Financial Advisor Success Ep 167: Creating More Buy-In To Change Financial Behaviors With A Life Planning Approach With Scott Frank
Mar 10, 2020
Scott Frank, founder of Stone Steps Financial and a CFP/CFA who uses George Kinder’s life-planning approach. He explains using evocative questions and a three-meeting EVOC structure to uncover clients’ true priorities. Short meetings turn visions into concrete plans, surface obstacles, and bridge feelings to financial math. He also covers pricing, growth tactics, and building a values-led advisory practice.
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Do Traditional Financial Math Only After Visioning
- Integrate traditional planning only after EVOC: Knowledge meeting then becomes targeted math tied to the client's vision.
- Scott uses survive versus thrive lens to separate essentials from purposeful 'thrive' moves like career shifts.
Show Projections Only When They Matter
- Use detailed planning software like eMoney for clients near transitions; skip deep projections for younger clients where outcomes are speculative.
- Scott shows projections when timing and retirement decisions materially matter.
Bill 1% Of Investable Assets And Reprice Every Two Years
- Charge a single percent of investable assets (1% up to $3M) and include all investable accounts to avoid AUM conflicts.
- Lock pricing for two years and adjust biennially to simplify billing and avoid chasing short-term valuation swings.