Importance of Planning

Steve Long and Andy Reiss, Supernova

There are five distinct principles of the Supernova process that every advisory team must embrace to be fully immersed in improving their business.  Those five principles of Segmentation, Organization, Acquisition, Planning and Leadership are all essential to improving the client experience and improving the overall success of the business.

The Planning section is critical to fully understand the clients real financial and emotional needs. The Planning is based on discovering the values of the client, and their attitudes and perceptions on what they are attempting to achieve with their assets.  The process is purposeful and is geared toward obtaining a deep knowledge of the clients needs.  Everyone who is a client in a Supernova practice receives a comprehensive, multi-generational plan.

There are numerous methods to provide a comprehensive plan for clients.  Over the years most broker dealers have introduced planning software that can support the planning process.  The output, or actual plans can vary in size, scope and recommendations.  We have seen some planning software create over 150 pages of data and recommendations for clients to review.  Other more popular planning packages are simpler and easier for clients to understand.  The most important thing to remember is to have a planning package that can provide an understanding of the clients estate situation, how they will pass their assets along to the next generation, as well as how to invest their assets that is consistent to their needs and risk tolerance.

The only way you can really provide exceptional client service is to have a thorough understanding of that the client expects from your relationship.  Without a viable plan you can’t implement the Supernova client service model of 12-2-4.  The planning section helps provide guidance for the relationship and allows you the advisor to provide support and coaching to the client.  It also provides accountability to the overall relationship and is the best benchmark to keep the client fully engaged.

Let Excellence Be Your Minimum,

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