Business

4 Tips for Creating a Financial Advisor Business Plan

Published

3 years ago

July 14, 2021

4 Tips for Creating a Financial Advisor Business Plan

Creating your financial advisor business plan and becoming a successful financial advisor can be quite difficult when you haven’t had too much experience. There can be a lot of ups and downs, as well as a lot of information or skills that cannot be learned until you experience them firsthand.

Luckily, you have the power of learning from experiences from previous advisors who have learned and practiced the same skills you have and have walked the same path you are following!

This means there are a multitude of different sources you can learn from and read, while it may not give you firsthand experience, it will give you information that they learned while making mistakes or learning from experiences.

Here are 4 great tips for creating a financial advisor business plan that has been expressed by many other financial advisors!

Investing in your knowledge and Skill Set

When creating a business plan, you want to be ready to provide all the needed skills to give your client the best possible plan and outcome. To do this, there are some key things you should always keep in mind. The major focus should be what skills or knowledge will you offer in your advisory business plan that will differ from any other financial advisor.

How Investing In Yourself Helps You

Enhancing your skills set and knowledge on all topics you seek to help your client(s) with is a key element to creating a winning business plan for your financial advisory business. The better your skills, the more likely you will be able to offer the correct advice or assistance. The more knowledge you have, the more you will understand the client’s problems or goals.

The Hiring Side

Having great skills and knowledge will also translate into the hiring side. If you can display the skill set, through experience, testimonials, or any other relevant showing, you would be able to show that you have great knowledge and skills to be offered. The better the skills and knowledge you can offer, the more likely a client would pick you than another advisor.

Plan Who and How you will help

Forming an action plan on who you want to help and how you plan to assist them is a key step and an important tip given by many advisors making business plans for their clients. It’s the main focus of the plan after all, how you will help them and who you will help. Once you have this figured out you can craft a customized plan to achieve their specific goal.

The Who

The Who plays an important part in deciding what is relevant and what they want. Who is your client(s), who you are helping, and who needs the help. Once you have a target goal of who your ideal client is, and what you’ll be helping them with, you can then move to your how to find out How you can help this client.

The How

The How is after finding out who you are helping and what they need help with. Once this is figured out, you can then move to the next step of your plan to decide how you will help them achieve their goal. How are the actions you will put in place or act upon to achieve their desired goal.

Both the how and the who play an important factor in creating a business plan thus should always be kept in mind.

Determine what Success means to you and your client

Success is measured differently by each individual, thus should always be kept in mind when creating a business plan for financial advising. You should try to achieve success for yourself and please the client and ensure they are reaching success as well. This is to ensure great client feedback, gain testimonials, improve your skills, and show you are committed to giving your client the best work possible.

Success to Yourself

Describing success to yourself probably won’t be that hard. It would be something along the lines of, “Please the client and give them the best experience.” or something similar to that. The key point of describing success to yourself is to show what you want to achieve that will make you happy or feel accomplished once completed.

This can be as simple as you like, or as complex. But the goal is once it is described it will push you towards this goal building momentum to where you will constantly work to bring success to yourself. And with the client being your main focus, this will also bring success to your client.

Success to Your Client

Success to your client can be idealized by you but would be described by the client which could be or could not be described by them. If it is described, then you have a clear image of what the client wants, how they want it done, and what you can do to achieve their goal.

If their goal for success is not described, you will have to use your best judgment to place yourself in the client’s shoes and think about what would make them happy or feel accomplished after you show them your work. This could be getting them to where they wanted to be, getting them past that, or having them see consistent growth in which they haven’t seen before. Everyone’s ideas for success are different.

Get great time management

Learning the way of time management is a great tip for any job or career, but is greatly important for working on or creating a financial advisory business plan. This job requires the ability to manage your time to speak with clients to see what they need, be able to build each client a personalized approach, work on multiple clients at a time, and many other things.

This means you’ll be doing a lot at one time, and may feel overwhelmed. The best way to solve being stressed from too many requirements is to manage your time and start planning things out.

Tips to Manage your Time

Create a plan on what you want to get done in one day
Remove distractions from your workspace
Connect with each client and note who they are and what they need to be done
Allot time to give yourself a break now and then if need be

Make the best Advisor Business Plan for Financials

The goal of a financial Advisor and creating a financial advisor business plan is to bring your clients and customers the best service possible. The best way to do this is to offer the best skills, create a great plan on who and how you’ll help your client, find out what success means to both you and your client, and find a great way to manage your time to give the best service.

There are many more tips that could be offered, but these are the major tips to keep in mind when creating a financial advisor business plan, keep them in mind when working with your next plan or client!

Business

Chris Dixon, RFC: Shaping the Future of Retirement Planning

Published

3 weeks ago

April 4, 2024

sylvia J

Shaping the Future of Retirement Planning

Chris Dixon stands out as a beacon of innovation and expertise in financial advisory. As a co-founder and managing partner at Oxford Advisory Group, Chris Dixon brings a wealth of knowledge and a unique perspective to retirement planning and tax-efficient strategies for retirees. His robust background, which combines a Bachelor of Science with Political Science Honors and a certificate in Sustainable Business Strategy from Harvard Business School, makes his qualifications impeccable.

