Overview

The Centric Process™

It is estimated that over 70% of the American public does not have an adequate estate plan. Although 47% have a will and 17% have a trust, most people don’t have all the pieces in proper place and alignment to constitute an adequate plan. This represents a genuine opportunity for the financial advisor/professional to help their clients with an essential component to their financial wellness. 

Directing clients to attorneys who can provide the appropriate legal instruments to execute wishes and desires of clients while alive and at death, does not mean the advisor has to “give up” or “take a back seat” in their relationship with the client. Thus the “Centric Process™ was created to keep the advisor at the center of the client relationship during and after the estate plan is developed.

Simply, the Centric Process™ consists of 3 steps.

Step 1: Introduce the Concept of Estate Planning and the The Trusted Attorney Network 

Advisor Centric Trusts has a complete marketing system “in a box.” Phone scripts, selected articles, questionnaires and email templates will allow the advisor to help the client to assess their understanding and need.  Providing the client with a professionally produced educational video from the selected member firm from the Trusted Attorney Network will help the client better understand their planning wishes and needs and will produce individual questions they would like to have answered.

Step 2: Choose the involvement level and Points of Participation 

Each case and client is different, so sometimes advisors choose to refer their clients and ask to be kept informed of the progress of the process. This can be done.  Other times advisors wish to be intimately involved in the process and can participate in key client calls. Advisors can participate in: 

• Introductory Call: conducted by a paralegal in which the process is explained, general fee structure discussed and general questions are answered.  The client can decide if they wish to move forward with the starting an estate plan.
• Initial Consultation: usually conducted by a paralegal (may be done by an attorney) at which time the initial fee is collected to begin engagement. A Permission to share information with the advisor is secured at this time.  Personal and financial information is gathered to start the process. The Paralegal will serve as the case manager for the client and work directly with the advisor. 
• Design Consultation: attorney or paralegal reviews, completes and verifies personal and financial information and confirms desires of the clients to design an estate plan package of the appropriate documents
• Delivery Call: attorney or paralegal reviews the hardcopy (binder) of documents comprising the estate plan. Clients are directed back to meet with their advisor for beneficiary, insurance and investment reviews, changes and additions.  

 
Step 3: Follow-up with the Client to Complete any New Financial Business  

Schedule a follow up meeting with the client to review any needed changes in beneficiaries or consolidation of accounts. During the process, the advisor should begin to see opportunities for additional work.  Make sure the client reviews the estate plan with the attorney every 3-5 years or when significant life events occur.