estate planning for financial planners

How Can Financial Planners Benefit From Discussing Estate Planning?

Financial planners looking to provide comprehensive service should include discussions about estate planning.

As part of my goal to become a trusted advisor, I often speak with financial planners about the benefits of introducing estate planning to their clients. This not only gives me an opportunity to provide information about the service that I provide, but it also provides helpful information to them. This furthers my goal at providing a community of advisors for my clients.

Providing estate planning information, from a business perspective, can greatly increase a planner’s reach. Estate planning gives planners visibility with insurance companies and provides product placement opportunities. It also communicates to their clients that they are interested in a holistic, comprehensive approach in client relations. To that end, here are a few brief ideas about how financial planners can spread the word about estate planning:

  1. Tailoring messages around holidays. For example, use the Thanksgiving or Christmas holiday season to pass along a note regarding estate or succession planning. This time of year provides families an opportunity to discuss some of these issues. Tax season, end of year/quarter, etc. are also great times.
  2. Being cognizant of where assets are titled. If you see a large asset titled in the name of your client, this provides a great opportunity to inquire and explain the benefits of a trust.
  3. The birth of a child. This provides an opportunity to not only send a congratulatory message, but to follow up on guardianship and conservatorship issues.
  4. Providing a checklist. I find that clients are very visual. Providing a checklist, which includes estate planning documents, will show clients how much progress they have made, as well as some areas of a comprehensive wealth plan that they are missing.

If you are a financial advisor, or a client looking for more information about estate planning, I am happy to answer any question or provide a free estate plan review. Let me know, I am here to help!

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