Today I'm joined by Liz Plot, the Founder of Primas Financial Planning. After spending 10 years as a financial coach for members of the military, Liz made the decision to start her own firm. If you think you might be an accidental entrepreneur, this is an episode you won’t want to miss!
Listen in as we discuss the differences between financial planning, financial coaching, and financial counseling, as well as the struggle that Liz had being rejected by employers early on due to her need for a virtual position. You'll also hear about her experience working at a virtual firm as a client services associate before becoming a lead planner, why she left that role to start her own firm, the challenges she faced in the first few months of starting her firm, and tips for new planners.
What You'll Learn In Today's Episode:
- How Liz got started in financial planning. (1:50)
- What the application process for a virtual role at an RIA firm was like and the challenges Liz faced. (5:00)
- What Liz’s first role consisted of. (7:00)
- The difference between an associate planner and a lead planner. (8:20)
- Why Liz decided to start her own firm. (11:30)
- The model she uses at her firm. (14:30)
- How she is able to charge enough while also helping those who need it most. (18:30)
- The toughest part about being an entrepreneur. (22:10)
Ideas Worth Sharing:“If they were willing to accept the help, it was a lot easier to get that message through.” - Liz Plot Click To Tweet “Sometimes having that personal connection can make a bigger difference.” - Liz Plot Click To Tweet “When you have lots of credentials behind your name, you start to get listed on different websites.” - Liz Plot Click To Tweet
Resources In Today's Episode:
In this roadmap, you'll be guided through the details of various stages of your financial planner career, including position descriptions, licensing, skill and experience level requirements, and compensation ranges.
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