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!

Tags: assets, estate planning, family law, financial advisor, small business, succession planning, trust, Will
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