Benefits of Mind Mapping for Financial Advisors

Get Started. It's Free
or sign up with your email address
Rocket clouds
Benefits of Mind Mapping for Financial Advisors by Mind Map: Benefits of Mind Mapping for Financial Advisors

1. Lay out information in a different way

1.1. Visualize entire financial situation

2. Quickly capture information

2.1. Add links, files, notes

2.2. Everything in a centralized place

3. Involve clients in discovery process

3.1. New clients

3.1.1. First discovery meeting

3.2. Old clients

3.2.1. Rediscovery meeting

4. Clear goals and next steps

4.1. Easy to review and update

5. Workflow

5.1. During your first prospect meeting with the client, create a new mind map

5.1.1. Call it e.g. "John Doe's Finances"

5.2. Ask questions

5.2.1. Assets Real Estate Location Value Human Capital Portfolio investments

5.2.2. Relationships Children Spouse ...

5.2.3. Objectives Fund lifestyle in retirement Become a house owner Fund children's college education

5.3. Map out client's entire financial structure.

5.3.1. Resulting Map

5.4. Review a few months’ worth of bank account statements to pinpoint any troublesome trends, identify a weak spot, like emotional shopping; add those to mind map

5.5. Share mind map with client (viewing rights only)

5.6. Begin your subsequent update meetings with a review of the mind map