When a client first begins working with an advisor, the relationship is often marked with a flurry of onboarding tasks, immediate issues to resolve, and long-term planning goals to establish. However, this heightened activity often settles into a familiar routine over time. And as clients come into monitoring meetings, they may increasingly describe their situation as “fine”, with no pressing issues to address. This can shift the advisor into a more passive role, waiting for significant life events – such as job changes, health issues, or financial setbacks – to reignite the client’s need for engagement. Yet, while “fine” may seem like a signal of stagnation, it can also present an opportunity for the advisor to reengage the client and reinvigorate the relationship by revisiting goals and exploring new possibilities.
This transition is a core element of the “Fix, Fine, Flourish” financial planning framework. In this model, clients begin in the Fix phase, addressing immediate challenges and stabilizing their financial situation. As their primary concerns are resolved, clients enter the Fine phase, where stability is achieved, but the absence of urgent needs may eventually lead to disengagement. However, by encouraging clients to shift their focus from managing the status quo to reimagining their goals and pursuing new aspirations, advisors can guide them into the Flourish phase – where they pursue goals and aspirations beyond the basics of simply maintaining stability.
Monitoring meetings offer a key opportunity for advisors to nudge clients into the Flourish phase. If these meetings focus solely on tracking progress and reviewing financial updates, discussions may start feeling stagnant. Instead, reframing this meeting to discuss evolving goals and holistic life changes can encourage meaningful engagement. Advisors can ask reflective questions, such as “What’s changed in your life since we last met?” or “What changes would make you feel more fulfilled?”, to encourage clients to think beyond their current circumstances and think more about new opportunities for growth.
The beauty of the Flourish phase is that it resets the entire Fix, Fine, Flourish cycle. As clients identify new aspirations, they raise new questions and issues to address, returning them to a new Fix phase to move through the cycle again. This iterative process keeps clients engaged, ensuring they view financial planning as an ongoing partnership to help them proactively realize their evolving financial dreams.
Ultimately, the Fix, Fine, Flourish framework provides an organic way to keep clients engaged and focused on realizing meaningful financial goals. By reframing “fine” as a stepping-stone to something greater, advisors can help clients connect the financial planning process to their broader life aspirations. This approach not only strengthens the client-advisor relationship but also helps clients thrive by aligning their finances with the vision of a life well-lived!
