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E122 – Baking a Cake or Building a Company, Recipe for Success Part 2

Click here to watch the video version.

In this episode of "From Busy to Rich," hosts Wes Young and Justin Lakin explore key elements for achieving business success in the financial advisory sector. Building on their previous discussion, they emphasize the importance of a high-value financial planning process. Wes introduces the concept of the "unlived life," highlighting the gap between clients' current and desired lives. He outlines a structured onboarding process with phases like Location, Expectation, Direction, and Execution to guide clients effectively. The episode underscores the need for personalized financial planning to help clients overcome resistance, achieve their goals, and enhance their overall quality of life.

In today’s episode we will cover:

  • Importance of a high-value financial planning process in the financial advisory sector.
  • Concept of the "unlived life" and the gap between current and desired life.
  • Structured onboarding process for new clients, including phases: Location, Expectation, Direction, and Execution.
  • Creating a financial snapshot to visualize clients' current financial situations.
  • Importance of tax intelligence and collaboration with CPAs for effective financial planning.
  • Family bank velocity strategy for structuring liquid assets to support financial goals.
  • Addressing potential what-if scenarios to prepare clients for uncertainties.
  • Ongoing communication and regular check-ins to assess progress and adjust financial plans.

We hope you enjoy this episode, and we would love to hear your feedback by having you leave a review. Have a question for us to answer on the podcast? Let us know here!

If you’re an advisor and want to further explore these or other topics, you can learn more at www.wesyounglive.com. Maybe you’re interested in taking your own planning journey in a new direction, in that case we would love to have you join us in one of our coming Transform Learning Series.