FAQs for Advisors

1. What are the benefits of hiring PlanPrep to create financial plans for my clients?

PlanPrep has the expertise to help you address the pertinent issues with clients faster and better. PlanPrep doesn’t bog you down with unnecessary details, but we incorporate the relevant decision making information. Our fact finding system helps you discover your clients’ needs quickly, so they take the proper steps now toward their goals. We will save and make you money, while placing your clients on the right track toward their goals.

2. What can PlanPrep do differently than my staff?

PlanPrep masters the software, finds the relevant plan data in the fact finders and client documents, analyzes each situation accurately and makes suitable, implementable recommendations for you to present. Best of all for you, we are only on your payroll when you need our services. We save you money on salaries, office space and equipment, training, and we save you a lot of time on the computer. If you’re still not sure, then please review these questions:

  • Do you have the time to master the software, train your staff to use it, and stay on top of the updates?
  • Does your assistant or paraplanner have the expertise to analyze the client data?
  • How often do you have to hire new staff to do the planning, only to start the training all over again?
  • What reports should you generate to tell the story for each unique client situation?
  • What’s the highest and best use of your time?
  • How about your assistant?


3. What does it take for a financial professional to qualify for PlanPrep membership?

We work with advisors who have at least five years experience in the business who understand the value of delegating back-office tasks.  Please review these FAQs, Our Process, Privacy Policy, Outsourcing Agreement, Disclosure Brochure, and Disclaimer, and then register on the Apply Now page of this website.

4. Does PlanPrep provide advice or case assistance before I meet with a client?

Absolutely. You may find it beneficial to discuss a case with PlanPrep before you approach the client to better understand the information you need to gather and the questions to ask in your discovery meeting.  After you meet with the client, simply fax or upload the relevant PlanPrep fact finders and client data with copies of any notes you have taken.  We will evaluate the case and give written guidance for you to provide the next steps and recommendations.

5. How do I leverage PlanPrep’s expertise?

After you submit your application through Apply Now, we will send you a welcome email with our fee schedule .

6. How long does it take PlanPrep to complete the work?

Typically, we will have questions on what you submit to us, and we respond with a follow email with three business days.  We can have plans back to you within a couple days from having the reply to the email.  Changes or corrections requested by you after our work has begun may extend the delivery date.

7. Do I have to use the PlanPrep fact finders?

No, BUT you may miss out on opportunities that you might uncover with our forms. The better you leverage our check lists, forms and fact finders, the more successful you and your clients will be through the whole planning process. These are available for

8. What software does PlanPrep use to create plans and perform business valuations?

  • eMoney Advisor
  • BizEquity
  • Excel Spreadsheets
  • PowerPoint

9. Do I need to subscribe to the financial planning software?

Yes. PlanPrep abides by the copyrights and licensing agreement of software eMoney. The licensing agreement specifies under what conditions the software may be used, and we strongly encourage you to review their agreement before purchasing the software or having a plan created by PlanPrep.

10. How do I let my clients know about the financial planning services that I’m offering?

We suggest you tell them that you have a new service for a fee, and you’d love to have them come in to see how it works. Whatever you decide, make sure your messaging is consistent from prospect to client.

11. What about data security? How do I forward client data to PlanPrep, and how does PlanPrep get it back to me?

You can upload scanned files securely to us through our encrypted Hightail account or into the vault. We send completed files via Hightail or we upload the documents into the client’s file in the vault. PlanPrep takes precautions to protect your clients’ data as well as yours. We do not accept hard copies of any documents. Note that we retain copies of all documents and files as may be required by law.

12. How much do your services cost?

Click here to see our current fee schedule.

13. How do I pay for PlanPrep’s service?

We send you an invoice via PayPal. We go to work after payment is received.

14. How do I disclose that PlanPrep is providing financial planning services?

You should consult your attorney, OSJ or compliance department before engaging PlanPrep.  They may suggest that you disclose on your firm’s disclosure document that you “may engage third parties to provide financial planning services” for your clients.  You may want to be more specific in written and verbal disclosures in naming PlanPrep specifically.  We provide a disclosure document you can use to make your clients aware of the relationship with PlanPrep.

15. What about record keeping?

Retain a copy on file of PlanPrep’s Disclosure Brochure, Privacy Policy and Outsourcing Agreement as you would other important documents.

16. What do I need to submit to my compliance department?

Each firm has different requirements.  You may need to receive prior approval to use any of PlanPrep forms, letters, executive summaries and financial analyses prior to showing or delivering them to your clients.  Your firm may have specific disclosures and disclaimers that are required to be added, so it is essential to understand these requirements and provide them to PlanPrep along with your first engagement.

17. Do you run multiple scenarios?

We do, but we may need to charge additional fees and can quote that for you before any work begins.