Don't Use a Generic Financial Plan
While the financial planning process still works very well, in fact maybe even better today than it did two or three decades ago, one plan cannot fit all the needs for your clients. --Larry Silver
A generic financial plan rarely, if ever, works. From a marketing perspective, it's like advertising black and white televisions when everyone else is offering high-definition. While the financial planning process still works very well, in fact maybe even better today than it did two or three decades ago, one plan cannot fit all the needs for your clients. Rather, there needs to be specific financial plans designed to meet very specific investment objectives: college funding, retirement, estate planning and business succession; not to mention even more targeted plans designed to fund the purchase of a vacation home, pay for a child's wedding or cover that dream vacation around the world.
-Larry Silver, director of marketing at Raymond James Financial until his retirement, in Now Is the Time to Redefine the Financial Plan
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