Weekend Content for New Planners

Weekend Content for New Financial Planners (July 1-2, 2023)

“Weekend Content for New Financial Planners” is a collection of articles, podcasts, videos, etc. that I’ve been consuming regarding breaking into financial planning, industry trends, career development, and more.

Uncovering blind spots in retirement planning and how to replace the nonfinancial benefits that careers provide [Podcast]:

“The biggest surprise was the question that we asked was, for those that have retired, or will, for those that haven’t retired—was the transition to retirement smooth or will the retirement transition be smooth for you? And only 51% of the retirees agreed or strongly agreed with that statement, which means that half of them struggled with the transition.

And remember, this was a subset. The sample methodology that we use, these are planners, these are financially secure people, these are intelligent people that are thinking about this, and still half of them struggled with the transition to retirement. That’s a huge number.

The concerning part of that is when you look at the pre-retirees, 70% of those think it will be a smooth transition. But, in reality, only 50% are going to have a smooth transition based on the survey result. So, people think the transition is going to be a lot easier than it’s going to be.”

Uncovering Blind Spots In Retirement Planning [Christine Benz & Jeff Ptak, The Long View]

ICYMI: The various factors to consider when determining your minimum fee per client and Carl Richards’ 3-step approach for calculating your own minimum fee [Video or Podcast with Transcript]:

[Richards]: “What I wanted to build and why I wanted to build it, drove the type of client. So, if a client needed a quarterly in-depth meeting, they weren’t a good fit for me because I couldn’t fit it in my Lifestyle Revenue Model Generator…”

Kitces & Carl Ep 115: Setting The Right Minimum Fee Per Client And The Revenue Model Generator [Michael Kitces & Carl Richards, Kitces & Carl Podcast]

If after calculating your minimum fee per client, you realize your fee is too low, or you’ve already been considering raising your fee, Carl Richards’ exercise on how to communicate a fee increase [Video]:

Overcoming Fear Of Raising Fees And Making Changes In Your Business [Carl Richards, The Society Of Advice]

How to leverage behavioral finance to boost your marketing and 6 human-centric advice principles [Video]:

How Behavioral Finance Can Differentiate Your Firm [Samantha Russell & Brian Portnoy, FMG]

Y Combinator co-founder Paul Graham’s latest essay on principles and tactics for doing great work [Article]:

“If you collected lists of techniques for doing great work in a lot of different fields, what would the intersection look like? I decided to find out by making it.

Partly my goal was to create a guide that could be used by someone working in any field. But I was also curious about the shape of the intersection. And one thing this exercise shows is that it does have a definite shape; it’s not just a point labeled ‘work hard.'”

How To Do Great Work [Paul Graham, PaulGraham.com]

Morgan Housel with a compilation of thought-provoking questions applicable to both career and personal life, for potentially asking clients when exploring values and goals—as well as asking ourselves [Article]:

“Whose life do I admire that is secretly miserable?

What do I believe is true only because believing it puts me in good standing with my tribe?

Which of my current values would be different if I were raised by different parents?

What do I believe the most with the least amount of evidence of it being true?”

A Few Questions [Morgan Housel, Collaborative Fund]

Which was your favorite takeaway? Comment below!

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