Ms Greenwood, president of Financial Social Media UK, speaking at the IFP's first social media conference says planning for social media, just like planning for clients, was essential.
She said too many planners dived in to social medial without considering the time involved or the implications.
She said the written plan should include the company's social media policy, the social media strategy, training, an editorial calendar and archiving.
She said the social media policy for a Financial Planning business should include the reason why social media was being used, it should set the tone and focus on what can and cannot be done. It should also include coverage of compliance issues and should be an easy-to-read "usable" document.
The social media strategy itself should identify the audience to be reached, what works and what doesn't and include KPIs (key peformance indicators).
When getting started she urged delegates not to get "overwhelmed" and try and do everything at once. Delegates were also urged to take their time and "stick at it."
She said delgates should also "look for the minimum required to get the maximum returns."
She added that planners should look to add content every day to increase the value of their social media offering.
The full-day conference is looking at why social media is vital in business, how to add a personal touch to marketing, best practice strategies and defining goals and objectives.
Financial Planner will be tweeting live from the conference on Twitter @FPM_Online and running regularly updated news coverage onto financialplanneronline.co.uk To follow the conference on Twitter, use the hashtag #ifpsocialmedia.
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Speakers at the event will include Justine Priestley from Really Bright Media who will be speaking on utilising social media to showcase your business,  Bridget Greenwood on integrating social media into your business with care and Abbie Tanner of A Business Innovation.
Other speakers will include Philip Calvert from LifeTalk (formerly IFA Life) on LinkedIn essentials and Morris Pentel from Customer Experience Foundation on using social media via mobile phones and tablets.
The conference qualifies for six hours of CPD.

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