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by Craig Callon, CFP®, Financial Planning Consultant
In today’s increasingly competitive environment, it’s important for advisors to deliver comprehensive financial planning services tailored to the needs of clients, structured in a way that is operationally efficient and scalable. One way to demonstrate value and rise above the competition is to provide clients with a planning calendar around planning topics that are relevant to a client’s financial life throughout the year.
The planning calendar is a schedule of financial strategies that align with life patterns and client engagement activities, which helps provide clients with a roadmap for the types of services clients can expect from their advisor year in and year out. The calendar may vary by practice and may even be highly unique if the advisor is focused on niche clientele with specific needs. It’s a great way to help clients understand the value offered by a financial advisor while also illustrating the breadth of solutions offered by the practice.
Implementation of an annual service calendar helps ensure that critical areas of clients’ financial plans are addressed. Other benefits include:
In addition, understanding a client’s workplace benefits allows advisors to introduce insurance solutions that supplement their benefits to ensure appropriate coverage. These meetings are also an opportunity to get introduced to a client’s other centers of influence, including CPAs, attorneys, and property & casualty insurance brokers. This may allow advisors to have a more wholistic view of a clients’ financial situation and build a partnership with these other professionals.
The following is an example of an Annual Service Calendar, focusing on financial planning and client engagement activities:
Quarter 1
Taxes
Beneficiary Review
Estate Planning
Quarter 2
College Savings
Insurance Review
Cash Flow Analysis
Quarter 3
Workplace Benefits
Retirement Review
Emergency Fund
Quarter 4
Investment Review
Tax Planning
A properly implemented Annual Service Calendar can benefit the client and advisor, setting clear expectations for both sides and ensuring regular meetings to fully address all areas of the client’s financial life.
For more information on creating and implementing an annual service calendar, please contact Craig Callon, CFP® at craig.callon@hilltopsecurities.com or 214-859-1726.
To learn more about Momentum Independent Network, contact Wealth Management at WealthManagementInfo@hilltopsecurities.com or 833-4HILLTOP.
The paper/commentary was prepared by Momentum Independent Network (MIN). Momentum Independent Network Inc. is a registered broker-dealer and registered investment advisor that does not provide tax or legal advice. MIN and Hilltop Securities are wholly owned subsidiaries of Hilltop Holdings Inc. (NYSE: HTH) located at 717 N. Harwood St. Suite 3400, Dallas, TX 75201 (214) 859-1800, 833-4HILLTOP. Member FINRA/SIPC