THE PERFECT RIA
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What You'll Learn In Today's Episode:

  • The Value of Expertise Over Tools. Just as relying solely on software for financial planning is inadequate, expertise and understanding are essential.
  • Critical Thinking and Verification. Overreliance on software can lead to blind trust, preventing one from recognizing when an answer is incorrect.
  • Communication is Key. Even the best software is meaningless if it cannot be translated into understandable insights for clients.
  • Personalization and Actionable Insights. A valuable financial plan must be tailored to each client’s needs and include actionable steps.
  • Balance and Efficiency. While thoroughness is vital, spending excessive time on each client is impractical.
Table of Contents

In today’s episode, Matt and Micah talk about the intricacies of tax projections and financial planning and the vital role of human expertise and critical thinking.  While software can aid the process, it cannot replace the skills of a skilled financial planner, and, unfortunately, relying solely on software can lead to inaccurate results and a lack of awareness of potential errors. They’ll also stress the importance of effective communication, asserting that even the most sophisticated software is useless if clients cannot grasp its implications.

Ideas Worth Sharing:

‘When we rely too much on software for an answer, you don't know when it's wrong.’ - Micah Shilanski Share on X ‘There's this idea that somehow the software can take the place of being a really good financial planner.’ - Matthew Jarvis Share on X ‘You should be able to do a tax projection without any software because that's how you're gonna find the mistakes.’ - Micah Shilanski Share on X

Resources In Today's Episode:

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