All About Innovation Archieven - Smart Financial Planner

8 Could it Be That Meaning is The New Money For Financial Planners?

Here’s a short story that seems to have nothing to do with financial planning (but it does).

Imagine Bob Lutz.

Bob Lutz?

He’s the former CEO of General Motors.

Bob is not the artsy-fartsy kind of guy. He looks and acts like a marine, which he once was. He smokes cigars. He flies his plane. He once said that global warming was a myth, peddled by the environmental movement.

But when the New York Times asked him about how his approach would differ from his predecessors at the time he started as a CEO at GM, here’s how he responded:

97 How to Quit Your Job, Take the Leap and Get Paid to Do Financial Planning that Matters

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After all, that’s the dream, right?

We want to quit our jobs, spend more time with our families, and finally have time to do the “real” work. We want our financial planning to help people, to inspire them, to change them from the inside out.

It’s a modest dream, a dream that deserves to come true, and yet a part of you might be wondering …

Will it?

4 Why Even Abundant Knowledge Most Likely Won’t Be Enough For Financial Planners to Thrive in The New Age (And What To Do About It)

It has become obvious, in retrospect, that organisations with superb knowledge economy credentials – companies such as Microsoft, General Motors and big Wealth Management Companies, for example –weathered the global economic crisis little better than companies based on the industrial age economics they superseded.

10 What Every Financial Planner Ought To Know About Adding Value Even When (Potential) Clients Rather Do It Themselves

Most financial planners sell advice. Because people are willing to pay for it. It’s as simple as that.

This system worked in the old world. Because there was no alternative.

Fortunately, we now live in the age of DIY.

Do It Yourself.

Fortunately, because now, people have the (free) online tools to create their own, new financial planning experience. Which ignites innovation in our profession.

Is this a threat for your financial planning business? Yes, it can be.

Yet, there is an alternative.

27 What Financial Planners Can Do To Make Their Table Bigger and It’s Not About More AUM, More Products, More Commissions or More Market Share

When you enter a poker room usually there are many different choices of tables that you can sit down at. Each table has different stakes, different players and different dynamics that change as the players come and go, and as players get excited, upset or tired.

In poker, people spend a lot of time learning the best strategy to play once you’re sitting down at a table. It’s like the financial planning business. Financial plannners spend a lot of time to get better when they’re in the business.

They think the game starts when they are at the job.

They think the game starts when sitting at the poker-table.

But does it?

3 Financial Planning Is Heading Towards It’s Spotify Moment

What if financial planning could be done fully digital? No planner needed.

Is this the scenario we are heading towards?

13 3 Types of Financial Planners – Which Group Are You In?

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There are three types of financial planning businesses.

All three have its own style, it’s own structures and measurements and it’s own strategies.

The question is: are you in the type of financial planning business you really want to be in?

8 Why Every Financial Planner Ought to Serve These Almost Unknown Niche Markets

Why consider to serve another niche?

There are a million and one financial planners, advisors, wealth managers or online solutions on the market. The market is so saturated, so why bother launching yet another one?

Before answering this question, let’s go back in time. Where we lived in a world with limited choices and big companies could afford to cast the net wide across the masses. No depth required.

Do you think this tactic works now that the masses have the power to choose? Where people have the choice to visit your competitor with two swipes? The market of everyone has disappeared and that’s scary for big companies.

0 Why Freedom of Information Drives 3 Critical Changes and Empowers a Financial Planner to Thrive

Let me tell you a short story before we go in depth. It’s about the new reality of a car salesman. Traditionally, many car dealerships are based on a simple idea: they know more about cars and pricing and profit than the customer does. By leveraging the information advantage, they can sell cars at a higher markup, upsell add ons, etc.

But what happens when the customers know more then they do, when potential customers know about every option, the inventory at every dealer, etc?

This is going to happen to every business, every sector, every level. Also to our financial planning business. When information is set free, does it help you or hurt you?

If it is not helping you, now is the time to act. Continue reading

4 Welcome Julia

We are very proud, happy and overwhelmed with emotions with the birth of our beautiful and healthy daughter and sister Julia. Julia was born this Wednesday the 26th of June. Please take a look at the picture below. We love your comments. Thank you.

With love,

Ronald & Denny, Frenk, Sanne & Julia Sier

Look at our beautiful daughter Julia

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