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

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

  1. 1. LIFE MAPPING– Using Mind Mapping to Create a Vision for Your Business and Your Life Presented By: Janet Tyler Johnson, CFP® President, JATAJ Wealth Advisors Network & Gary D. Davis, Jr. President, Beneficial Concepts Group
  2. 2. Agenda <ul><li>Introduction to Mind Mapping </li></ul><ul><li>Using Mind Mapping to construct a forward looking business/strategic vision </li></ul><ul><li>Building your own Mind Map (interactive) </li></ul><ul><li>Using Mind Mapping to brain storm process to support a firms forward looking business/strategic vision </li></ul><ul><li>Building a process for your firm (interactive) </li></ul><ul><li>Using Mind Mapping to create a vision for your life </li></ul><ul><li>Value of process and how it will support your business/strategic and life vision </li></ul><ul><li>Questions </li></ul>Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email_address] -- www.jataj.com
  3. 3. What is Mind Mapping? <ul><li>Tony Buzan, author of The Mind Map Book , created Mind Mapping </li></ul><ul><li>Mind Mapping is a form of brainstorming that uses both the right and left sides of the brain </li></ul>Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email_address] -- www.jataj.com
  4. 4. What Can Mind Mapping Do ? <ul><li>Mirror and magnify your brain’s pattern of perception and association in the way you learn, think and create </li></ul><ul><li>Quickly master the right way to take notes, organize a speech, a writing assignment, a report </li></ul><ul><li>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 </li></ul><ul><li>Source: The Mind Map® Book, by Tony Buzan </li></ul>Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email_address] -- www.jataj.com
  5. 5. What Does a Mind Map Look Like? Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email_address] -- www.jataj.com
  6. 6. Examples of Mind Maps – Forms of Water Source: www.studygs.net Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email_address] -- www.jataj.com
  7. 7. More Examples – The French Revolution Source: www.studygs.net Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email_address] -- www.jataj.com
  8. 8. Artistic Example Source: http://en.wikipedia.org/wiki/Image:Guru_Mindmap.jpg Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email_address] -- www.jataj.com
  9. 9. How is Mind Mapping Used in a Financial Planning Practice? Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email_address] -- www.jataj.com
  10. 10. To Create Your Vision Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email_address] -- www.jataj.com
  11. 11. What Will Your Ideal Business Look Like <ul><li>What does your Ideal Business look like 5 years from now (or 2 years or 10 years, depending on where you are today) </li></ul>Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email_address] -- www.jataj.com
  12. 12. Create Your Picture <ul><ul><li>Where do you work? An office? Multiple locations? Anywhere, anytime, from any place? </li></ul></ul><ul><ul><li>Are you a small firm with virtual employees, or a large firm with multiple professionals, or something else? </li></ul></ul><ul><ul><li>Do you own your own office building, or work from a gorgeous office at home? </li></ul></ul>Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email_address] -- www.jataj.com
  13. 13. Think BIG!!! <ul><li>This is your IDEAL BUSINESS we are talking about </li></ul><ul><li>Let’s create a MIND MAP of your vision for your business </li></ul>Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email_address] -- www.jataj.com
  14. 14. Using Mind Mapping to Document Workflow Process  2009 Beneficial Concepts Group, LLC
  15. 15. Using Mind Mapping to Document Workflow Process <ul><li>Document/map out your forward looking business/strategic vision </li></ul><ul><li>Meet with staff, map out the process needed to support the forward looking business/strategic vision </li></ul> 2009 Beneficial Concepts Group, LLC
  16. 16. What is “Process”? <ul><li>Definition of Process: </li></ul> 2009 Beneficial Concepts Group, LLC
