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Radical Personal Finance

978 EpisodesProduced by Joshua SheatsWebsite

Joshua J Sheats, MSFS, CFP, CLU, ChFC, CASL, CAP, RHU, REBC is a financial planner who teaches people how to live a rich life now while building a plan for financial freedom in 10 years or less. He mixes creative approaches to lifestyle design, deep-dive financial planning techniques, and hard-core … read more

1:25:29

142-One Possible Business Model For an Ethical Financial Planning Practice Serving Middle-Income Families

I designed a potential financial planning practice structure a year or so ago. It has been my backup plan if Radical Personal Finance were unable to be financially productive. (It's probably still a backup of a backup.)

In light of the Episode 139: "My Advice for People Interested In Getting Into Financial Planning," I decided to follow up with some specific ideas for a practice I considered creating.

Here are my ideas. 

The show includes a discussion of:

  • The problem of providing planning for middle-income households
  • The idea of a planning model for a monthly fee
  • How to align advisor and client incentives
  • The benefits of a virtual financial planning meeting
  • The importance of having a clear marketing plan for your practice
  • Ideas for building trust
  • The importance of demonstrating expertise
  • The importance of a niche market focus
  • Limitations on income with this model

Enjoy the show!

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