I have written before aboutworking with Generation Y clients, but I believe there is a subset of Generation Y who will never work with a planner in any traditional, face-to-face way. I'm clearly not the only one who thinks this; an array of Web-based companies now (or will soon)offer virtual planningat reduced costs.
A similar approach is being adopted in other professions as well. In progressive schools, teachers are assigning learning videos for homework, in which teachers present the content for the next days class. Then during class time, students will apply that knowledge and work on problems, with assistance from their teacher.
Can the financial planning profession adopt this model as well? I am testing a version of this in my practice. I haveamedia suitethat lets users purchase individual videos to address their specific needs. In these videos, each 25-35 minutes long, I cover topics including college planning, investment and retirement planning, and insurance evaluation.
They are meant for people who are comfortable doing their own planning, want to receive information on their own time and like learning from video sessions.
If these viewers still have problems, they can hire me on an hourly contract to work through specific areas.
Recently, I got my first video customers, who purchased a segment on investment and retirement planning. As part of my follow-up, I will make them aware that I am available to help with any problems that arent addressed by the video.
The one thing that makes me smile as a business owner is that I do not have to put any effort into making these sales. Heres to many more purchases!
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