Last updated: August 20 2008
Your clients have spoken ñ they want one highly qualified financial advisor who will help them build income and preserve wealth, throughout each phase of their life but especially as they transition to retirement.
As the trusted advisor, you must ëget it' in terms of your client's needs and wishes before building a wealth management and retirement income plan. Then position yourself as the Quarterback of an inter-advisory team of specialists who assist you and your clients in making the appropriate decisions.
Here's how Jim Ruta, Knowledge Bureau faculty member and speaker describes it:
"Affluent clients expect excellence and the only way to deliver it is with an expert financial team. As you assemble this team, consider who your clients are, their attributes, and then pull in the required specialists that can solve their specific financial needs."
Your most important role as the Quarterback will be to help your clients determine their priorities and then to call in the experts when their particular skills are required. Coordinate and manage the team. You are the relationship manager and are responsible for the quality of the relationship each member has with your client. It's critical to pick the ëright' individuals. Be at each meeting to ëtranslate' technical information into language understood by the client and to monitor team member performance. Don't leave anything to chance ñ after all, these are your clients!
The inter-advisory team approach with you as the Quarterback is the most appropriate structure to provide competent "One Stop Shopping" for the 21st century client. You can either be part of that expert team or lead it or both Ö. the ultimate winner will be your clients who get much better advice, products and support. You'll provide exceptional value to the relationship, life will be simpler, more productive and you'll attract more business and referrals than ever before!