4 Things Certified Financial Planners Should Consider for 2022’s Second Quarter

The first quarter of 2022 may not be the time of year for a certified financial planner to complete their 2022 business plan.

The end of the fourth quarter of the year previous or the beginning of the second quarter are the best times of year for a certified financial planner to complete their 2022 business plan.

The first quarter of 2022 may not be the time of year to complete a 2022 business plan because certified financial planners are extremely busy with their client’s investments and savings plans in advance of 401K / RRSP and Tax Planning for the year.

While it may feel like you’re too busy to take on your 2022 business plan now, it’s crucial for the growth of your business to consider 4 key strategies for 2022’s second quarter.

 

How certified financial planners should prepare for the second quarter of 2022.

 

A certified financial planner business often experiences peaks and valleys. Right now, our advisors are experiencing incredible peaks, with business booming amid their client’s investments and savings plans in advance of 401K / RRSP and Tax Planning for the year.

In March, certified financial planners will inevitably experience The Dip; where business slows down and heads into its valley season. Here is what you should be focusing on to prepare for The Dip in the second quarter 2022.

 

1.   Busiest time of the year.

When we spoke with one of our clients, a certified financial planner, they did 38 transactions and 6 insurance policies in the first 4 days of January. They see 1-2 transactions per day and 1-2 insurance policies per week to give you an idea of how a typical month looks.

During the first quarter of 2022, planners will often see an influx in meetings while their clients set their investment goals for the year. For example, our client has about 60 appointments per month in January and February, with any other typical month at 25-30 meetings.

When you’re already struggling to keep up with work, this shouldn’t be the time to create a stellar business and marketing plan. Right now, what you need to focus on is your clients and prepare for the second quarter of 2022 instead. Marketing may not be the best use of your time right now, but keeping your clients happy is.

 

2.   Strategic quitting.

During the first quarter 2022, certified financial planners should focus on strategic quitting for the growth of their business. That’s right – to grow, you actually need to take on less. But we don’t mean quitting the important stuff.

We’re talking about quitting the wrong stuff and sticking with the right stuff.

The wrong stuff to focus on in the first quarter of 2022 is an incomplete 2022 business plan. If you realize your business plan is incomplete, then you can fix this after the first quarter rush is over. 

The right stuff to focus on in the first quarter of 2022 is your clients.

Begin to strategically quit what doesn’t give you joy in your business so when the second quarter of 2022 comes around; you can commit to double your goodwill value and create and implement your self-managing financial advisor business.

Clients look to advisors to have a vision, plan, and inspiration. So strategically quit the right things to make room for living your values. After all, it’s an organic way to build better relationships and practice goodwill with your clients.

 

3.   Double your practice goodwill value

When you double your goodwill as a certified financial planner, you become a leader in your business instead of just a salesperson. To truly lead your team and clients, you need to develop a vision and business plan by the beginning of the second quarter. This will help you live up to your values and practice goodwill to build trust with your team and clients.

Did you know only 15-20% of certified financial planners I’ve chatted with have a relationship with their clients’ adult children? So stay tuned for our next blog that will tell you exactly how to create your own vision and business plan to attract more A clients and do what you love.

 

4.   Create a truly self-managing financial advisor business.

By doing the planning work for the second quarter of 2022 and strategically quitting/outsourcing tasks that don’t bring you joy, you can become the leader you need to coach your team to manage the day-to-day basics. By doing this, you allow for more spaciousness to focus on your A clients, while your B, C, D clients are looked after by the robust systems you’ve built in your business.

 

 

In the coming weeks, we’ll be sharing how you can create a self-managing business to focus on what matters more in your business; the things that bring you joy. For now, take care of your clients and prepare for the strategic quitting that needs to take place to have a successful second quarter of 2022.