Jan 4, 2023
Being smart in financial planning is vital, especially if you try to plan on your own. But people who do it themselves often have an inconsistent process. In this week's Grow Money Business podcast, Grant dives into the financial planning process, do it yourself or hire a professional, the seven-step financial process by the CFP board, and more.
[03.20] Hiring a professional – Starting the discussion, Grant dives into his idea about hiring a professional for financial planning.
[07.18] Planning for the future – Grant shares why you must be smart about financial planning.
[13.14] Having a process – Grant shares the importance of having a proper procedure for financial planning. He further shares the problems he identified in his clients when they try financial planning by themselves.
[15.33] CFP board financial planning - CFP Board is a non-profit organization that serves the public by promoting professional standards in personal financial planning.
[17.07] Seven-step financial planning process – Grant walks us through the seven-step financial planning process offered by CFP.
[21.24] Reaching out – Grant shares the details of what kind of professional you need to find if you are going to get help with your financial planning.
[25.57] Being a fiduciary – Grant defines fiduciary responsibility and what you can do if your hired professional is not responsible for being fiduciary.
[28.50] The steps – Grant walks us through the steps they take in the financial planning of their firm.
Resources
Book by Jim Sheils –
The Family Board Meeting: You Have 18 Summers to Create Lasting Connection with Your Children
THE 7 STEP FINANCIAL PLANNING PROCESS –
Strategic Financial Planning For Business Owners in Transition –