Navigating estate planning can be quite the undertaking for financial advisors and wealth managers. In such a competitive market, what really sets you apart isn't just the ability to provide financial guidance—it's your knack for engaging new clients and creating long-lasting relationships that span generations. Here’s how estate planning can help you do it.
Remember, estate planning isn’t a one-and-done deal. It’s about laying the foundation for a relationship that lasts for years, often extending beyond your initial client. When you're meeting a new client, think of it as a connection to the entire family.
That’s because you're not just planning for John and Jane Doe's retirement—you're also considering the future of Junior and his sister Suzie. Frame your conversations around the idea of legacy and family continuation. You’ll find that this approach can make your services indispensable as clients look to safeguard their loved one's futures.
Each beneficiary on an estate plan will one day need guidance on their financial roadmap. By connecting well with your client’s family through estate planning, you plant the seed for future business.
Give beneficiaries a glimpse of the level of service and expertise you offer. For instance, a simple workshop about estate planning basics can go a long way in establishing trust and opening the door for new client relationships.
When it comes to selling your other products and services, knowing your client inside and out is crucial. After all, the most successful estate plans are the ones that consider the full financial picture. It helps to understand what your clients have, how they got there, and where they wish to go.
By grasping the entirety of their financial landscape, you can more effectively offer other financial services and products. For instance, explaining how life insurance can serve as a vehicle for tax benefits might resonate with a client looking for savvy estate planning advice.
The work of estate planning doesn't stop when the documents are signed. Changes in life circumstances, laws, or financial status all mean you need regular plan reviews. Leverage these moments as natural touchpoints to reconnect and show how attentive and proactive you are. It’s the difference between being seen as a generic advisor and becoming an invaluable part of your client’s financial well-being.
Engaging new clients can be difficult, especially in such a competitive landscape for financial advisors. Remember that the most powerful tool at your disposal is the relationship you cultivate with your clients. Today’s clients expect a level of engagement that feels both intelligent and refreshingly human. Keep estate planning in your toolkit as you build your practice. It’s a bridge connecting you to generations of clients for your practice.
Navigating estate planning can be quite the undertaking for financial advisors and wealth managers. In such a competitive market, what really sets you apart isn't just the ability to provide financial guidance—it's your knack for engaging new clients and creating long-lasting relationships that span generations. Here’s how estate planning can help you do it.
Remember, estate planning isn’t a one-and-done deal. It’s about laying the foundation for a relationship that lasts for years, often extending beyond your initial client. When you're meeting a new client, think of it as a connection to the entire family.
That’s because you're not just planning for John and Jane Doe's retirement—you're also considering the future of Junior and his sister Suzie. Frame your conversations around the idea of legacy and family continuation. You’ll find that this approach can make your services indispensable as clients look to safeguard their loved one's futures.
Each beneficiary on an estate plan will one day need guidance on their financial roadmap. By connecting well with your client’s family through estate planning, you plant the seed for future business.
Give beneficiaries a glimpse of the level of service and expertise you offer. For instance, a simple workshop about estate planning basics can go a long way in establishing trust and opening the door for new client relationships.
When it comes to selling your other products and services, knowing your client inside and out is crucial. After all, the most successful estate plans are the ones that consider the full financial picture. It helps to understand what your clients have, how they got there, and where they wish to go.
By grasping the entirety of their financial landscape, you can more effectively offer other financial services and products. For instance, explaining how life insurance can serve as a vehicle for tax benefits might resonate with a client looking for savvy estate planning advice.
The work of estate planning doesn't stop when the documents are signed. Changes in life circumstances, laws, or financial status all mean you need regular plan reviews. Leverage these moments as natural touchpoints to reconnect and show how attentive and proactive you are. It’s the difference between being seen as a generic advisor and becoming an invaluable part of your client’s financial well-being.
Engaging new clients can be difficult, especially in such a competitive landscape for financial advisors. Remember that the most powerful tool at your disposal is the relationship you cultivate with your clients. Today’s clients expect a level of engagement that feels both intelligent and refreshingly human. Keep estate planning in your toolkit as you build your practice. It’s a bridge connecting you to generations of clients for your practice.
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