agile financial planning

roger is a former instructor of retirement planning and employee benefits for the certified financial planner certificate program at the university of texas at arlington. like many people in our industry, i was attracted to the profession by my love of investing and numbers. this primer on the shortcomings of traditional financial planning and the tremendous opportunities of agile financial planning is intended to help advisors shift to a new model that will offer more freedom not only for the clients they serve but also for themselves. countless project managers, software developers, and financial planners still rely on and swear by the traditional approach to getting a job done, or a retirement plan in place. this traditional method also fails to incorporate a wider range of advisor skills, including empathy, adaptability, collective wisdom and intuition – the human characteristics a mac or pc can’t emulate. the good news is that with this new approach to financial planning, advisors don’t have to cram it all in and get it right the first time. so the first fundamental principle of agile financial planning is accepting uncertainty: in markets, taxes, inflation, and our lives. adjusting quickly to life’s financial curveballs helps people stay in the game – and knocks the occasional one out of the park. over time, the decisions a client needs to address are overwhelming, and traditional financial planning – where we try to tackle as many problems as possible all at once – bogs down the process. in each financial planning category and subcategory, there are possible tools to use that can be included in a running checklist.

during our initial huddle, i explained to jeff and kim that they would not be delegating the planning to me – we would be in this together and that i was in no position to make recommendations based on a questionnaire. for jeff and kim, i wanted to focus on the sparks that caused them to engage my services in the first place. the agile financial plan (afp) focuses less on the mechanics of financial planning and more on the feasibility of the client achieving life goals. i don’t want the initial goals to be feasible, i want the initial plan to fail, and i tell clients this. my goal for this second huddle is for them to have more ownership of the process and a better understanding of the interaction among their needs, wants, and wishes, and the resources they have to achieve them. because the clients are not the subjects of the agile financial plan, but are instead participants in creating the afp, i’ve found that multiple negotiations give them the mental space to think more freely and discuss together. this is very unlike traditional planning where the final financial plan, once completed, is presented to them and memorialized in a leather-bound binder that holds little meaning to the client. and this may be the key difference between agile financial planning and traditional planning. using all of these tools allowed jeff, kim, and me to move forward with a robust plan that focused on minimizing investment risk and their time in the corporate world while maximizing their ability to simplify their life and to travel. and agile financial planning focuses heavily on living: the lives that clients have led, and what vision they have for the life ahead.

if you’re listening to this show you are probably interested in creating the practice of your dreams that serves both your clients and your family. in this episode of financial planner freedom, you’ll learn why agile financial planning is the best way to serve your clients and yourself. i think this downward spiral will soon spill over to advisors and planners. there will be a race to the bottom in fees if you want to compete as a financial advisor. agile project management tries to be lean, reactive, and flexible. just like in agile project management, agile financial planning allows you to manage your clients’ funds in a more flexible and intuitive way. listen in to discover why agile financial planning is the way of the future.

by working together with your clients you’ll be able to come up with better solutions predicting the future will prove you wrong – as financial geeks, we love to create spreadsheets predicting the markets, taxes, and finances. but we can’t know what will happen in the future. instead of trying to predict the future, help your clients build a framework for a fluid environment. all of this can become overwhelming when you try to do it all and convey it to clients. the old system tried to tackle all of these areas at once. look for biggest risks and opportunities first to help the client and yourself focus. frequent communication allows you to identify risks and make changes as needed.

agile financial planning helps advisors and their clients identify the necessary short-term changes in the most efficient, effective, and agile financial planning (afp) welcomes the opportunity to be a trusted partner in your journey. the firm offers fee-only financial planning and asset just like in agile project management, agile financial planning allows you to manage your clients’ funds in a more flexible and intuitive way., the agile financial planner podcast, the agile financial planner podcast, agile retirement management, retirement planning guy, agile horizons.

the financial planner freedom podcast by award winning financial planner and podcaster, roger whitney gives you all the info you need to create the lean-agile financial planning with safe: the original white paper avoid flawed, long-horizon cost estimates (except at the macro, value stream investment level) agile financial planning is entirely different. it does away with the planning and budgeting of temporary projects., scaled agile framework finance, safe planning horizons, what is adjusted after participatory budgeting is complete, what is the best way to foster flow of value, innovation and apply lean budgeting in the enterprise, frequency to update lean budget distribution, what is one guardrail on lean budget spend, the retirement man, what is happening when you operate a full utilization of product development process, whitney retirement, rock your retirement. what is agile financial planning? what are the 5 steps in the financial planning process? what are the 7 areas of financial planning? what are the six steps in the financial planning process?

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