( 7 reviews )
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Posted: Jan 23 2009
Half of the information in this book could be applied to anybody looking to start a small business. The other half is a rather general explanation of the processes that financial planners need to serve their clients. A few examples of documentation used by financial planners such as client questionnaires may interest newbies. One would be better off getting a book devoted to financial planning of which there are few of any quality and a book devoted to guiding aspiring small business owners. I just don't see how anyone could read this book and be any closer to being a competent financial planner.
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( 1 of 1 found this review helpful ) Posted: May 8 2008
I was hoping for more of a step by step guide toward opening your own office. I've been in practice with a major firm for years and often dream of my own office. this book didn't help at all. truthfully there was more useful free information on the web. look elsewhere if you are in the same boat as me.
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( 9 of 10 found this review helpful ) Posted: Mar 30 2007
Bottom line up front - you will not gain a top down view of the industry, the understanding of the types of businesses within it, or the nitty gritty of the components needed to do financial planning or run the business. From the other reviews, most that liked this book didn't have much perspective in this category. I've bought a number of books to familiarize myself with the financial planning industry before setting off on an educational track. This book has been my only complete disappointment. I'm sure Mr. Rattiner knows his business, but this book does not serve any particular purpose. The scope is too broad and the depth of analysis to shallow to be helpful. No one will "Get Started" in one book. Many parts of the book are more like bulleted/paragraphed lists which can't possibly reveal the extent of the author's knowledge on any of the topics. Other parts skim through the technical parts of financial planning (e.g. types of life insurance policies) which have to be learned later in official certification courses. The aspects of running a small business he mentions don't reveal anything significant or truly specific to this type of business - you could get as much from a good article on the subject. If you have not yet read anything on the industry, try In Search Of The Perfect Model which gives an excellent overview of very successful and inspiring corporate visions of real financial planning businesses from sole practitioners to regional firms. An alternate bottom-up book which does not sugar coat anything and will specifically point you toward further research in a variety of areas is So You Want To Be A Financial Planner. If you are looking for how the business should be structured for financial success under any model, Practice Makes Perfect written by industry consultants (no "this worked for me" bias) is phenomenal. For office operations, Virtual Office Tools for a High Margin Practice will get your mind spinning with what technology can do for you as a planner. For marketing, I recommend The Brand Called You which gets down to what weight of card stock you should have for mailings. Sure it's better than nothing but...
