The Perfect RIA The Software Dilemma in Financial Planning [Episode 342]
Jan 5, 2026
Micah and Matt delve into the crucial role of foundational principles in financial planning. They critique the industry's reliance on software, urging advisors to grasp its limitations and understand outputs, rather than seeing it as a magic tool. There's a call to return to basics, such as manually filling out tax returns to master the process. The duo emphasizes that effective financial planning hinges on behavioral management, not just technical details, and shares insights on how custom software should evolve from real needs.
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Overheard Promise To Run A Third Software
- Micah recounts overhearing an advisor promise to 'run the plan through a third software' after a mistake.
- He intervened because adding software after an error insults the client and avoids responsibility.
Review Client-Facing Tax UIs
- Use hands-on experience with consumer software (like TurboTax) to anticipate client questions.
- Review common client interfaces so you can explain warnings and fields proactively.
Delegate Admin To A Vetted Assistant
- Hire a vetted professional assistant to offload admin work and protect your time.
- Use reputable services (Micah recommends Belay) to avoid HR headaches and focus on advisory work.