From Nervous to Knowledgeable: What to Expect in Your First Financial Planning Meeting

So, you’ve said “YES!” to ongoing financial planning. What comes next?

Sometimes the fear of what is to come can keep you from taking that initial leap. I’ve wanted to join a gym for a while, but I have been afraid to take the leap. I’m concerned about not knowing what exercises to do, how to use gym equipment, and frankly, fear judgment from others because I’m starting a new fitness program. Can you relate?

Many of my clients have shared their fear of taking the leap into financial planning because they were concerned about not understanding financial jargon, worried about feeling judged, and overall feel intimidated by the process. Money is personal, private, and emotional. 

It is for these reasons that I wanted to share with you what we discuss in the first meeting; the one after you sign the client agreement. I call it the Discovery Meeting. 

The Discovery Meeting is 90-minutes. Most of our meetings are 60-minutes, but the first one is a little bit longer so we can knock out some important tasks. You’ll get an agenda before the meeting, so you’ll know what to expect. It will look like this:

1.     Welcome and Introduction (5 minutes)
2.     Brief client updates (personal and financial)
3.     Client Contact Information Data Collection (10 minutes)
4.     Complete fillable document, including DOB & SSN
5.     Review of Financial Goals and Objectives (20 minutes)
6.     Discuss client’s short-term or long-term goals (education, debt, cash flow, savings/emergency fund, retirement planning, tax planning, estate planning, investments, employee benefits review, career, insurance, etc.)
7.     Identify new life events that may impact financial objectives
8.     Personal Values Exercise (20 minutes)
9.     Review list of personal values
10.     Choose between 5-8 personal values that resonate with client
11.     Discuss how these values will be the guiding principle for planning engagement
12.     Introduction to RightCapital (30 minutes)
13.     Add client to RightCapital and send invitation to input information
14.     Explore ‘Sample Client’
15.     Invite client to complete Risk Assessment and review
16.     Schedule next meeting (5 minutes)

That’s it. It’s pretty painless, I hope. The personal values exercise and risk assessment are ways for me to get to know you a little better before we start diving into the (1) now, (2) soon, and (3) later financial planning tasks that are a part of your comprehensive plan. My goal is to eventually alleviate your fear of financial planning, your fear of talking about money, and your fear of being judged. Transparency is one of the core values at BayView Financial Planning. I hope this transparency into the process was helpful.

Ready to learn more about how BayView Financial Planning can help you build your own financial plan? Schedule a complimentary call.

BayView Financial Planning [BFP] is a Registered Investment Adviser in the state of Florida. Advisory services are only offered to clients or prospective clients where BFP and its representatives are properly registered or exempt from registration. “Likes” should not be considered a positive reflection of the investment advisory services offered by BFP. 

Stacy Miller, CFP® is an investment adviser representative of BayView Financial  Planning. The firm is a registered investment adviser and only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability. 

The information presented on this post is believed to be factual and up-to-date, but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. Comments should not be construed as an offer to buy or sell, or a solicitation of an offer to buy or sell the investments mentioned. A professional adviser should be consulted before implementing any of the strategies discussed. Investments involve varying degrees of risk, and there can be no assurance that any specific investment or strategy will be suitable or profitable for a client’s portfolio. All investment strategies can result in profit or loss.