Elementality for Financial Advisors | Elements Financial Vitals System™ Real Financial Planning Starts With a Real Process
Jul 21, 2020
Ryan Isaac, co-founder of Dentist Advisors, shares his expertise on revolutionizing financial planning tailored for dental professionals. He discusses the journey of establishing a standardized approach amidst uniqueness in client needs. The conversation highlights the blend of art and science in measuring financial health and the importance of personalized technology in client engagement. Additionally, Ryan emphasizes how systematic processes can relieve advisor stress, showcasing the transformative power of structured planning in delivering tailored financial advice.
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Manual Beginnings of Reporting
- Ryan Isaac started by manually creating quarterly financial reports for each client using basic tools like Mac Pages.
- They realized a standardized, efficient process was needed as client volume grew.
Whiteboard Financial Health Attempt
- Reese Harper tried creating a single financial health score using a giant whiteboard and enlisted a math-savvy friend.
- Despite complex formulas, they concluded it was too complicated to weight all financial factors into one number.
Financial Health Factors Are Distinct
- Financial health factors can't be weighted into one number because importance varies by individual priorities.
- Instead, each factor deserves measurement and evaluation independently based on relevant benchmarks.