TITLE

How Three Individual Practices Became The Center for Financial Planning

AUTHOR(S)
Opiela, Nancy
PUB. DATE
February 1999
SOURCE
Journal of Financial Planning;Feb1999, Vol. 12 Issue 2, p89
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article deals with the success of Center for Financial Planning, a firm established by certified financial planners Daniel H. Boyce, Marilyn M. Gunther and R. Estelle Wade in Southfield, Michigan in 1985. After several false starts down the road to a more perfect union, the planners hired a strategic planner to help with their transformation. The greatest structural change that allowed the partners to move toward establishing a firm was a commitment to technology. With the technician's help, Gunther claims they have literally changed every computer system in the office. This year, 1999, they will move from a peer-to-peer network to more of a true server arrangement. While systems make it possible for the planners to stand in for each other, they respect the fact that their clients want to have a close association with one individual. So, although they provide clients with opportunities to get to know and feel comfortable with all three planners, each has an individual client list. The fact that financial planning issues accompany investment concerns on the Monday agendas illustrates the firm's commitment to financial planning. As their clients have become more sophisticated, so have the planners. While their minimum is $350,000 to invest or $150,000 in annual income, they are taking in people with closer to $500,000 in investable assets and their target clients are in the $1 to $5 million range. When asked the secret of their success, and what will be necessary for a smooth transitioning of clients in the future, the word values occurs in all the partners' responses.
ACCESSION #
1570710

 

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