Financial Life Planning: You've Got the Spirit

Diliberto, Roy; Anthony, Mitch
March 2003
Journal of Financial Planning;Mar2003, Vol. 16 Issue 3, p36
Academic Journal
This article discusses the approach that should be taken by financial planners in the U.S. with regards to practicing financial life planning. According to the authors, financial planners need to cover the four cornerstones in the qualitative inquiry: history, current transitions, goals and principles, and values. To do a consistent job, they need a disciplined set of questions for understanding each of these cornerstones. The authors believe that financial life planning and merging clients' money with their lives is so critical that it shouldn't be left to a random tour, chance of intuitive response alone. Just as planners have a system for collecting quantitative data, they need a process that helps them learn what's important in their clients' lives, their relationship with money, their money history, and how money affects their life transitions and what tangibles and intangibles they want that money to provide.


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