The Best Financial Planning Strategies for Client Satisfaction


Spectrem Group’s perspective How Financial Advisors Can Increase Client Satisfaction and Loyalty shows that with every planning strategy offered to a client, satisfaction in the advisor goes up.

Owning a business is similar to having children, especially when finances are involved. A business plan can help improve business through investment while keeping an eye on costs and adjusting spending when and where it is possible to do so. Matters to be dealt with include funding for new or improved equipment, employee costs, tax considerations, and future business needs.

Caring for a child financially is similar. The immediate costs are something that is considered with a cash flow management strategy, but caring for their future, either in terms of college or estate planning down the line, requires a different form of financial planning strategy.

A majority of households should probably start with a cash flow management strategy, determining how much revenue they get and when it comes in versus the necessary spending that accrues, again with an eye toward when the bills are due or when the spending is done. This financial planning strategy will immediately determine what discretionary spending is available for the next strategy that comes up.

The next financial planning strategy that many households undertake is saving for the future. Whether it is college costs, or a new home, or retirement, a savings plan is usually required to make any of those things happen the way you want.

Many households wish to increase the amount of money they have for personal budgeting and saving for the future, and that requires an investment plan. Income that is earned through investment can be used to increase savings accounts, or can be reinvested to gain even greater wealth.



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