finding financial fulfillment for a life filled with money
TRANSCRIPT
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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
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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
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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
Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email protected] -- www.jataj.com
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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
Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email protected] -- www.jataj.com
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What Does a Mind Map Look Like?What Does a Mind Map Look Like?
Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email protected] -- www.jataj.com
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Examples of Mind Maps – Examples of Mind Maps – Forms of WaterForms of Water
Source: www.studygs.netSource: www.studygs.net
Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email protected] -- www.jataj.com
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More Examples – The More Examples – The French RevolutionFrench Revolution
Source: www.studygs.net Source: www.studygs.net
Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email protected] -- www.jataj.com
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Artistic ExampleArtistic Example Source: http://en.wikipedia.org/wiki/Image:Guru_Mindmap.jpgSource: http://en.wikipedia.org/wiki/Image:Guru_Mindmap.jpg
Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email protected] -- www.jataj.com
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How is Mind Mapping How is Mind Mapping Used in a Financial Used in a Financial Planning Practice?Planning Practice?
Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email protected] -- www.jataj.com
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To Create Your VisionTo Create Your Vision
Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email protected] -- www.jataj.com
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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)
Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email protected] -- www.jataj.com
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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?
Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email protected] -- www.jataj.com
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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
Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email protected] -- www.jataj.com
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Using Mind Mapping to Document Workflow Using Mind Mapping to Document Workflow ProcessProcess
2009 Beneficial Concepts Group, LLC
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Using Mind Mapping to Document Workflow Using Mind Mapping to Document Workflow ProcessProcess
• 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
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What is “Process”?What is “Process”?
• Definition of Process:
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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
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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
• Compliance management testing process
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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
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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
• Compliance management testing process
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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
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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
• Compliance management testing process
2009 Beneficial Concepts Group, LLC
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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
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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
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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
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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
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Sample Mind MapSample Mind Map
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Sample Initial Financial Planning ProcedureSample Initial Financial Planning Procedure
2009 Beneficial Concepts Group, LLC
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
Client Service Associate
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
Client Service Associate
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Using Mind Mapping to Document Workflow Using Mind Mapping to Document Workflow ProcessProcess
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Creating a VisionCreating a Vision For Your Life For Your Life
Where Do We Start?
Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email protected] -- www.jataj.com
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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!)
Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email protected] -- www.jataj.com
*Based on George Kinder’s “Three Questions” from his book, The Seven Stages of Money Maturity
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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?
Copyright © 2008 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email protected] -- www.jataj.com
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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?
Copyright © 2008 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email protected] -- www.jataj.com
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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?
Copyright © 2008 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email protected] -- www.jataj.com
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Creating a Vision Creating a Vision For Your LifeFor Your Life
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The Value of ProcessThe Value of Process
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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
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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
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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