Financial Planning Business Plan

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Grizzly Bear Financial Managers

Opportunity

Problem & Solution

Problem Worth Solving

There are people in the Portland Oregon who are in need  of investing advice, and those that are in need of estate planning help.

Our Solution

Grizzly Bear Financial Managers is a comprehensive financial planning and estate planning consultancy.  Grizzly’s services are comprehensive in terms of offered products (mutual funds, equities, estate planning) and depth of research.  Although it costs a fair amount of money for Grizzly to do an in-depth amount of research into prospective investments as well as possible options for the client, this up-front cost will be eclipsed by a long-term relationship that is likely to be established out of earned respect.

Grizzly Bear Financial Managers serves the Portland Metropolitan area.  Grizzly will be generating new clients through a combination of networking and monthly public seminars that introduces otherwise unreachable segments of the population.  Besides the seminars developing new business, it is also a way that Grizzly can give back to the community.

Target Market

Market Size & Segments

Market Segmentation

Grizzly Bear Financial Managers will target two different groups of customers.  Both groups will be from the middle to upper-middle class socio-economic groups.

  • Middle-aged people in need of estate planning. This group is making plans for their estate and are in need of advice on how to structure their estate.  They might have already made arrangements for their estate and wish to modify them, or be starting from scratch.
  • Middle-aged people interested in investing. This group is interested in some sort of investing, whether it is mutual funds, stocks, bonds, treasury notes, etc. They may have already done some investing, but want to change their risk profile or take a different approach.  This might also be their first time investing and want expert advice.

Target Market Segment 

Grizzly Bear Financial Managers has chosen these two groups because they both have money to invest and most need assistance in determining how to invest or how to structure their estate.

These groups will be targeted through two methods.  The first is old fashioned networking.  Meghan made a lot of different contacts in her pursuit for her MBA.  In addition to networking her contacts from school, Meghan will also network using her social contacts.

Meghan will also be targeting these groups through the production of public seminars on estate planning and investing.  These seminars typically take place in a public area such as a library hall.  The seminars provide a basic level of knowledge. The seminar is not meant to substitute Meghan’s services, they are meant to whet people’s appetites for more information.  The real reason for the seminars is to get a diverse crowd of people interested in Meghan and the services she offers, creating new business.

Competition

Current Alternatives

Competition comes from many different sources:

  • Independent financial planners: these are often most like Grizzly Bear Financial Managers.  They do not belong to a larger company and they are not affiliated with any type of company, mutual fund, or otherwise.
  • Financial planners that are part of a larger organization: American Express, Charles Schwaab, and Merrill Lynch.  While these planners might offer good advice, they are often biased, having a financial interest in the companies that they sell equity in.
  • Tax and estate planning attorneys: professionals with a legal background who offer similar financial services, sometimes as a sideline to their practice of law.
  • True niche players who only are stock brokers or who only do estate planning: while these people probably have very detailed information about their area of specialization, estate planning or financial planning often requires a breadth of knowledge in many areas. 

The buying patterns of consumers are more often than not based on networking or who the person knows.  This is because the industry of financial planning is so populated it is quite hard to make a decision for choosing a service provider.  Since many/most people after a certain age have at least visited a financial planner it is not difficult to get a referral for a planner.

Our Advantages

Grizzly Bear Financial Managers’ competitive advantage is their comprehensive approach to research and services provided.  It is Meghan’s philosophy that she can develop more value for her customers by investing more time up front while researching different options.  Most planning firms will do adequate research in terms of looking into different options, certainly enough to meet due diligence requirements. While this is sufficient for some, Meghan adheres to the philosophy that its is better to invest the time upfront in support of the customers.  This will then pay off in the future by developing long lasting relationships.  This attention to detail and thoroughness will certainly be appreciated by clients who are trusting their financial future to Meghan.

Keys to Success

Keys to Success

Our keys to success are:

  1. To create a service-based company whose primary goal is to exceed customer’s expectations.
  2. To increase the number of clients served by at least 20% per year through superior performance and word-of-mouth referrals.
  3. To develop a sustainable financial management company that generates value for their customers. 
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