Making your life the centre of your financial plan

Posted by Rory Brazil
July 02, 2020
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What is Life Centred Financial Planning?

Life Centred Financial Planning, I call it a ‘Life Without Limits’, inspires people to discover their most desired goals in life. The financial plan is then formulated so a person’s finances fully support those life goals.

This may sound like quite an obvious thing to do for the people we aim to help, but unfortunately due to some financial services providers driving product sales over many years, the heart and meaning of how a Financial Adviser can add value to client’s lives has been lost. This is in addition to the fact that many Financial Advisers have ended up so focused on the numbers, i.e. budgeting, investments, taxes, insurance. As a result of the above factors, Financial Advisers and Planners cannot have real meaningful conversations with their clients.

Traditionally, Financial Advisers rarely ask the important questions like:

“If you had more time or money, what would you do?”
“What do you want to accomplish or attain so you will feel that you’ve had a life well-lived?”
“What moves, touches, or inspires you?”

A Financial Life Planner’s role is to become your partner in clarifying and achieving your most profound goals and aspirations. As I have said, I call our Financial Life Planning client journey a ‘Life Without Limits’ because what’s really important isn’t your money, it’s your life!

Kinder Institute of Life Planning

The Kinder Institute of Life Planning, founded by George Kinder in 2003, trains and coaches Financial Planners worldwide in Financial Life Planning. Through my ongoing studies with the Kinder Institute of Life Planning where I am currently at the Advanced Life Planner stage, I aim to become the first Registered Life Planner (RLP) in Ireland by the end of this year. I am so grateful to George Kinder and his team for all I have experienced to date and it is essential in what I can bring to clients every day around Financial Life Planning.

Hell and Heaven

When a client walks in my door (or appears on my Zoom screen) for the first time, here is how I would describe how they feel ‘Hell’ when it comes to Financial Life Planning:

Anxious, Scared, Negative, Lost, Lack of knowledge, Fear, Pain, Stressed.

And once we have brought them through the ‘Life Without Limits’ journey, here is how I would describe with some key words how they feel ‘Heaven’:

Confident, Peace of mind, Secure, Control, Organised, Positive, Optimistic, Excited.

Quite a difference in the above emotions, I’m sure you’ll agree.

A change in perspective and behaviour

I have found that transitioning our business from traditional product advice into Financial Life Planning means I now have a much closer relationship with my clients’. They value what we deliver more as it gives them a Life and Financial Plan, which ultimately offers them more peace of mind for the future, a ‘Life Without Limits’. I get huge satisfaction every day in how we are changing people’s lives for the better and that’s what it’s all about, along with developing that special long-term partnership where I help keep them true to their goals and dreams.

The Client Journey:

Through our “Life Without Limits” process, we take a 5-step approach called DREAM:

D – Discovery: Here we find the priorities. What is truly important to you and your family? Where are you at now and where do you want to be?

R – Realise: We help you realise and visualise your goals and show you that you can go ahead and achieve these dreams.

E – Everest: How we make it all happen through the various life challenges and obstacles. We break it down into small actionable steps.

A – Action: This is where your Financial Plan is put in place to support your Life Goals.

M – Mentorship: We encourage you to execute the Life Plan and Financial Plan and work with you on an ongoing mentorship to ensure it happens for you.

If you think that we can help make a difference when planning your financial future by focussing on your life plan please contact us for an initial chat.