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What's Missing from Your Financial Plan? Thumbnail

What's Missing from Your Financial Plan?

There's a lot of firms in the industry that effectively are trying to commoditize you as the client by commoditizing their process. The pitch in the industry is "simple solutions for simple people with simple problems".

I couldn't disagree more with that strategy. The further you progress in your career and financial strength, you need a process that can handle your increasing complexity.

For our own process, there are five aspects to your planning.  Most of the financial planning industry only gets about four of them right.

Asking the Right Questions 

They are things that we can do differently and effectively (I think) because of the business model at Vizionary. Part of that process - discovery, design, deploy, and document - is always the same for most financial firms.

From my perspective, where we really differentiate at Vizionary is in a fifth element.

  1. Discovery – We identify where things are presently and what assets are available to you as well as the pitfalls or roadblocks you may be facing on the road to financial independence.
  2. Designing – We take those raw data points and design the actual financial plan.
  3. Deployment – We put the plan into action - moving and aligning assets, carrying out the steps of your financial plan.
  4. Documentation – We carefully track your progress to help keep your plan on track.

But they don't ask the 5th question, "What are your dreams? What's next?"

Here at Vizionary Wealth Management, that's where we spend a lot of time with our clients and where I think we separate from the field of financial advisors.  

What does Dreaming Look Like for You?

Dreaming is different for everybody at every stage of life. For many of our clients, they're still in their working years. Maybe they're in their wealth maximization years where they need to maximize tax deductions.

Maybe they're in their peak earning years,  and we need to maximize charitable contributions and deductions. They need to be thinking about getting kids finalized through college, through a couple of weddings maybe along the way, that kind of a thing.

But then the dreaming changes.

We have clients today who are actually living in different areas of the country for a few months at a time over a period of a couple of years. Why? Because they're dreaming.

They're dreaming about what they want that next phase of life to look like, and so they're spending time getting into the culture a few months at a time in different areas of the country to figure out where they want to stay when they "grow up".

Are You Thinking About Your Legacy?

We have other clients who are now looking at their charitable legacy. They're considering endowing a chairmanship or a professorship at their that's close to their heart.

For other clients, the dreaming right now is trying to, as one client put it, "teach his children to fish rather than giving them fish". Helping their kids learn how to promote their careers, save well, invest well, as they're continuing on their own journey to financial independence.

Does Your Advisor Help You Dream?

Dreaming is different for everyone at every stage and it's different for every client.

Here at Vizionary, our desire is to set ourselves apart from the field by working with you to cultivate and chase your dreams.

Here at Vizionary Wealth Management, we're always here with perspective for the decisions ahead. If we can help you dream well, please reach out. Let's have a conversation.