Today's wealth management has evolved far past its origins in financial planning. Clients have more than one advisor in their life because they have more than just investment needs. Regardless of their overall net worth, many clients have a CPA, have used an attorney at some point, they may have a relationship with an insurance agent, and they could have other people giving them advice in other areas that are not traditionally financial. The problem is they could be missing out on advice because they lack a central knowledgeable figure who coordinates everything.
Here is the opportunity for today's wealth manager. Imagine if you could be the person at the center of every element of your client's financial life. You can and should be asking your clients and prospective clients about everything that is important to them and then probe to uncover what other issues may affect their overall health and wealth. They could have a very strong need for guidance on health and wellness, elder care, longevity, career or business, sense of charity, and other things that matter. You may not consider all those topics to be purely financial - that is OK. But they are important to your client and that should make them important to you.
So in this episode, we'll explore how you can discover these issues and how you can be that central figure in your clients' lives. And here is the kicker. This kind of wealth management service can help anybody - not just the super-rich.