  17. 17. Prospecting Workflows <ul><li>Prospect meeting scheduling process </li></ul><ul><li>Prospect meeting preparation process </li></ul><ul><li>Internal initial document generation process (agreements/regulatory documents) </li></ul><ul><li>Prospect meeting summary process </li></ul><ul><li>Follow up/closing process </li></ul><ul><li>Compliance management testing process </li></ul> 2009 Beneficial Concepts Group, LLC
  18. 18. Initial Financial Planning Workflows <ul><li>Initial financial planning meeting scheduling process </li></ul><ul><li>Initial questionnaire generation and client document request process </li></ul><ul><li>Initial financial planning meeting preparation process </li></ul><ul><li>Initial financial planning meeting summary process </li></ul><ul><li>Final initial financial plan generation process </li></ul><ul><li>On-going financial plan agreement generation process </li></ul><ul><li>Billing process </li></ul><ul><li>Implementation and monitoring process </li></ul><ul><li>Compliance management testing process </li></ul> 2009 Beneficial Concepts Group, LLC
  19. 19. Initial Investment Management Workflows <ul><li>Initial IPS generation and approval process </li></ul><ul><li>New account process </li></ul><ul><li>Account transfer process </li></ul><ul><li>Initial account rebalancing process </li></ul><ul><li>Scheduling quarterly/semi-annual/annual investment management review phone calls or meetings </li></ul><ul><li>Cost Basis Process </li></ul><ul><li>Initial performance report process </li></ul><ul><li>Initial billing process </li></ul><ul><li>Compliance management testing process </li></ul> 2009 Beneficial Concepts Group, LLC
  20. 20. On-going Financial Planning Workflows <ul><li>On-going financial planning meeting scheduling process </li></ul><ul><li>On-going questionnaire generation and client document request process </li></ul><ul><li>On-going financial planning meeting preparation process </li></ul><ul><li>On-going financial planning meeting summary process </li></ul><ul><li>Final On-going financial plan generation process </li></ul><ul><li>On-going financial plan agreement review/amendment process </li></ul><ul><li>Billing process </li></ul><ul><li>Implementation and monitoring process </li></ul><ul><li>Financial planning client termination process </li></ul><ul><li>Compliance management testing process </li></ul> 2009 Beneficial Concepts Group, LLC
  21. 21. On-going Investment Management Workflows <ul><li>IPS review and approval process </li></ul><ul><li>Account maintenance process </li></ul><ul><li>Qualified retirement plan contribution/distribution tracking </li></ul><ul><li>RMD calculation and distribution tracking </li></ul><ul><li>Taxable account contribution/distribution tracking </li></ul><ul><li>Trading process </li></ul><ul><li>Account rebalancing process </li></ul><ul><li>Scheduling quarterly/semi-annual/annual investment management review phone calls or meetings </li></ul> 2009 Beneficial Concepts Group, LLC
  22. 22. On-going Investment Management Workflows <ul><li>Performance report process </li></ul><ul><li>Annual regulatory document generation and tracking process </li></ul><ul><li>Investment management agreement review/amendment process </li></ul><ul><li>Billing process </li></ul><ul><li>Investment management client termination process </li></ul><ul><li>Compliance management testing process </li></ul> 2009 Beneficial Concepts Group, LLC
  23. 23. Investment Research Workflows <ul><li>Management performance reporting process </li></ul><ul><li>Management AUM reporting process </li></ul><ul><li>Sample investment report/model performance process </li></ul><ul><li>Investment committee/team process </li></ul><ul><li>- Agenda process </li></ul><ul><li>- Investment product due diligence process </li></ul><ul><li>- Investment manager due diligence process </li></ul><ul><li>- Model review process </li></ul><ul><li>- Approved investment selection tracking process </li></ul><ul><li>- Watch list investment selection tracking process </li></ul><ul><li>- Hold investment selection tracking process </li></ul><ul><li>Investment newsletter process </li></ul> 2009 Beneficial Concepts Group, LLC
