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Evaluating

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Monthly Checklist Series

Evaluating Potential Personal
Financial Planning Clients

Financial planners should complete this checklist after an initial meeting with a prospective client. These responses can help financial planners decide whether a potential client has a real need and is committed to the PFP process.

     
YES
NO
  1. Is the potential PFP client an existing client?
(If no, skip to question 5.)
  2. What services are currently provided?
     
     
  3. Is the client cooperative in providing requested information?
  4. Does the client pay bills promptly?
5. Does the potential client
    a. Understand the PFP process?
    b. Understand his or her time commitment in the PFP process?
    c. Have time to commit to the PFP process?
    d. Appear fee-sensitive?
  6. What kind of services does the potential client need?    
    a. Comprehensive PFP
    b. Cash flow and cash management
    c. Debt management
    d. Income tax planning
    e. Retirement planning
    f. Estate planning
    g. Education funding
    h. Insurance analysis and planning
    i. Investment planning
    j. Investment performance monitoring
    k. Other
  7. Has the potential client undertaken the PFP process before?
8. Indicate other considerations pertinent to the decision to
work with the potential client.
     
     
 

  Adapted from 1997 PFP Practice Handbook, copyright 1997 by American Institute of CPAs.


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