INFO 16029 Lecture Notes - Lecture 2: Tony Soprano, Cash Flow Statement, Cash Flow
4 Dec 2017
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You will make this mistake once and only once if you(cid:495)re an advisor. You don(cid:495)t look professional, plus you waste time. Everybody when they start out, they miss this step, but it(cid:495)s really important: identify priorities you say, (cid:498)(ere is exactly what you need to do to get here(cid:499) once you know what they want. Those are the strategies that they need to follow: implement it(cid:495)s not worth anything if they don(cid:495)t actually do something with it. If someone spends time to go over a plan with you so you can reach your goals, if you don(cid:495)t do anything with it, it(cid:495)s worthless: monitor performance and update - the triangle means (cid:498)change(cid:499) if necessary. We talked about things that could make a client(cid:495)s plans change, like job loss, divorce, having kids, tragedy in the family, winning the lottery, promotion/new job/more money, inheritances, getting married (now there are two incomes)
