EVOKEâ„¢: A Life Planning Methodology for the Coming Revolution in Client Relationships

Kinder, George; Galvan, Susan
April 2005
Journal of Financial Planning;Apr2005, Vol. 18 Issue 4, p46
Academic Journal
• Financial planners have always consulted with their clients concerning their goals, typically from the point of view of money goals rather than life goals. Today's complex economic environment, however, requires a deeper and more realistic approach. The advisor and the client must build higher levels of rapport, a life planning relationship based on trust and greater self-knowledge. • Growing out of earlier research by the author, this article examines a new structural pattern that underlies the life planning relationship. It employs a five-phase process using the acronym EVOKE: Exploration, Vision, Obstacles, Knowledge, and Execution. A case study is interwoven throughout the article to better illustrate the application of EVOKE. • Phase One is Exploration .The open-ended questioning here places the client, rather than the client's assets, at the center of the professional relationship. • Phase Two, Vision, starts to dig more deeply into the client's underlying values, in part by posing three thought-provoking questions: what would you do or change if you were (1) financially secure, (2) had five to ten years to live, and (3) what you would regret if you had 24 hours to live. • Phase Three examines something often overlooked or skipped in the planning process: external and internal Obstacles to the plan. • In Phase Four, Knowledge, the planner takes the lead in integrating his or her financial expertise with the life plan. • Phase Five is the final phase. Execution, in which the planner ensures the plan is brought to fruition. INSETS: Executive Summary;Case Study: Bill and Sarah in the Obstacles Phase;Case Study: Bill and Sarah in the Knowledge Phase;Case Study: Bill and Sarah in the Execution Phase


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