Why Plans Fail
Reason # 1: There's too much information and boilerplate that doesn't apply to you.
We’ve seen some plans over 100 pages in length! And most of this excess “filler” has nothing to do with your situation; they all look the same. At this point, the financial plan becomes complex and unwieldy. And when people get overwhelmed, they do nothing.
OUR SOLUTION:
With our team at The SMITH Group @ BAIRD, your plans our focused on you and your situation. We can give you as much detail as you like, but we also provide a tailored executive summary for you in a format that is short, clear, and concise. We help you focus on the things that most important for your situation.
Reason #2: Motivation is fleeting, but real solutions take time and concerted effort.
When people are motivated to write a plan, they immerse themselves in a flurry of activity. However, as time goes by, the motivation isn’t as strong anymore. After a month or two, it’s nonexistent. So, your problems aren’t solved because your solutions aren’t implemented or tracked. Ever notice how gyms and fitness clubs are packed in the first few weeks of January and then thin out by Valentine’s Day?
OUR SOLUTION:
With our team at The SMITH Group @ BAIRD, our plans are not the end; they’re the beginning of our work for you and we help keep you on track over time. We work with you on an ongoing basis to keep you focused on your goals and make it easy for you to take appropriate action throughout your life.
Reason #3: There are no clear next steps to solve problems or point you in the right direction.
In many cases, clients don’t carry out the plan because they don’t know WHAT to do or HOW to do it. What are your highest priorities? What should you do first? How do you move forward?
OUR SOLUTION:
With our team at The SMITH Group @ BAIRD, our planning process provides clear priority-driven action steps, and we track these steps continuously for you. We make sure all your issues are addressed.
Reason #4: There is no partnership and mutual accountability.
In many cases, the Advisor writes a plan...and then moves on. There is no follow-up to help clients be accountable to follow through on what they need to do. Without continuous partnership the recommendations remain just that – recommendations, but no action. Without taking appropriate action, no issues are resolved, and the plan has no value.
OUR SOLUTION:
With our team at The SMITH Group @ BAIRD, our plans are reinforced by our ongoing review process and commitment to you. Some solutions we recommend take time to implement. We stay with you every step of the way to make sure your issues are addressed now and in the future. We know your planning is a process that takes place over time, it’s not just a piece of paper.
Reason #5: A Financial Plan without updates isn’t a Plan at all – it becomes an antique that just gathers dust on a shelf.
It is said that the only constant in life is change. Not only for the markets, but your life as well. These events in your life have tremendous bearing on your success and security. Ask yourself: In the past 10 years, has EVERTHING in your life happened EXACTLY as expected? Would a 10-year-old plan give you the right guidance today?
OUR SOLUTION:
With our team at The SMITH Group @ BAIRD, your plan is your personal dynamic record that can be adapted quickly to your changing needs. We can update your plan for you with every review and phone call. We can also run “what-if” scenarios into the future for you to explore your other options any time you like. Your plan adds tremendous value when something unexpected occurs in your life because you always have an up-to-date reference to work from and then find new solutions.
With your plan, you can track your results in real time on through our BAIRD ONLINE Website (here’s a sample of what the summary would look like) -->
With our team at The SMITH Group @ BAIRD, a well-established and maintained plan will help you define, monitor and reach for your goals. Our Team is committed to being with you every step of the way for all life events, expected or unexpected.