Many advisors claim to offer “comprehensive” wealth management, but a surprising majority overlook a critical pillar of that promise: estate planning
Many financial advisors pride themselves on providing comprehensive wealth management services to their clients. However, a significant number of them fail to address a crucial aspect of financial planning: estate planning. Despite the fact that most affluent individuals desire and anticipate estate planning assistance from their advisors, this need often goes unmet.
The Importance of Estate Planning in Wealth Management
Join Michael Schwoerer, Head of Strategic Partnerships at Vanilla, for an enlightening discussion on the benefits of incorporating estate planning into your advisory practice. Estate planning not only adds immediate value for clients but also fosters trust across generations, ensuring the longevity of your practice. Michael will offer insights on transitioning from reactive to proactive planning, enhancing fiduciary standards, leveraging technology for efficiency, and guiding clients through the estate planning process.
Key Takeaways from the Session
- Why focusing solely on portfolio performance is no longer sufficient, and how estate planning provides enduring value beyond investment returns
- Meeting the evolving expectations of clients regarding the services offered by their advisors
- Establishing yourself as a multigenerational steward rather than just a portfolio manager
- Dispelling common myths and misconceptions that hinder advisors from engaging in estate planning
- Utilizing technology like Vanilla to streamline the estate planning process and make it actionable
- Real-life examples from leading advisory firms that have successfully integrated estate planning into their practice and witnessed tangible results
