Implementing and Monitoring the Financial Plan - Communicating the Results

Learning Objectives

• To define communication, oral and written communication skills, and how they apply to the last three steps of the financial planning engagement
• To analyze if we have all of the information we requested and that we now fully understand the client’s needs, goals, and objectives
• To explore how planners develop and present financial planning recommendations and/ or alternatives and encourage clients to remain active no matter their communication style
• To discuss the role of other collaborating members of the financial planning team and be an assertive leader of the team
• To explore the use of oral communication techniques to review with the client their short-term, intermediate, and long-term goals                          
• To demonstrate to the client how we fully understand their objectives and goals and encourage the client to ask questions
• To discuss the most relevant issues and advice to include in the written plan in a clear, precise manner.
• To explain how ongoing communication efforts, keep the clients engaged in the process after the written product is delivered so that the planner can monitor the plan on a systematic periodic basis.
• To discuss the format of the written plan- what to include, what to exclude, and what to do to make it pleasing and interesting for the client and other advisors to read.

Course Description

This CPE course will review the importance of good communication skills during the last three steps of the financial planning process. 

We will look at effective ways financial planners can utilize oral and written communication strategies to present their analysis and results of their work to the client and prepare documents that are clear and specific to the engagement.

Effectively communicating with customers is essential to the success of any business. Adapting to the different communication styles and emotions of customers will help you build customer relationships through better customer conversations. Improving conversations with customers enables efficient, high-quality client service.

This CPE webinar by Warren Bergstein will address oral communication styles, written communication methods, and the way communication will be used on an ongoing basis to actively monitor the plan in future periods or years. 

This course covers the following Major Topics: 

• The Occurrence of Communication
• Communication Styles
• Getting Ready to Design the Plan 
• Specific Client Needs Should be Addressed
• Implementation of the Plan 
• Writing the Financial Plan 
• Components of a Written Financial Plan
• Observations And Recommendations
• Timing – When the Plan Takes Effect
• Moving Forward 
• Monitoring the Plan
• The Planner – Client Relationship

Overview

• Review the definition of communication and communication styles

  5 mins
• Developing and presenting financial planning recommendations and/or alternatives

  16 mins
• Implementation of the plan

  28 mins
• Writing the financial plan

  35 mins
• Components of a written financial plan

  71 mins
• Observations and recommendations

  84 mins