FINDING FINANCIAL FULFILLMENT for a Life filled with money ...

LIFE MAPPING– LIFE MAPPING–

Using Mind Mapping to Create a Using Mind Mapping to Create a Vision for Your Business and Your Vision for Your Business and Your

LifeLife

Presented By:

Janet Tyler Johnson, CFP®President, JATAJ Wealth Advisors Network

&Gary D. Davis, Jr.

President, Beneficial Concepts Group

AgendaAgenda• Introduction to Mind Mapping

• Using Mind Mapping to construct a forward looking business/strategic vision

• Building your own Mind Map (interactive)

• Using Mind Mapping to brain storm process to support a firms forward looking business/strategic vision

• Building a process for your firm (interactive)

• Using Mind Mapping to create a vision for your life

• Value of process and how it will support your business/strategic and life vision

• Questions

Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email protected] -- www.jataj.com

mailto:[email protected]

What is Mind Mapping?What is Mind Mapping?

• Tony Buzan, author of The Mind Map Book , created Mind Mapping

• Mind Mapping is a form of brainstorming that uses both the right and left sides of the brain



What Can Mind What Can Mind MappingMapping Do Do??

• Mirror and magnify your brain’s pattern of perception and association in the way you learn, think and create

• Quickly master the right way to take notes, organize a speech, a writing assignment, a report

• Join with others to pool thinking productively, memorize a mammoth amount of data, free your ideas to grow and expand constantly in depth and dimension

Source: The Mind Map® Book, by Tony Buzan



What Does a Mind Map Look Like?What Does a Mind Map Look Like?



Examples of Mind Maps – Examples of Mind Maps – Forms of WaterForms of Water

Source: www.studygs.netSource: www.studygs.net



More Examples – The More Examples – The French RevolutionFrench Revolution

Source: www.studygs.net Source: www.studygs.net



Artistic ExampleArtistic Example Source: http://en.wikipedia.org/wiki/Image:Guru_Mindmap.jpgSource: http://en.wikipedia.org/wiki/Image:Guru_Mindmap.jpg



How is Mind Mapping How is Mind Mapping Used in a Financial Used in a Financial Planning Practice?Planning Practice?



To Create Your VisionTo Create Your Vision



What Will Your Ideal What Will Your Ideal Business Look LikeBusiness Look Like

• What does your Ideal Business look like 5 years from now (or 2 years or 10 years, depending on where you are today)



Create Your PictureCreate Your Picture

• Where do you work? An office? Multiple locations? Anywhere, anytime, from any place?

• Are you a small firm with virtual employees, or a large firm with multiple professionals, or something else?

• Do you own your own office building, or work from a gorgeous office at home?



Think BIG!!!Think BIG!!!

• This is your IDEAL BUSINESS we are talking about

• Let’s create a MIND MAP of your vision for your business



Using Mind Mapping to Document Workflow Using Mind Mapping to Document Workflow ProcessProcess

2009 Beneficial Concepts Group, LLC


• Document/map out your forward looking business/strategic vision

• Meet with staff, map out the process needed to support the forward looking business/strategic vision


What is “Process”?What is “Process”?

• Definition of Process:


Prospecting WorkflowsProspecting Workflows

• Prospect meeting scheduling process

• Prospect meeting preparation process

• Internal initial document generation process (agreements/regulatory documents)

• Prospect meeting summary process

• Follow up/closing process

• Compliance management testing process


Initial Financial Planning WorkflowsInitial Financial Planning Workflows

• Initial financial planning meeting scheduling process

• Initial questionnaire generation and client document request process

• Initial financial planning meeting preparation process

• Initial financial planning meeting summary process

• Final initial financial plan generation process

• On-going financial plan agreement generation process

• Billing process

• Implementation and monitoring process



Initial Investment Management WorkflowsInitial Investment Management Workflows

• Initial IPS generation and approval process• New account process• Account transfer process• Initial account rebalancing process• Scheduling quarterly/semi-annual/annual investment

management review phone calls or meetings• Cost Basis Process• Initial performance report process• Initial billing process• Compliance management testing process


On-going Financial Planning WorkflowsOn-going Financial Planning Workflows

• On-going financial planning meeting scheduling process

• On-going questionnaire generation and client document request process

• On-going financial planning meeting preparation process

• On-going financial planning meeting summary process

• Final On-going financial plan generation process

• On-going financial plan agreement review/amendment process

• Billing process

• Implementation and monitoring process

• Financial planning client termination process



On-going Investment Management WorkflowsOn-going Investment Management Workflows

• IPS review and approval process

• Account maintenance process

• Qualified retirement plan contribution/distribution tracking

• RMD calculation and distribution tracking

• Taxable account contribution/distribution tracking

• Trading process

• Account rebalancing process

• Scheduling quarterly/semi-annual/annual investment management review phone calls or meetings