A Commitment to Tax Efficiency and Education

Chris Dixon’s role at Oxford Advisory Group transcends traditional financial planning. His focus on developing tax-efficient strategies and income planning for retirees places him at the forefront of financial consultancy. Chris Dixon’s approach is not just about ensuring financial security for the present but paving a way for his clients’ sustainable and prosperous future.

Personalized Strategies for Every Client

Chris Dixon’s expertise goes beyond just offering financial advice; he excels in crafting personalized financial strategies that cater to each client’s unique needs. Understanding that no two financial situations are alike, Chris Dixon RFC employs a meticulous approach to financial planning, ensuring that every plan is tailored specifically to the individual’s goals, lifestyle, and future aspirations. This personalized touch sets Chris Dixon apart in the industry and guarantees that clients receive the most relevant and impactful financial guidance possible.

Bridging Knowledge Gaps with Seminars and Media Appearances

Recognizing the importance of financial education, Chris Dixon actively participates in informational seminars on Taxes in Retirement and Social Security. His commitment to sharing knowledge extends beyond personal interactions. Chris Dixon is a co-host of “Reinventing Retirement” on TV and radio, platforms that significantly broaden the reach of his valuable insights.

Authorship and Influence

Chris Dixon’s contributions to the financial industry include co-authoring the book “Total Tax-Free Retirement.” His articles and expert opinions have been featured in prestigious publications such as Newsmax Finance, Yahoo! News, Nasdaq, and US News, marking him as a thought leader in retirement planning.

Leadership and Vision

Beyond his immediate responsibilities, Chris Dixon’s influence extends to mentoring other advisors nationwide and sharing his tax strategies and planning techniques. His involvement with top Wall Street banks and his role on the board of the Advent Health Foundation illustrates his commitment to both the financial and broader community.

Entrust Your Future with Christ Dixon

Choosing Chris Dixon as your Registered Financial Consultant (RFC) means entrusting your retirement planning to a visionary deeply committed to your financial well-being and future. With Chris Dixon and the Oxford Advisory Group, retirement planning becomes not just a necessity but an empowering journey toward achieving your dreams.

In an ever-evolving financial landscape, Chris Dixon, RFC, represents a trusted guide committed to helping retirees navigate the complexities of financial planning with confidence and foresight. His dedication to tax efficiency, coupled with a proactive approach to education and community engagement, sets a new standard in financial advisory services.

Contact Oxford Advisory Group Today

For those looking to secure their financial future with a partner who truly cares, Chris Dixon, RFC, at Oxford Advisory Group is an unparalleled choice. His expertise and innovative strategies ensure that retirement is not just a phase of life but a new beginning full of possibilities and peace of mind.

Business

How Does a Charge Off Work

Published

1 month ago

March 18, 2024

sylvia J

In the realm of debt resolution, few terms evoke as much confusion and concern as “charge-off.” For many, it’s a dreaded status that signals financial trouble and uncertainty. But what exactly does it mean, and how does it impact your financial life? In this article, we’ll take a closer look at the ins and outs of charge-offs, shedding light on this often misunderstood aspect of credit and debt management.

Unraveling the Charge Off Mystery

At its core, a charge-off represents a significant milestone in the life cycle of a debt. When a lender or creditor deems an account uncollectible due to non-payment, they may choose to charge off the debt. This decision essentially acknowledges that the debt is unlikely to be repaid in full and allows the creditor to write it off as a loss for accounting purposes. However, it’s essential to understand that a charge-off does not absolve you of your legal obligation to repay the debt. Instead, it marks the beginning of a new phase in the debt collection process.

Navigating the Aftermath: What Happens Next?

Once a debt has been charged off, several scenarios may unfold. In some cases, the creditor may opt to sell the debt to a third-party debt buyer, who will then attempt to collect on the outstanding balance. Alternatively, the creditor may transfer the debt to a collection agency, which will pursue repayment on behalf of the original creditor. Regardless of who holds the debt, you remain legally obligated to satisfy the outstanding balance, subject to the terms of the original credit agreement.

Understanding Your Options: Debt Resolution Strategies

Facing a charged-off debt can feel daunting, but it’s essential to remember that you have options for resolving the situation. One potential avenue is debt resolution, which involves negotiating with creditors or collection agencies to reach a mutually acceptable settlement. This could involve agreeing to a reduced lump-sum payment, setting up a structured repayment plan, or exploring debt consolidation options. By proactively addressing the issue and working toward a resolution, you can take control of your financial situation and begin to move forward.

The Importance of Communication: Navigating the Collection Process

Throughout the collection process, communication is key. If you receive notification of a charged-off debt or are contacted by a debt collector, it’s crucial to respond promptly and engage in open dialogue. Ignoring the situation or avoiding communication with creditors and collectors will only exacerbate the problem and may result in further legal action. By staying informed, being proactive, and seeking assistance when needed, you can better navigate the complexities of debt collection and work toward a positive resolution.