  24. 24. Administrative/Business Management Workflows <ul><li>Annual business planning meeting process </li></ul><ul><li>Annual budgeting process </li></ul><ul><li>New employee hire/termination process </li></ul><ul><li>Prospecting packet material review and generation process </li></ul><ul><li>Center of influence packet material review and generation process </li></ul><ul><li>Employee handbook process </li></ul><ul><li>Employee performance review and bonus process </li></ul><ul><li>Management meeting process </li></ul> 2009 Beneficial Concepts Group, LLC
  25. 25. Administrative/Business Management Workflows <ul><li>Staff meeting process </li></ul><ul><li>Office supply process </li></ul><ul><li>Technology review process </li></ul><ul><li>Payroll/Employee benefit review process </li></ul><ul><li>Website management process </li></ul><ul><li>Staff cross training process </li></ul> 2009 Beneficial Concepts Group, LLC
  26. 26. Regulatory Compliance Management Workflows <ul><li>Annual amendment process </li></ul><ul><li>Compliance manual testing and documentation process </li></ul><ul><li>BCP/DRP manual testing and documentation process </li></ul><ul><li>Compliance meeting process </li></ul> 2009 Beneficial Concepts Group, LLC
  27. 27. Sample Mind Map  2009 Beneficial Concepts Group, LLC
  28. 28. Sample Initial Financial Planning Procedure  2009 Beneficial Concepts Group, LLC
  29. 29. Using Mind Mapping to Document Workflow Process  2009 Beneficial Concepts Group, LLC
  30. 30. Creating a Vision For Your Life Where Do We Start? Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email_address] -- www.jataj.com
  31. 31. The “Three Questions*” (I use these with clients -- let’s try it, it’s easy!) Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email_address] -- www.jataj.com *Based on George Kinder’s “Three Questions” from his book, The Seven Stages of Money Maturity
  32. 32. 1. You win $100 Million in the lottery; What would you do with the money? What would you change in your life? What would you do differently? Copyright © 2008 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email_address] -- www.jataj.com
  33. 33. 2. If you knew you had only five years left to live, symptom free, what would you change in your life? Copyright © 2008 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email_address] -- www.jataj.com
  34. 34. 3. If you found you had only 24 hours left to live, what would you REGRET not having done, had or been in your life? Copyright © 2008 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email_address] -- www.jataj.com
  35. 35. Creating a Vision For Your Life Copyright © 2009 JATAJ. All rights reserved -- Janet Tyler Johnson, CFP® -- [email_address] -- www.jataj.com
  36. 36. The Value of Process  2009 Beneficial Concepts Group, LLC
  37. 37. The Value of Process <ul><li>Allows for the proactive management and measurement of the firms forward looking business/strategic vision </li></ul><ul><li>Allows owners/manager/staff to implement and manage there life map </li></ul><ul><li>Allows for efficient delegation without “micro management” </li></ul><ul><li>Allows owners/managers to focus on there primary job function </li></ul><ul><li>Provides the metric to hire or terminate staff </li></ul><ul><li>Measures effectiveness of firms technology </li></ul><ul><li>Empowers staff/allows them to “own” their work </li></ul><ul><li>Allows firm to provide a consistent “touch and feel” to clients </li></ul> 2009 Beneficial Concepts Group, LLC
  38. 38. The Value of Process <ul><li>Assist with writing marketing content </li></ul><ul><li>Cross training </li></ul><ul><li>Business continuity </li></ul><ul><li>Firm becomes more valuable and scalable </li></ul><ul><li>Supports succession planning (either sale or buy out by junior member) </li></ul><ul><li>Assist with regulatory compliance </li></ul> 2009 Beneficial Concepts Group, LLC
  39. 39. Janet Tyler Johnson, CFP®, RFC® President JATAJ Wealth Management , LLC JATAJ Life Planning , LLC JATAJ Wealth Advisors Network , LLC N8813 Badger Road, Blanchardville, WI 53516 608-219-0113 * www.jataj.com * [email_address] aj.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 Jr President Beneficial Concepts Group 90 Featherbed Road, Stockton, NJ 08559 866-901-0243 * www.beneficialconceptsgroup.com [email_address] Beneficial is an Operations Management Consulting Firm working exclusively with Financial Planners and Investment Advisors to implement and monitor process and efficency

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