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It’s been almost fifteen years since I first started doing our discovery process that we now call The Objective Review.  At first we just called it our discovery process.  We then started calling it the Stage 2 Discovery process.  Now we just call it The Objective Review.

The goal with this process is to quickly and efficiently identify what you want to do and why it’s important that you achieve the outcomes we discover.  Over the years we’ve continually added parts to our process that make our Objective Review easier to do and faster to deliver. 

Our entire process has gone from about 45 days to less than a week.  We believe making the Objective Review faster improves your value by allowing you to review the entire process while it’s still fresh in your memory.

We start with the knowledge that you are the expert at what you want. 

Too many advisors think they’re the expert.  They believe that when you as a client walk in it’s their job to “fix” you.  We have a different belief.  We believe that you are the expert in your life and in our engagement.  We expect you to be a full partner in achieving a positive outcome in the work we do.

We develop a customized agenda for the time we spend together.

The Objective Review process has a potential of discussing over twenty main wealth management areas of your business and your life.  We know that we will never cover all twenty in the day and a half that we spend with you.

Before we start our actual meetings we spend a couple of hours talking about what’s important, what you want to accomplish and what areas you would like to concentrate on. 

We do this by providing you with a mind map of what our Objective Review process looks like.  You get to see what our beliefs are, what the process is, objectives from the process, and potential concentration areas.  During our planning conference you get to choose which areas you believe will add the most value for you.

We add client-facing tools.

We believe the consulting part of the work we do can take too long.  When we include you as an integral part of the discovery process we find things just go faster.  We’ve added three tools that help move the process along more quickly.

We start with using mind maps for note taking and communications with you.  Mind maps give us a way to communicate with you in a more useful manner.  Instead of providing you with pages and pages of written material we find that two to four pages of mind maps communicate the day and half we spend together in an efficient and effective manner.

We add the CoreValue process to evaluate opportunities in your business.  The initial CoreValue process takes about three hours.  We work with you and your senior management team to identify strengths and weaknesses in your business.  We find this three-hour process helps us understand where value creation opportunities are in your business.  We then combine this information with our other conversations to start identifying some obvious areas for you to consider as potential focus areas.

We add a client facing financial planning process when needed.  Like our CoreValue process our financial planning process is done with you in the room.  We will load your financial information before our meeting.  This gives us basic information of assets and liabilities you have.  During our conversation we’ll enter what you need and when you need it.  We can then easily see if we’re on track or not with your financial plans.

Once we have our baseline scenario in place it becomes easy for us to start running alternate scenarios to see where you stand on the road to financial independence.  If we find there are areas of concern then we can start to think about some ways of solving the issues that have been identified.

Our goal with our Objective Review is to help you develop outcomes you want to achieve.  We then want to help you understand why this might be important.  Both of these issues are things we want you to control.  We believe you are the expert at what you want and why you want it.

We thought you might be interested in seeing a copy of our Objective Review white paper and mind map.  This eight-page report will help you understand all of the ins and outs of our process.  To get this report and mind map, click on the button below.

Securities and Investment Advisory Services offered through NFP Securities, Inc. (NFPSI), Member FINRA/SIPC. Stage 2 Planning Partners and NFPSI are not affiliated.

This article is published for residents of the United States only.  Registered Representatives and Investment Adviser Representatives of NFP Securities, Inc. may only conduct business with residents of the states and jurisdictions in which they are properly registered.  Therefore, a response to a request for information may be delayed.  Not all of the products and services referenced on this site are available in every state and through every representative or advisor listed.

Topics: for business owners, communication, Client Communication, Mind Maps

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