As a new Financial Planner & the designated Values Based Financial Planner in the office, occasionally I do a Financial Road Map® with existing investment clients of the firm & one of the firm’s Partners, who has the relationship with the client, also sits in on the Financial Road Map® process. Any thoughts, comments or suggestions for me?

Article ID: 25

Last updated: 20 Nov, 2019

Just to be sure that they keep their mouth shut and don’t interfere with what you’re doing. Especially if they try to let the client off the hook when it comes to making commitments or paying the fees, which is the tendency of the veteran advisor in your office. Even worse, is the planner who tends to over-explain technical details or sell products or programs.

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The participants in happy relationships can sometimes have different ideas about the value of money, goals and how resources can/should be used to accomplish goals. How is this handled by the Bachrach & Associates process?

There are many forms that my clients must fill out. They are not something that can be done in the "let's take a few moments to make that happen" section. I need to prepare the paperwork and it takes more than a few moments. What I like to do is have the clients come back in to do the paperwork and go over any other information in the questionnaires I need. Then, after that, I will complete the plan and have the clients back in to go over that plan.

I completed a Financial Road Map® with this gentleman and his wife. He loved the experience and was very excited to go ahead and have us create an action plan. We requested additional information needed to complete the plan. I then received this email (see below). How would you respond? Thanks. Morning, Michele and I had the opportunity to sit down with an investment adviser yesterday and discovered that Optimal Performance is not only an investment company but also a financial planning firm. Embarrassing for me, as we have worked with Diane for over five years and she has helped us manage a myriad of financial challenges over that time. To realize that I have not fully taken advantage of her years of experience her expertise was "uncomfortable" to say the least. That said, Michele and I have decided not to continue moving forward with Ideal Life and re-engage Diane since we are already paying for that service. Additional, I am sure you can appreciate that we do not want to put our relationship with Diane in jeopardy especially after she has been a cornerstone for us. I have reviewed our chequing account and as of Friday, our cheque has not been processed and we would ask that it does not happen. We are prepared to pay a small fee for the work to date (including the Value-Based book) and will issue another cheque to cover that amount. I can have that available when I come to pick up our binder. As you witnessed, we were ready to make the move to see the plan and realize this a disappointing news however this is the right thing for us and aligns with the values we hold true.

I frequently work with wealthy widows. They are not part of a couple, nor are they looking to begin a relationship. Is there a version of the Financial Road Map® that has one Values Staircase™ or do you have any advice on how to effectively handle this situation the best way possible?

I begin to "quake" at the thought of live action with my first prospect meeting--How do you build your confidence and maintain it to make an effective presentation?

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