True Wealth™ Planning:
MQ's Approach to Financial Life Planning
Discover a robust model that aligns financial strategies with what truly matters to clients – their definition of True Wealth™.
True Wealth™ Planning is a research-based, multidisciplinary model that takes into consideration the psychological aspects that are at play at each stage in your relationship with your clients. It develops a framework for conversation that’s comfortable for clients and helps build trust so that you can help clients uncover their definition of True Wealth™ and motivate action.
"Working hard for somethign we don't care about is called stress. Working hard for something we love is called passion."
–Simon Sinek
The Five Stages of True Wealth™ Planning
Our research-based True Wealth™ Process has five stages to it. Each stage is designed to facilitate an effective communication cycle and support successful client engagement.
EXPLORE
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This is the initial data gathering stage that applies to all prospective clients. In this stage, the advisor’s main objective is to gather enough qualitative and quantitative information to 1) understand the client’s main issues and concerns, 2) estimate the scope of the engagement, and 3) verify that the client/advisor relationship will be a good fit for both parties. This is also the time when the trust building process begins, making it an important opportunity for the advisor to differentiate himself/herself from other financial professionals. Both research and experience have shown that trust in the advisor is developed by expressing the importance of having the client’s values and priorities shape the financial plan as well as having the client experience a more holistic process via life-centered exercises and conversations.
ENGAGE
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The second stage begins when a commitment has been made—by both the advisor and the client—to move forward with a working relationship. The main purpose of this stage is to identify and clarify the client’s true values and priorities. It involves an in-depth data gathering process of both qualitative and quantitative information which fully engages the client’s heart and mind. One of the goals in this stage is to understand where the client is now in several areas of life as well as the journey that brought him/her to this point in time. This insight will help the advisor to understand the client’s unique perspective on many issues and how best to communicate with him/her. For the client, this discovery process increases self-awareness, develops a sense of connection to advisor, and builds enthusiasm for the financial planning process.
ENVISION
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The objective of this stage is to assist the client in creating a vision for the future that is compelling, fulfilling, and inspiring. This mental picture will include everything that is important to the client and contributes to his/her happiness and life satisfaction. The next step is to mutually define personal and financial goals that align with and support that image. For the advisor, the visualization and goal setting process will establish clear guidelines for creating a financial plan that is aligned with the client’s values and priorities. For the client, this process will foster trust in the advisor and commitment to the plan and advice that is developed.
ENLIGHTEN
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In this stage, the advisor will summarize and clarify his/her new insights and knowledge about the client’s values, priorities, concerns, transitions, goals, and objectives. The purpose of this stage is to verify understanding of what the client has communicated and to demonstrate a commitment to putting the client’s interests first. When presenting the financial plan, the advisor can then explain how the financial solutions he/she proposes supports the life vision and goals the client has created.
EMPOWER
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Armed with new insight and knowledge, the client is “empowered” to take action. Because of the direct link between 1) the financial plan or advice delivered and 2) the client’s unique perspective of “quality of life,” he/she will be motivated and committed to implementing the advisor’s recommendations. The advisor will continue to act as a guide in this stage, monitoring progress and helping to maintain focus on the client’s personal and financial goals. Because unanticipated events occur and priorities shift over time, it is important for the client and the advisor to regularly review the client’s True Wealth Plan to make sure it remains relevant to the client’s life journey. This is also a stage where the on-going True Wealth Process will continue to strengthen the advisor-client relationship and nurture the client’s financial well-being and life satisfaction.
Enhancing CFP Board's 7-Step Financial Planning Process
Explore
- Establish and define the client/planner relationship
Engage
Envision
- Gather client data and establish goals
Enlighten
- Analyze and evaluate the client's financial status
- Develop the financial plan
- Present the financial plan
Empower
- Implement the financial plan
- Monitor the financial plan
True Wealth™ Planning Inquiry Categories
To bring higher levels of clarity and self-awareness to our clients so they can make informed financial decisions, Money Quotient has identified four topic areas, called “inquiry categories,” we recommend discussing with clients.
