By this time you should have a client selected to create a financial plan for. After you have identified your client, you should hold an initial meeting with the client. Prepare for the meeting as we learned in the first unit of this course (carefully review Chapters 1, 3 and 4).
During the first meeting you should:
- 1) determine the financial planning need you will address for them; and
- 2) set financial planning goals
At the end of your meeting, provide your client with the appropriate Questionnaire from the MoneyGuide Pro software. You can use the MoneyGuide Pro software to complete one of the following plan types:
- A Full Comprehensive Financial Plan
- A Retirement Lifestyle Workbook and Retirement Plan
- Eliminating Debt or Structuring and Planning Household Cash Flows (Budgeting)Ask your client to return the completed Questionnaire to you within one week.After you have received and reviewed the Questionnaire, you should schedule a second meeting with your client to confirm the scope of the plan and ask any questions you have about the information they provided in the Questionnaire.After data has been collected, and you and the client have agreed upon the scope of the plan you are going to create, enter your client’s data in MoneyGuide Pro to create afinancial plan for your client. responsible for creating a Cash Flow Statement, Balance Sheet and Budget for your client to turn in on this date.
What to turn in: Submit a write-up that includes:
1) description of your client;
2) scope of planning the client wants you to perform;
3) Goals you and the client created
4) Balance Sheet, Cash Flow Statement and Budget;
5) Print-out of data from MoneyGuide Pro (screenshots);
6) Explanation of the results of the MoneyGuide Pro Report as you will discuss with your client at next meeting.
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