Simplify Your Financial Planning Process with The Bucket Plan®: Step 1, Discover

The Bucket Plan® On-Demand Podcast

Simplify Your Financial Planning Process with The Bucket Plan®: Step 1, Discover

In This Episode

About the episode:

Want to enhance your client onboarding process and build stronger relationships from the start? Join hosts Jason L Smith, Dave Alison, and guest Bryan Bibbo, AIF, NSSA, BPC, President and CFO of JL Smith Holistic Wealth Management, as they discuss the first step of The Bucket Plan® holistic wealth management process: the discover phase.

The discover phase is the initial information-gathering stage where advisors learn about their clients’ current financial situation, personal background, goals, objectives, existing finances, tax situation, and priorities. This step sets the foundation for all future planning and ensures that you can create truly personalized financial plans for your clients.

Drawing from their extensive experience, the hosts share valuable insights on conducting effective meetings and using this phase to uncover clients’ true financial needs and concerns.

Key Points Discussed:

  • Purpose of the Discover Phase: Understanding the importance of this step in tailoring personalized financial plans.
  • Client Comfort: Techniques for creating a comfortable environment for clients to share financial information openly.
  • Holistic Approach: Exploring the five pillars of holistic wealth management and how they inform the discover process.
  • The Bucket Plan® Framework: Introducing clients to the now, soon, and later bucket concept during discovery.
  • Family Estate Organizer: Utilizing this tool to help clients organize important documents and information.
  • Concerns and Priorities Worksheet: Implementing this exercise to identify clients’ top financial priorities and concerns.
  • Pre-Discovery Consultation: Understanding the importance of the initial phone consultation in qualifying potential clients.
  • RIA Support: Leveraging resources like Prosperity Capital Advisors for compliance and back-office support.
  • Multi-Meeting Process: Introducing clients to the full holistic wealth management process, including future design and delivery meetings.

Listen in to learn how to conduct more effective discover meetings, uncover your clients’ true financial needs, and set the foundation for comprehensive, personalized financial planning using The Bucket Plan® methodology.

Resources:

Simplify Your Financial Planning Process with The Bucket Plan®: Step 1, Discover

About the Hosts:

Jason L Smith is a father, husband, nationally acclaimed speaker, financial planner, best-selling author, coach, and entrepreneur dedicated to simplifying financial planning for families worldwide and supporting advisors everywhere. He is the Founder and CEO of C2P, as well as his own financial services practice, JL Smith Holistic Wealth Management. Jason’s passion and expertise lie in all aspects of holistic financial planning, further evidenced by being Founder and CEO of Prosperity Capital Advisors, a nationally recognized planning-first RIA. As a skilled leader in the financial services industry, Jason truly enjoys helping advisors secure and scale their businesses and better serve clients through C2P’s trusted processes and models.

Dave Alison is an accomplished financial planner and business leader committed to helping advisors expand their reach and improve the quality of their service to clients. In addition to being the President and a Founding Partner of C2P and the Founder and CEO of Alison Wealth Management — his own financial services firm — he is also the President and Founding Partner of Prosperity Capital Advisors, an acclaimed planning-first RIA. Dave leverages his expertise in all things financial planning, particularly taxes and solutions for high-net-worth clients, to educate financial professionals on best practices and ways to raise the bar in their own practices. Wealth Management, his own financial services firm.

About the Guest:

Bryan Bibbo, AIF, NSSA, BPC, serves as President, CFO, and Lead Advisor at JL Smith Holistic Wealth Management, focusing on retirement planning, estate, and financial income planning. Since 2015, he has provided financial education and retirement planning strategies to residents in Northeast Ohio. His client base includes successful professionals, business owners, and retirees seeking to develop financial strategies for wealth optimization and securing a reliable income source during retirement. Bryan is committed to ensuring his clients’ financial plans are both comprehensive and adaptable, allowing for peace of mind regarding their financial futures.
He holds various professional licenses and designations, including Life and Health Insurance, Series 65, and the Annual Filing Season Program (AFSP) with the Internal Revenue Service. His specialized designations include National Social Security Advisor, Accredited Investment Fiduciary, and Bucket Plan Certified®. Bryan advocates for a holistic retirement plan that addresses key areas such as withdrawals, taxes, risk tolerance, long-term care mitigation, and inflation, emphasizing the importance of flexibility to adjust plans according to changes in laws, taxes, and the economy.