142-One Possible Business Model For an Ethical Financial Planning Practice Serving Middle-Income Families
Radical Personal Finance · Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP
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Show Notes
I designed a potential financial planning practice structure a year or so ago. It has been my backup plan if Radical Personal Finance were unable to be financially productive. (It's probably still a backup of a backup.)
In light of the Episode 139: "My Advice for People Interested In Getting Into Financial Planning," I decided to follow up with some specific ideas for a practice I considered creating.
Here are my ideas.
The show includes a discussion of:
- The problem of providing planning for middle-income households
- The idea of a planning model for a monthly fee
- How to align advisor and client incentives
- The benefits of a virtual financial planning meeting
- The importance of having a clear marketing plan for your practice
- Ideas for building trust
- The importance of demonstrating expertise
- The importance of a niche market focus
- Limitations on income with this model
Enjoy the show!
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