In late February, Brenna gathered with a dozen other CFP® professionals for a three-day training in financial life planning, courtesy of Money Quotient.
Financial life planning is defined as a process of:
– Helping people focus on the true values and motivations in their lives;
– Determining the goals and objects they have as they see their lives develop; and,
– Using these values, motivations, goals, and objectives to guide the planning process and provide a framework for making choices and decisions in life that have financial and non-financial consequences.
Money Quotient is a research-based 501©3 organization that provides advisors across the globe with tools to help facilitate meaningful conversation. The goal is to encourage and guide clients on their journey in moving from success to significance. Their name, Money Quotient, is meant to represent the measurement of an overall, purposeful connection between money and life.
Whether it’s a transition to a new career path/retirement, the loss of a parent or receiving a windfall, the extensive library of tools available through this organization provides a great opportunity. During the training, she said it was easy to think of at least a dozen client families who could benefit from these resources in one way or another. In addition, there is a partnership with the First Step Cash Management System, which can help clients streamline their cash flow in a way that it both meets long term goals and provides parameters around short term spending. All without transaction tracking, which most people find difficult to maintain.
Brenna is looking forward to exploring some of these tools together and thinks anything we can do to better engage the left and right sides of our brain to have them working together will inevitably lead to better outcomes.