How Are You Spending Yours?

Aug 21, 2019

We Are All Millionaires

 

 

 

 

Time is so precious. Read what my dad would like you to know about time…

 

To the Genuinely Concerned,

The two most valuable “currencies of life” are Money and Time.

What if I gave you $1,000,000 dollars that you were required to spend by June 30, 2020 . The only rule is you must exhaust the money.

What would you have accomplished with the money you spent? You most likely will create a plan on the best way to spend the money. Well done. Well thought out.

Now, what if I told you that you have 1,000,000 minutes to spend by June 30, 2020. The reality is you will have spent 1,000,000 minutes by that date.

What will you have accomplished with the time you spent?

Every 694 days (1.9 years) we blow through 1,000,000 minutes of our life. What do we have to show for it? We spent a million minutes on what? How much time did we waste? Did we get a great return on our time commitment?

Do we have a plan for spending our most precious commodity? Are we living day to day without any discipline? Do we structure our work-day to be so efficient that our personal time also becomes fruitful? Do we know the most effective work habits to produce the best return on our time commitment?

Between Money and Time it is obvious which is most valuable. Our time on earth is limited and by default becomes our most precious and prized possession.

The difference between spending a million dollars and a million minutes is the reality of never getting those minutes back. They are gone forever and are irreplaceable. Money can be replaced, time cannot.

Of the 1,000,000 minutes, 240,000 minutes are spent sleeping. How productive are we with the 760,000 remaining minutes?

There are extraordinary achievements in all of us. It takes work and forethought to make them happen.

What are you going to accomplish with your next 1,000,000 minutes? Got a Plan?

Don’t look back and only be able to say “I shouldn’t have wasted that time”.

Life is not a dress rehearsal. Live every moment with purpose. Each moment is gone forever.

Coach B

 

You can read the original article and connect with the author here.

Make the most of yours...

 

 

 

 

 

 

 

 

Designations Should Mean Something…

Jul 15, 2019

Define Your Value

...or the industry will do it for you

What do the letters that follow your name really mean to your clients?

You can NOT rely on industry generated campaigns to differentiate your value. You must become empowered to do this yourself. If you are lacking the confidence to define exactly what makes you so special, we have something to help you boost your confidence… enough to help you define your authentic relevant value…make it tangible for digital consumption… and maximize your relevance for years to come. If you have a minute, you have time to get started right now.

You won’t survive if you let this industry define your differentiation.

It’s nobody’s business but yours.

Curated Article

CFP Board’s new ad campaign to target client emotional well-being
By Kenneth Corbin
Published June 29 2018

The CFP Board is gearing up to launch a new phase of its marketing campaign, this time focusing on the emotional well-being of clients.

In the fall, the board plans to release a new wave of advertisements across multiple media platforms to tout the CFP designation as the gold standard of financial advice. The campaign builds on market research conducted on consumer sentiment of the planning profession.

In focus groups, consumers who worked with a planner reported feeling more “confident, optimistic, secure and at ease,” according to Kevin Keller, the CFP Board’s CEO.

“That is the opposite of the worry and stress that were cited by people who did not have a financial plan,” Keller said in an online presentation outlining the board’s business objectives.

“We’re finding that people realize they need help with financial planning, and they envision specific emotional benefits from doing so. That is quite powerful,” Keller said.

The CFP Board credits its advertising and public relations campaign with boosting awareness of the financial planning profession and the CFP credential.

The new campaign is scheduled to go into production this summer. It will hit airwaves, print media and online publications after Labor Day.

The Let’s Make a Plan campaign, launched in April 2011, has not been without controversy. Some CFPs have grumbled about funding the effort through a hike in their certificant fees.

To date, the board has spent $73 million on the campaign, which now carries a nearly $12 million annual budget.

That “might seem like a lot to most people, but in the world of advertising it’s just a drop in the bucket,” said Susan John, the chairwoman-elect of the CFP Board’s board of directors, during the online presentation.

The CFP Board credits its advertising and public relations campaign with boosting awareness of the financial planning profession and the CFP credential.

The board is also expanding its diversity initiative beyond the gender imbalance in the planning field to focus on racial and ethnic minorities.

Building on its Women’s Initiative, the CFP Board is now looking to promote the profession to other underrepresented groups, with a diversity summit scheduled in October in New York, according to John.

The board is also touting its new code of ethics and standards of conduct. The new code will take effect October 2019.It will require advisors to act as fiduciaries at all times, a stipulation that has met with some resistance among CFPs, many of whom are brokers.

“I would respectfully disagree that it’s going to be that hard for advisors to comply with the standard of putting your client’s best interest first any time you’re delivering financial advice,” said Richard Salmen, the chairman of the CFP Board’s board of directors, during the presentation.

Salmen rejects the notion that some CFPs will let their certification lapse as a result of the always-on fiduciary requirement. Instead, he argues there is emerging awareness about fiduciary responsibilities among investors spurred on by the highly publicized debate over the Department of Labor’s now-defunct fiduciary rule. He says he is frequently asked whether he is a fiduciary or CFP by prospective clients.

Clients ask whether their advisors are obligated to act as fiduciaries all the time, both Salmen and John say. They are also looking for holistic planning services more frequently, rather than just periodic investment advice.

“There are consumers that are now aware enough and educated enough to know what to ask for,” Salmen said. “And that, to me, is going to drive the future marketplace for financial planning advice.”

1 Comment

  • Posted by Cholly
    Tuesday, July 03 2018 at 11:21 AM
    The CFP Board is completely out of touch with it’s certificate holders. The CFP rakes in nearly $30M annually and in return the certificate holders get a tattoo artist inking a bullseye on our foreheads. I counsel young advisors not to pursue the CFP designation. I may soon surrender my credentials.

 

Link to Original Article

Part 1 of 3 Expanding The Gap

Jun 26, 2019

Expanding the Gap

Part 1

THE POWER TO CONTROL THE PERCEPTION OF YOUR VALUE

Part One of Three

To remain relevant, advisors in the robo era must be able to distinguish themselves from perceived competition.

A few decades ago we came up with a concept that helped us coach advisors about their value in a way that they could grasp easily. We call it The Value Gap and it creates a visual picture of what the advisor must do to exude his or her value tangibly in order to demonstrate authentic relevance. 

The Value Gap 

Part 1

Character Competency and Concern

 

 

Advisor character can be attributed to several aspects of his or her life. Some say it is how you act when nobody is looking. Others might say that your character is your identity. 

In order for you to build your business on purpose, you must see your character from the perspective of others. In order to gather that confidential insight you must have a system in place to collaborate openly and honestly. We call this system Infinite Alpha and the cornerstone of the whole deal is your client-centered purpose.

What does this have to do with your value? 

Similar to The Value Gap model seen in the slides on this post, the model of your character can be seen in another slide that shows you and your clients exactly how you intend to demonstrate your character tangibly. 

 

Your Character plays a quintessential role in your profession as a trusted steward of wealth. The elements that make up your unique character are so powerful and meaningful that they require your attention daily. This is  why the elements of your character require definition by you… through introspection found here… at Tangible Alpha. 

You must define it in order to design it.

The model that we have created just for you… Infinite Advisor Alpha… empowers you to define you Character for digital design so it can be delivered by you and consumed 24/7 by your ideal audience. 

That is really important… 

 

End of Part One