I designed a potential financial planning practice structure a year or so ago. It has been my backup plan if Radical Personal Finance were unable to be financially productive. (It's probably still a backup of a backup.)

In light of the Episode 139: "My Advice for People Interested In Getting Into Financial Planning," I decided to follow up with some specific ideas for a practice I considered creating.

Here are my ideas. 

The show includes a discussion of:

• The problem of providing planning for middle-income households
• The idea of a planning model for a monthly fee
• How to align advisor and client incentives
• The benefits of a virtual financial planning meeting
• The importance of having a clear marketing plan for your practice
• Ideas for building trust
• The importance of demonstrating expertise
• The importance of a niche market focus
• Limitations on income with this model

Enjoy the show!

Links:

• XY Planning Network