Conclusion: Empowering Yourself with Knowledge

In conclusion, understanding how a charge-off works is an essential step in managing your financial health and addressing outstanding debts. While the prospect of a charge-off may seem daunting, it’s crucial to remember that you have options for resolving the situation and moving forward. By educating yourself about the collection process, exploring debt resolution strategies, and maintaining open communication with creditors, you can take control of your financial future and work toward a brighter tomorrow.

Business

The future of commercial aviation: Trends and innovations

Published

3 months ago

January 12, 2024

sylvia J

As the global landscape of commercial aviation evolves, propelled by technological advancements and a growing emphasis on sustainability, the industry finds itself at the cusp of a transformative era. The latest trends and innovations that are reshaping the future of commercial aviation. From sustainable practices to groundbreaking technologies and enhancements in both aircraft design and passenger experience, the trajectory of the aviation sector is marked by impressive developments.

Sustainable aviation takes flight

One of the most significant shifts in the aviation industry is the concerted effort towards sustainability. Airlines are increasingly recognising the imperative to reduce their carbon footprint and embrace eco-friendly practices. Sustainable aviation fuels (SAFs) are emerging as a promising solution, derived from renewable sources, and engineered to curtail greenhouse gas emissions. As airlines worldwide commit to net-zero carbon goals, the integration of SAFs is becoming a cornerstone of their environmental initiatives.

In November of 2023, Emirates completed a demo flight from Dubai International Airport using an A380 with one of its four engines using 100% SAF. Virgin Atlantic has also proven the successful performance of SAF during a flight from London to New York. The Boeing 787 engines were fuelled completely by 100% SAF.

In parallel, aircraft manufacturers are exploring electric propulsion systems and hybrid-electric aircraft. These innovations aim to minimise the reliance on traditional jet fuels, paving the way for cleaner and more environmentally friendly flight operations. Sustainable practices are not just a trend but a fundamental shift towards a more responsible and eco-conscious future for commercial aviation.

Emerging technologies transform the skies

The future of commercial aviation is intricately linked with cutting-edge technologies that promise to redefine how we fly. Artificial Intelligence (AI) is playing a pivotal role in enhancing operational efficiency, from optimising flight routes for fuel efficiency to predictive maintenance, ensuring aircraft are in peak condition.

Moreover, the concept of autonomous flight is gaining traction, with advancements in autonomous systems and unmanned aerial vehicles (UAVs). While fully autonomous commercial flights are still on the horizon, the integration of autonomous technologies is gradually becoming a reality in certain aspects of aviation operations.

The implementation of 5G connectivity is set to revolutionise in-flight experiences, providing passengers with seamless internet connectivity, real-time entertainment streaming, and enhanced communication capabilities. The connected aircraft of the future is not just a mode of transportation but a hub of digital experiences, transforming the way passengers engage with the world from the sky.

Advancements in aircraft design

Innovations in aircraft design are reshaping the very structure of commercial planes. Lightweight materials, such as advanced composites and carbon fibre-reinforced plastics, are increasingly replacing traditional metals, contributing to fuel efficiency, and reducing overall weight. These materials, coupled with aerodynamic advancements, result in more streamlined and fuel-efficient aircraft.

The development of supersonic and hypersonic aircraft is another frontier that holds promise for the future of aviation. These high-speed planes have the potential to drastically reduce travel times, opening up new possibilities for long-haul flights and global connectivity. Although still in the experimental phase, the prospect of supersonic and hypersonic travel signals a paradigm shift in the way we conceive air travel.

Elevating the passenger experience

As the aviation industry embraces technological advancements, the focus on enhancing the passenger experience has become the focus of several airlines. From the moment passengers step into the airport, technology is deployed to streamline processes, reduce wait times, and create a more personalised journey.

Biometric technology, including facial recognition and fingerprint scanning, is becoming increasingly prevalent in airports, simplifying the check-in, security, and boarding processes. This not only enhances security measures but also contributes to a more seamless and efficient travel experience.

Inside the aircraft, the cabin itself is transforming. Modern interiors are designed for comfort, with smart seating arrangements and customisable spaces that cater to diverse passenger needs. In-flight entertainment systems are evolving to provide a more immersive and personalised experience, offering passengers a plethora of entertainment options at their fingertips.

Shaping the future of aviation education

Amidst these transformative trends, the role of aviation education, especially those undergoing flight training in Australia, becomes pivotal. The demand for skilled professionals, including individuals holding a Commercial Pilot Licence, is poised to grow in tandem with the expanding aviation landscape. Future pilots need to be equipped not only with traditional flying skills but also with a deep understanding of the evolving technological and sustainable aspects of modern aviation.

As aviation education adapts to these changes, aspiring pilots must undergo comprehensive training that encompasses the latest technologies, sustainability practices, and the nuances of operating advanced aircraft. The future of commercial aviation relies on a generation of pilots who are not only proficient in the art of flying but are also attuned to the industry’s dynamic and progressive nature.

Soaring into the future

The future of commercial aviation is an exhilarating journey into uncharted skies, guided by the compass of sustainability, propelled by cutting-edge technologies, and defined by a commitment to passenger-centric experiences.