Financial planning incest creates retarded results

Yours Gluteny was indoctrinated… errr… “educated”… in the ways of the force… the “good force.” That is to say… “the 6 steps of financial planning.”

This is like the orthodox holy Roman Church version of financial planning.

It’s a bunch of rules and dictates handed down from on high (also known as the Certified Financial Planner Board of Standards).

And they are as follows:

(1) Establish and define the client-planner relationship.
(2) Gather client data and determine goals and expectations.
(3) Analyze and evaluate the client’s financial status.

(4) Develop and present the financial planning recommendations and/or alternatives.

(5) Implement the financial planning recommendations.

(6) Monitor the financial planning recommendations.

I have a strong aversion to authority, which is why I don’t use this process.

Here’s what I mean: the whole process (as it’s used right now) is very authoritarian and assumes the financial planner can give the client “automatic” answers and the client doesn’t have to think about… well… about ANYTHING. They just do what the planner tells them to do.

Now, some planners are very clever and give the client the illusion of choice by asking questions in a very specific way… but it’s still the same 6-step authoritarian process.

None of this is terribly surprising.

I mean… the profession was created in the late 60s and still has considerable cultural influence from the 1940s and 1950s… a time when you didn’t DARE disobey your parents or authority figures.


Another problem with the conventional approach is the fact that it’s set up as the standard.

Standards have inherent problems… like the fact that they enforce conformity instead of independent thinking and judgment.

So, what happens is…

… if you break up with your financial planner and start dating a new one… you’re likely to be exposed to the same problems you had with your ex.

Everyone’s marketing looks the same. Everyone’s investment advice tends to look the same. Everyone’s results look the same…

It’s like financial planning incest.

Speaking of results …

After almost 60 years of showing people how to save and invest, the average retirement account (even when people work with financial planners) is “stuffed to the brim” with… roughly $50,000 to $150,000.

*slow clap*


If ye like those results, have at it.


I do things a bit differently (and my clients experience VERY different results).

But a word of warning: don’t expect instant results… things don’t change overnight or even after one year.

It takes time, patience, and long-term planning/thinking… and yes, independent judgment.


More info here…

David Lewis, AKA The Rogue Agent, has been a life insurance agent since 2004, and has worked with some of the oldest and most respected mutual life insurance companies in the U.S. during that time. To learn more about him and his business, go here.