On-going Investment Management WorkflowsOn-going Investment Management Workflows

• Performance report process

• Annual regulatory document generation and tracking process

• Investment management agreement review/amendment process

• Billing process

• Investment management client termination process



Investment Research WorkflowsInvestment Research Workflows

• Management performance reporting process

• Management AUM reporting process

• Sample investment report/model performance process

• Investment committee/team process

- Agenda process

- Investment product due diligence process

- Investment manager due diligence process

- Model review process

- Approved investment selection tracking process

- Watch list investment selection tracking process

- Hold investment selection tracking process

• Investment newsletter process


Administrative/Business Management WorkflowsAdministrative/Business Management Workflows

• Annual business planning meeting process

• Annual budgeting process

• New employee hire/termination process

• Prospecting packet material review and generation process

• Center of influence packet material review and generation process

• Employee handbook process

• Employee performance review and bonus process

• Management meeting process


Administrative/Business Management WorkflowsAdministrative/Business Management Workflows

• Staff meeting process

• Office supply process

• Technology review process

• Payroll/Employee benefit review process

• Website management process

• Staff cross training process


Regulatory Compliance Management WorkflowsRegulatory Compliance Management Workflows

• Annual amendment process

• Compliance manual testing and documentation process

• BCP/DRP manual testing and documentation process

• Compliance meeting process


Sample Mind MapSample Mind Map


Sample Initial Financial Planning ProcedureSample Initial Financial Planning Procedure


Team Member Accountable for Procedure: Associate Planner Review Dates: March 31 June 30 September 30 December 31 Action Due Date Person

Accountable 1 Initial financial plan agreement (IFPA) signed and

received in office along with initial financial planning fee deposit

President

1A Provide initial financial planning fee deposit check

to Office Administrator Same day

initial financial planning fee deposit received

Client Service Associate

2 Schedule all 4 initial financial planning meetings

and final review meeting. Meetings are 2 hours long and should be scheduled within 1 week of each other. Meetings are normally scheduled in offices. The first initial financial planning meeting should be scheduled 8 weeks from the date of scheduling call.

Within 2 business days of IFPA signed and received


2A Notify all staff via e-mail that Initial financial plan

agreement received and dates for 4 initial financial planning meeting and final review meeting scheduled

Within 2 business days of IFPA signed and received




Creating a VisionCreating a Vision For Your Life For Your Life

Where Do We Start?



The “Three Questions*”The “Three Questions*” (I use these with clients -- let’s (I use these with clients -- let’s

try it, it’s easy!)try it, it’s easy!)


*Based on George Kinder’s “Three Questions” from his book, The Seven Stages of Money Maturity


1. You win $100 Million in the lottery;1. You win $100 Million in the lottery;What would you do with the money? What would What would you do with the money? What would

you change in your life? What would you do you change in your life? What would you do differently?differently?



2. If you knew you had only 2. If you knew you had only fivefive years left to live, years left to live, symptom free, what symptom free, what wouldwould you change in your life? you change in your life?



3. If you found you had only 24 hours left to live, 3. If you found you had only 24 hours left to live, what would you REGRET not having done, had or what would you REGRET not having done, had or

been in your life?been in your life?



Creating a Vision Creating a Vision For Your LifeFor Your Life



The Value of ProcessThe Value of Process


The Value of ProcessThe Value of Process• Allows for the proactive management and measurement of the

firms forward looking business/strategic vision• Allows owners/manager/staff to implement and manage there

life map• Allows for efficient delegation without “micro management”• Allows owners/managers to focus on there primary job function• Provides the metric to hire or terminate staff• Measures effectiveness of firms technology• Empowers staff/allows them to “own” their work• Allows firm to provide a consistent “touch and feel” to clients


The Value of ProcessThe Value of Process• Assist with writing marketing content• Cross training• Business continuity• Firm becomes more valuable and scalable • Supports succession planning (either sale or buy out by junior

member)• Assist with regulatory compliance


Janet Tyler Johnson, CFP®, RFC®President

JATAJ Wealth Management, LLC JATAJ Life Planning, LLC

JATAJ Wealth Advisors Network, LLCN8813 Badger Road, Blanchardvil le, WI 53516

608-219-0113 * www.jataj .com * jt johnson@jataj .com

Author of “Finding Financial Fulfillment, for a Life Filled with Money and Meaning”Janet is living the life of her dreams – she can help you and your clients do the same!

* * * * * * * * *

Gary D. Davis JrPresident

Beneficial Concepts Group90 Featherbed Road, Stockton, NJ 08559

866-901-0243 * [email protected]

Beneficial is an Operations Management Consulting Firm working exclusively with Financial Planners and Investment Advisors to implement and monitor process and

efficency

http://www.jataj.com/


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