target.
When we meet with clients, instead of reprinting some Plan that will only be outdated a month later: We assess the current state of things, reevaluate the mission, then present a list of Action Items as next steps.
Repeat.
Remember, there won't always be an immediate next step, there's value in the act of validating that things are in good order. Set a date to regroup and reassess.
