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PLANNING WITH PURPOSE™

How can advisors make financial planning a core offering in their practice and how should they charge clients for the service?

Planning with Purpose™ is a 14 week virtual training program that helps advisors enhance their financial planning knowledge and confidence. The program provides a thoughtful mix of knowledge sessions, team discussions, and planning tutorials delivered by esteemed industry experts and successful financial advisors. It concludes with a capstone presentation where advisors present their approach, process and fee strategy for their virtual team. 

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Approved for 17 CE Credits through the CFP Board.

KEY FACTS

Client demand for financial planning is on the rise

73% of advisors currently use financial planning software and another 6% plan to start in 2022

Expense ratios are down significantly, yet financial planning fees have risen

1 in 3 advisors is rethinking their fee strategy

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PROGRAM RESULTS

Participants who completed the Planning with Purpose program:

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KEY DELIVERABLES

  • Financial Planning Checklists

  • Sample Client Agendas

  • Guide to Planning Conversations

  • Guide to Estate Planning Basics

  • Guide to Insurance Planning Conversations

  • Investment Policy Statement Templates

  • Guide to Financial Planning Fees

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ROADMAP

PLANNING WITH PURPOSE    SESSIONS

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SESSION 1

The Art & Science of Giving Advice

This session explores the most effective ways to position the financial planning process to prospects to educate them on what to expect from their financial planning journey. We review best practices for discovery, data gathering, and managing self-limiting client behavior that acts as an impediment to implementation. 

Instructors:

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Christine Gaze, CFP®, CIMA®

Managing Partner, Purpose Consulting Group

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Heather Locus, CFP®, CPA, CDFA®

Wealth Manager, BDF LLC

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Length: 90 minutes

Learning Objectives:

  • Review the financial planning process and best practices for client engagement throughout

  • Learn effective ways for positioning and explaining the financial planning process to prospects

  • Understand how a client views different components of a sample plan 

  • Gain tactics for engaging in successful discovery and data gathering

  • Receive guidance on having difficult conversations when clients are not on the same page

  • Learn how to improve the probability that clients will implement key planning recommendations

SESSION 2

Answering the Biggest Question -

Will I Be Okay?

This session demonstrates how an advisor can use financial planning to answer critical client question and establish themselves as a key player in their clients’ financial lives. We share best practices for planning conversations including using cash flow, education planning, retirement scenarios, and health care.

Instructors:

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Christine Gaze, CFP®, CIMA®

Managing Partner, Purpose Consulting Group

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Lauris Lambergs, CIMA®

Founder and CIO, RW Advisors 

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Length: 90 minutes

Learning Objectives:

  • Understand how a financial planning-centric business model positions the advisor as the natural center of the client’s financial life and allows for  better client outcomes.

  • Examine case studies using cash flow planning to help clients stop making sub-optimal decisions.

  • Learn approaches for having difficult conversations with clients regarding retirement and education planning.

  • Understand how retirement planning looks at different stages of a client’s life and the planning implications for clients.

  • Review how balance sheet shocks and repotting can affect clients’ financial plans and gain strategies to address.

SESSION 3

Investment Management - 

How Do I Fund My Goals?

This session provides an overview of the current investment management landscape and discusses the major trends that affect portfolio management. Advisors will learn how a decision-making framework can bring consistency and practicality to the investment management process and help advisors communicate in a way that resonates with the clients. 

Instructors:

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Christine Gaze, CFP®, CIMA®

Managing Partner, Purpose Consulting Group

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Devin Ekberg, CFA®, CIMA®, CPWA®, RMA®

Senior Consultant, Advisor Education, PIMCO

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Length: 90 minutes

Learning Objectives:

  • Explain the current investment management landscape

  • Use an Investor Policy Statement to guide the client consultation process. 

  • Differentiate between a range of asset allocation approaches and their risks and benefits. 

  • Develop a decision-making framework that interconnects the clients’ exposure to risk, techniques to manage risk, and goals-based portfolios. 

  • Educate clients and prospects on key investment terms and market history in a way they value.

  • Communicate the value of the advisor relationship in a way that resonates with clients and keeps them focused on long-term results. 

SESSION 4

What Happens to My Family When I'm Gone?

This session covers the fundamentals of estate planning including the various roles to be identified and the key tools necessary to effectuate a comprehensive estate plan. We review the critical role that advisors play in the estate planning process and best practices for coordinating with estate planning attorneys.

Instructors:

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Christine Gaze, CFP®, CIMA®

Managing Partner, Purpose Consulting Group

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David R. York, Esq., CPA

Managing Partner, York Howell & Guymon

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Length: 90 minutes

Learning Objectives:

  • Understand the important role of the financial advisor in the estate planning process 

  • Review the key issues facing clients that estate planning attempts to address

  • Learn about the essential estate planning tools, including powers of attorney, living wills, last wills and testaments, and revocable living trusts

  • Receive an overview of the roles and selection criterion for various fiduciaries

  • Learn best practices to establish productive, collaborative relationships with estate planning professionals

  • Understand strategies for special situations, including blended families, disabled children, retirement plan assets, and tangible personal property

SESSION 5

How Can I Protect My Family?

This session educates advisors on the insurance planning trends and strategies that will serve clients at various ages and lifecycle stages. Advisors learn how to identify client risks and incorporate insurance planning conversations into their financial planning process. 

Instructors:

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Christine Gaze, CFP®, CIMA®

Managing Partner, Purpose Consulting Group

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Featured Speaker

Industry Expert

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Length: 90 minutes

Learning Objectives:

  • Learn about current trends in the insurance marketplace.

  • Identify the client knowledge gap as it relates to risk management.

  • Understand the advisor’s critical role in having the insurance planning conversations, identifying risks, and guiding clients to appropriate solutions.

  • Gain the confidence to ask meaningful questions during client planning meetings that will uncover protection related needs.

  • Learn about financial planning conversations and strategies for policy reviews, pension maximization, and business planning.

  • Better understand the insurance process, from quoting, illustration and submission to issue and placement.

SESSION 6

Guide to Financial Planning Fees

This session provides a detailed look at financial planning trends and the prevailing financial planning fee models. Advisors learn about planning philosophies and fee strategies directly from successful advisors to help them choose the approach that best suits their practice. 

Instructors:

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Christine Gaze, CFP®, CIMA®

Managing Partner, Purpose Consulting Group

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Michelle Arpin Begina, CIMA®, CFP®

Managing Partner, Senior Wealth Advisor – Snowden Lane Partners

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Length: 90 minutes

Learning Objectives:

  • Understand the changing industry landscape and trends for financial planning fees

  • Consider the pros and cons for the prevailing financial planning fee models (AUM Offset, Flat Fee, Hourly Fee, Subscription and Hybrid).

  • Review the level and depth of financial planning possibilities and consider their impact on time and price

  • Learn about the financial planning philosophies and fee models of highly-successful advisors

  • Hear how successful advisors articulate their “value for fees” to clients

  • Gain insights on the best financial planning fee model for their practice

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Capstone Presentation

The Planning with Purpose™ Program culminates with a Capstone Presentation.  Program participants are asked to prepare and deliver a brief presentation where they describe their approach to financial planning, outline their process, and detail their fee strategy. 

Participants receive the following support and guidance:

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•    Live Capstone Prep Class 
•    The Purpose Consulting Group Guide to Financial Planning Fees
•    A written assessment and a video of their performance

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What Planning with Purpose™ Program Participants Say

“The program created a track to run on with tools from industry experts that helped tighten my process. This has led to more confidence which has provided clients with a much better experience.”

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