We often hear about the soft side of planning. As Lisa Featherngill, CPA/PFS, shares in this episode of the PFP Section podcast, this is really the hard side of planning. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews Lisa to get her thoughts on how to have important conversations that lead to whether the quantitative side of planning will be successful or not. The stakes are high and it’s important to guide clients to communicate in a way that gets underneath the numbers to the meaning of the wealth. Lisa and Bob discuss:

What is the qualitative side of planning?
What is the number one reason why families lose control of assets and family unity by the third generation?
What can we do to encourage clients to have these conversations?
Are there tools that can be used to make it more comfortable for advisors and clients?
What gets in the way of having these important discussions and how can we overcome this?
What does all of this have to do with AI?

For more resources related to this episode:

Join the January 2024 PFP Summit where we dive deeper into the soft (aka hard) side of planning for ourselves, our clients, and our businesses.
The books mentioned by Lisa are Preparing Heirs: Five Steps to a Successful Transition by Roy Williams and Vic Preisser, Strangers in Paradise by James Grubman, and Bridging Generations by Roy Williams and Amy Castoro.
Find Bob’s decisions charts in our Proactive Planning Toolkit.

This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy, and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

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How to address the qualitative (aka hard) side of planning {PFP Section}

AICPA Personal Financial Planning (PFP)