Should I let the client explain their financial documents? I find that it's often easier if the client explains their financial documents, since they know how to best interpret what they've brought.

Article ID: 481

Last updated: 20 Nov, 2019

NO! The All the Money Conversation™ exercise is a math exercise that should take no more than 10 minutes. Watch the Financial Road Map® video for the demonstration of how this should be done.

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After completing the Financial Road Map® Interview with friends to help me get more experience, they decided to get a financial plan done. I relayed the cost of completing the plan, but not the cost of an on-going relationship (as I was unsure that was the best time to have that discussion being fairly new to the process). I am meeting them Saturday morning to have a pre-planning meeting. What is the best practice for inviting them into my Ideal Client community at this point and discussing the annual fee (I am thinking $10K...this would be my first Ideal Client invite)?

What is the course of action if the Ideal Client agrees to move forward after the Commitment to Hire Conversation, but does not carry a check-book (very few people these days do)? Are documents accepted? Is the follow-up meeting planned? Work started? Etc.?

How do you determine what Planning Fee is appropriate for each client? I would imagine that different client circumstances require a different Planning Fee. You mention on tape from $2500-$3000. This seems high to me.

Does the Financial Road Map® differentiate between the resources used to fund Goals vs. those used to fund Lifestyle?

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