Satisfaction & Values
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Satisfaction isn’t determined by income alone—it’s deeply personal and shaped by each individual’s unique definition of success. Two people earning the same salary can experience vastly different levels of life satisfaction depending on how aligned their use of money, time, and energy is with their core values.
When clients feel dissatisfied, they often struggle to pinpoint the cause. That’s why helping them clarify what truly matters is essential. By uncovering core values and assessing how resources are currently being allocated, financial planners can guide clients toward decisions that not only make financial sense—but also foster greater fulfillment, purpose, and well-being.
When clients feel dissatisfied, they often struggle to pinpoint the cause. That’s why helping them clarify what truly matters is essential. By uncovering core values and assessing how resources are currently being allocated, financial planners can guide clients toward decisions that not only make financial sense—but also foster greater fulfillment, purpose, and well-being.
Biography
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A client’s values, preferences, passions, and even fears don’t appear out of nowhere—they’re shaped by a lifetime of experiences, especially those formed in childhood. Often, these experiences lead to subconscious beliefs and automatic behaviors that influence financial decision-making without the client even realizing it.
By guiding clients through a thoughtful exploration of their personal biography, financial planners can help them uncover how past experiences have shaped their current perspectives and habits. This increased self-awareness empowers clients to evaluate whether those beliefs and behaviors still serve them—and, if not, to consciously choose new approaches that better support their goals. In the process, clients gain a stronger foundation for making more intentional, informed financial decisions.
By guiding clients through a thoughtful exploration of their personal biography, financial planners can help them uncover how past experiences have shaped their current perspectives and habits. This increased self-awareness empowers clients to evaluate whether those beliefs and behaviors still serve them—and, if not, to consciously choose new approaches that better support their goals. In the process, clients gain a stronger foundation for making more intentional, informed financial decisions.
Transitions
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Change is one of the few constants in life—both expected and unexpected. While we can't always predict what’s ahead, financial planners can play a crucial role in helping clients proactively prepare for the roadblocks and opportunities that change brings.
Life transitions require more than just practical solutions; they demand emotional strength and adaptability. By understanding the psychological aspects of change, planners can guide clients in building both emotional resilience and financial safety nets. This dual approach equips clients to navigate transitions more smoothly, make better decisions under pressure, and move forward with greater confidence and clarity.
Life transitions require more than just practical solutions; they demand emotional strength and adaptability. By understanding the psychological aspects of change, planners can guide clients in building both emotional resilience and financial safety nets. This dual approach equips clients to navigate transitions more smoothly, make better decisions under pressure, and move forward with greater confidence and clarity.
Goals
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Talking about goals is a staple of the financial planning process—but few advisors stop to consider how clients feel about setting goals. For many, past experiences with goal setting have been discouraging or even disempowering. They may have failed to meet goals in the past, had them imposed by others in work or school, or simply believe they don’t have the skills or knowledge to succeed.
These experiences can create hidden mental barriers that make it hard for clients to fully engage. That’s why it’s so important for advisors to recognize and gently work through these blocks. Money Quotient offers a refreshing, client-centered approach to goal setting—one that reframes the process, removes pressure, and uses fun, reflective exercises to help clients uncover goals that are deeply personal, meaningful, and energizing.
These experiences can create hidden mental barriers that make it hard for clients to fully engage. That’s why it’s so important for advisors to recognize and gently work through these blocks. Money Quotient offers a refreshing, client-centered approach to goal setting—one that reframes the process, removes pressure, and uses fun, reflective exercises to help clients uncover goals that are deeply personal, meaningful, and energizing.
What Others Say
"Clients who experience the True Wealth Process often discover things about themselves or their partners that they've never shared before."
- William Pitney, CFP®
"The True Wealth Process helps clients feel truly seen and heard. It's a safe and transformative experience for them."
- Lexi Olian, CFP®
"The True Wealth Process creates clarity for clients, helping them uncover what truly matters in their lives."
- Aries Jiminez, CFP®
Deepen Your Approach to Financial Planning
Curious about how True Wealth™ planning can deepen your approach to Financial Life Planning, strengthen your client relationships, and enhance your skills and impact? Sign up for our foundational program, Fundamentals of True Wealth™ Planning.
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