The Acres of Diamonds story (a true one) has been told many times…of the African farmer who sold his farm to go prospecting with the hope of discovering a diamond mine and becoming rich. The story ends sadly for the farmer who after years of searching and finding nothing, threw himself into a river and drown in a fit of despondency.
The story for the one who bought the farmer’s land ended quite differently, however. Turns out the land was full of diamonds and became one of the most successful diamonds minds on the African continent. The farmer who sold his land hoping to find diamonds had overlooked the diamonds at his feet. It is easy to overlook the opportunities that are right before us…the ones to be found in the “land” we already possess.
Estate Planning deepens relationships. Estate Planning maintains relationships. Estate Planning unearths and exposes opportunities for advisors to assist their clients with changing needs that become evident with changing life situations.
Once the first piece of business is complete, a rewarding relationship has been established with a client. Maintaining the client relationship through the years is essential to the mutual success of the advisor and the client. The more an advisor is able to service and provide a client, the deeper and more rewarding the relationship becomes.
The Advisor Centric Process keeps the financial advisor/professional intimately involved in understanding and addressing some of the most important issues and desires of their clients. As the years go by and situations change, the advisor will know when significant events happen and opportunities to be of further service are present.
As the one who gathers the financial information for the legal document formation, the advisor sits in a unique place to see all the financial pieces of their client portfolio. The estate plan requires full disclosure and accuracy, consequently the advisor will generally learn of assets not previously known, thus allowing greater ability to meet fiduciary and suitability requirements in conducting business.
After the legal documents are prepared and delivered, the advisor will find the diamond opportunities to further review and update financial needs. During periodic reviews of the estate plan to adjust for changing laws and life changing circumstances, the advisor will generally find additional business opportunities.
Enhance your relationship with your client by being part of their estate planning.
Follow up on Attorney recommendations & newly discovered opportunities.
Be part of the attorney/advisor team for the next generation.
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