Financial Planning: The Training Gap and How to Bridge It

As a financial planner, I've seen firsthand the challenges our industry faces in training new professionals. The current system often falls short in providing the practical experience and comprehensive education needed to succeed. Hannah Moore, a Certified Financial Planner™ and founder of Guiding Wealth, has identified this issue and developed innovative solutions to address it. Let's dive into the training gap in financial planning and explore how Moore's approach can help bridge it.

The training gap in financial planning
The financial planning industry faces several challenges in training new professionals, including:

1. Lack of practical experience: Traditional training programs often focus on theory and not enough on real-world application. This leaves new planners ill-prepared for the complexities of the field.
2. Inaccessibility: Many training programs are expensive and time-consuming, making them inaccessible to those who cannot afford them or commit the necessary time.
3. One-size-fits-all approach: Traditional programs may not cater to the diverse needs and learning styles of all students, leading to a less effective learning experience.
4. Limited focus on soft skills: Traditional training may not adequately emphasize the importance of soft skills, such as communication, empathy, and cultural competency, which are crucial for successful financial planning.

Hannah Moore's innovative approach
Moore has developed a unique approach to financial planning training that addresses these challenges and offers several benefits:

1. Hands-on experience: Moore's programs, such as The Externship and Amplified Planning CORE, emphasize practical experience through internships, mentorships, and real-life case studies. This helps bridge the gap between theoretical knowledge and practical application.
2. Accessibility: Moore's online training programs offer a more flexible and affordable alternative to traditional classroom-based training, making financial planning education more accessible to a wider range of individuals.
3. Personalized learning: Moore's programs cater to diverse learning styles and needs, offering personalized learning paths and resources tailored to each student's unique situation.
4. Emphasis on soft skills: Moore's approach places a strong emphasis on developing soft skills, such as communication, empathy, and cultural competency, to better serve clients from diverse backgrounds.
5. Inclusive and compassionate approach: Moore's programs aim to make financial planning more inclusive and compassionate, focusing on serving underserved communities and individuals who may not traditionally seek financial planning services.

The impact of Moore's approach on the financial planning industry
Moore's innovative training programs have had a significant impact on the financial planning industry. With over 4,000 alumni and growing, The Externship has become a leading program in the field. Moore's approach has been recognized by prestigious organizations like Investopedia, Investment News, Financial Planning Association®, and ThinkAdvisor, demonstrating the effectiveness of her programs.

In conclusion, the training gap in financial planning is a real challenge that the industry must address. Hannah Moore's innovative approach offers a solution that provides practical experience, accessibility, personalized learning, and a focus on soft skills and inclusivity. By embracing Moore's approach, the financial planning industry can better prepare new professionals for success and ensure that financial planning services are accessible to a broader range of individuals.

As a financial planner, I encourage my colleagues to explore Moore's programs and consider adopting her innovative approach to training. Together, we can bridge the training gap and build a stronger, more inclusive financial planning profession.