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The Supernova client promise includes a commitment to a regularly updated financial plan.  If you have not been running a planning based practice, it may take 6 to 12 months to put a plan together for those core clients you choose to have as part of your practice.  This article outlines a simple process for getting started as well as a link to a download that will help you gather the information you need to update or create plans for your clients.

Start by taking  a look at your core client list and place your clients into one of four groups:

1.  Clients with an up to date financial plan. 

• Make sure that any action items are being addressed.
• Make sure that you continue to revisit the plan on at least a semi-annual basis during your 12/4/2 reviews.
• Make the plan a regular agenda item on their working agenda in the 5th divider in your blue client folder.
• When you are consistently reviewing and updating your clients’ plans, it gives you another great differentiating question to ask of prospects – “How often is your plan revisited and updated?”

2.  Clients with a financial plan that has not been revisited within the last quarter.

• Review the plan at your next quarterly review meeting.
• The conversation could start along the lines of:  “Mrs. Jones, in October of 2012 we completed a financial plan for you.  I was reviewing the plan and there are a couple of issues that I want to update.”

3.  Clients to whom you have suggested a financial plan, but they have declined.

• Here’s a conversation starter:  “Mrs. Jones, we have discussed completing a financial plan in the past, but you have declined.  Along with monthly communication and rapid response service, a regularly updated plan is an essential element of the my client service promise.  I still feel it is important and would like you to reconsider.  We can get this process started with a short questionnaire.”

4.  Clients who have no plan and you have not had a conversation with them regarding financial planning.

• Again, a conversation starter:  “Mrs. Jones, I recommend that each of my clients complete a financial plan.  It will allow you to see where you stand and the probability of hitting your financial goals.  It is part of my ongoing service commitment to you.  We have a way of getting that process started with just a short questionnaire.

With this breakdown of your clients in place, you can download the Supernova Planning Matrix through the downloads tab at the top of this page.  This tool will help you with your next steps.  Before you know it, 100 percent of your clients will have plans in place.

Download the planning matrix and see which categories your clients fit into.

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