What is a Financial Plan? Is it a bird, is it a plane or is it a document?

I keep facing this question especially from prospective clients. They are interested to know how long the document is. Would it have graphics, tables and formulas? Is it created using a software programme or done using an Excel Worksheet? Is it delivered as a printed document or a softcopy? The message to us is clear.
If it is a financial plan, it should be a document.

While we understand the need to have something tangible in one’s hand, we would politely beg to differ. For us, Financial Plan is not the name of ‘a’ document. It is actually name of the entire process. It should be experienced and should not be limited to few pages of a document.

We may engage with our clients through various modes of communication, written and oral, being the most important. We create many documents using many formats such as MS Word, MS Excel, MS PowerPoint, MS Publisher, PDF and so on. We may use telephones, Skype and other tools to communicate with clients. We may hold a meeting, conference or seminar. We may send: emails – with softcopies attached, printed material, CDs, pen drive and so on.

So, to make the experience better to our clients and make it easy for them to understand their plan and start using it, we use multimedia approach. That is the reason we do not want to equate the financial plan to ‘a’ document. Most importantly, we strongly believe that the financial plan is after all ‘personal’ and hence no two plans would look the same. So this is our invitation for the clients to experience rather than just read the financial plan.


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