Understanding Financial Health for Better Financial Planning with Reese Harper

Mar 12, 2024

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Elements breathes life into financial analysis, generating comprehensive diagnostic reports that reveal the health of clients' portfolios. Imagine a detailed MRI for the client's financial well-being, highlighting strengths, weaknesses, and potential areas for improvement. This transparency empowers advisors to move beyond surface-level analysis and craft strategies that address specific needs and aspirations.

In this episode, Jack talks with Reese Harper, CEO of Elements. Reese developed the Elements Financial Planning System to simplify how financial advisors organize and evaluate their clients' comprehensive financial data at a glance–enabling them to focus on the functional and emotional jobs that drive results for their clients. Reese is also an educator at heart, a renowned author, speaker, podcast host, and a trusted advisor for a select book of high-net-worth professionals.

Reese talks with Jack about how Elements is changing the way financial planning is done. He discusses how providing diagnostic reports helps financial advisors assess the financial health of their clients. Tracking the 12 financial vital signs allows advisors to have more meaningful conversations with their clients and make targeted recommendations.

Key Takeaways

[01:08] - How Elements is different from other financial services tools.
[07:33] - How advisors use Elements.
[14:15] - Successful use cases of Elements.
[17:47] - The idea behind the foundation of Elements.
[21:04] - The shift towards organic local brands.
[22:41] - Why Dentist Advisors was founded.
[33:03] - Reese's take on the future of the industry.
[37:37] - Reese's passions outside of work.

Quotes

[01:34] - "Elements is a financial vitals software. It happens like a diagnostic report, blood pressure, or cholesterol readings in a doctor's visit. Think of it as financial vital signs that we use to assess the present-day financial health of an individual." - Reese Harper

[34:07] - "When you deploy a strategy where you're having a conversation that is coming before the product or the planning conversation, make sure that the first conversation feels safe. Make sure it doesn't feel like there's a product in it. Make sure it feels valuable." ~ Reese Harper

[36:29] - "If the value proposition you sold to your client was about the investments, the insurance, or the annuity, you might have a functional relationship that could be displaced. But if you start the relationship with an emotional job, meaning support, confidence, reassurance, or a deep relationship, you'll never get displaced." ~ Reese Harper

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