Financial Planning Consultants

Financial Planning Consultants (FPC) has occupied the Financial Planning Building on North Verity Parkway since 1978 and the in-house Training Center accommodates 28 people in a classroom setting with full video aids and computer terminals.

As FPC grows through the 21st Century we will continue to strive to be our financial advisor customers' most valuable partner. Our goal remains to enhance their practice and provide advantages through empowering technology, software, training and services that allows them to realize their greatest level of success.

In 2004 we completed the acquisition of the EnterAct personal financial planning software from CCH Incorporated. EnterAct (originally known as LifeGoals) is a powerful software program that employs the power of the tax formulas developed by CCH (formerly Commerce Clearing House), one of the worlds largest tax and financial publishers.  We will be integrating the Text Library System and EnterAct into a comprehensive software "Builder" suite to assist financial advisors build and sustain a financial practice.

The leadership position of FPC in the fields of personal financial planning, computer hardware and software systems, as well as effective training for professional financial advisors is demonstrated by our rich history. FPC was founded in 1969, as an advisory service company, providing comprehensive financial planning to clients for a fee. It was one of the first such firms in the state of Ohio and actually preceded the establishment of the formal industry associations. FPC provided clients with personal and business planning, followed by product assistance and offered life insurance related products and investment brokerage services.

Our first computer activity commenced in 1971 with KeyPact portable terminals using the Computone Systems network. We also started the use of printing terminals on the Control Data Network for complex leveraged insurance illustrations, investment portfolio review and financial analysis. In 1973, we developed estate planning analysis programs and trained Computone users at educational workshops in Atlanta and at Purdue University. From 1974 through 1979, the company was a vendor for both systems - hardware and software. In 1975, we installed early versions of word processing systems on systems by Olivetti and Wang and marketed packages of financial advisory documents designed for advisors entering financial planning.

In 1977 the company developed five programs for use on Digital Equipment Corporation computers and became a vendor for the DEC WD 78, accompanied by integrated planning systems for financial advisors. These programs were used in providing consultative services to business owners, large farm owners, executives and wealthy retirees.

In the early 1980's, we developed our proprietary financial planning software, ProPlan, to assist our planning division in providing a more comprehensive report for our clients. Initially, this software ran on what were then called mini-computers. By today's standards these multi-user computers were anything but mini, and sold for more than $26,000. Subsequently, this software was revised to operate on IBM Compatible 16 bit personal computers. ProPlan was used by financial planners and accountants across the country, and it was particularly effective when used to prepare comprehensive plans for corporate executives since it would integrate stock option analysis and valuation into both cash flow and retirement.

In 1983, we introduced Text Library System (TLS). Initially TLS contained two lists of planning assumptions and objectives plus about fifty articles. Gradually, more features were added and the breadth of the articles was expanded enormously. Over the subsequent years, TLS has grown to become a mature, fully-featured, complete Client Relationship Management (CRM) system. Extensive components of this CRM system for financial advisors include: Contact Manager; Practice Management Aids; Financial Planning Tools; Marketing System and a Resource Library. TLS generates documents for clarification of complex information relative to financial planning, and has been expanded doe different aspects of financial services such as seminars, mass marketing, compliance and business planning. TLS is used by a large number of financial advisors, including accountants, fee-only planners, insurance-based advisors, attorneys, and philanthropic advisors from 46 states and several foreign countries.

During the 1980's, FPC supported Confidential Planning Services - an organization that franchised financial planning. The CPS training and systems were distributed by FPC, and grew to more than 150-member firms. Those tools and operations manuals are now a legacy used by FPC in its training and practice management programs.

FPC's financial planning clients ranged from individuals to corporate executives of the largest corporations in the United States.  We also provided planning services to clients of other professionals such as lawyers, insurance agents and stockbrokers. FPC has been rated as one of the top 200 financial planning firms in the United States by Money Magazine. The company's founder, Ed Morrow is recognized worldwide as an expert in financial planning and is a widely published author having appeared over 500 times in industry publications. He now speaks widely in Asia as part of the introduction of educational courses on behalf of the International Association of Registered Financial Consultants, of which he serves as Chairman.

In 1991, we briefly resumed computer hardware sales, taking over the Miamisburg operations of Discount Computers, which enabled us to bundle hardware and software. However, we phased out the hardware equipment because of the increased availability of reliable equipment nationwide.

In 1996, we began offering Client Communication Workshops as a part of our training activity. These workshops were primarily designed to train our existing customers on the importance of client communications, due diligence and practice management. We are currently presenting Client Relationship Management Workshops, primarily in our training facility in Middletown, but also offered in any city, based on enrollment and request.

In 1997, we expanded comprehensive training activities, producing the VUL Academy for financial advisors that wished to increase their life production to seminar attendees. The participants achieved a 61% production increase. As result of research conducted in a book project on coaching for financial advisors, FPC now offers a new practice management coaching program and also plan consultation for advisors.

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