In this episode, Libby explores one of the most common sources of friction inside advisory firms: the homework advisors give their clients. While assigning tasks like uploading statements, linking accounts, or completing paperwork may seem efficient from the advisor’s perspective, it often slows the process down and creates frustration for clients who already have full, busy lives. Libby shares practical examples from her own firm and her First 100 Days onboarding framework to explain why client homework creates drag in the planning process and how advisors can redesign their workflows to make doing business easier for clients.

Why assigning homework to clients often creates friction that slows down onboarding, data gathering, and implementation
How advisors accidentally ask clients to solve the very problem they hired an advisor to help with—getting organized
Practical ways to reduce friction in the data-gathering process, including simplifying checklists, removing unnecessary requests, and hosting a guided “get organized” meeting
How scheduling tasks like application paperwork, account setup, and onboarding steps with clients can dramatically speed up implementation and improve the overall client experience

Ultimately, reducing friction is not just about creating a better experience for clients—it also leads to a more efficient business for advisors. When advisors help clients complete tasks together instead of assigning them homework, processes move faster, information becomes more accurate, and clients feel more supported throughout the planning journey.

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352: Stop Assigning Client Homework: A Better Way to Gather Data and Move Plans Forward Faster

The Efficient Advisor: Tactical Business Advice for Financial Planners